Is Being a Stay at Home Mom Reasonable in This Economy for Your Family?
Many families are deeply worried about the current economy. It’s riskier than usual to rely on a single income. Is it still smart to be a stay at home mom if you aren’t certain that your husband’s job will last?
This is a deeply personal decision, and there are many ways to resolve the issue.
Issues to Consider:
1. How much risk do you think you’re subject to?
Sometimes you know that a job is likely to be cut soon. Other times it’s a complete shock.
If you know that your family’s income is at risk, it’s time to think about what you are going to do to get things under control before they get out of control. That can mean that you need to look for a job, or that your husband does, before any layoffs happen.
2. Does your family earn enough money right now?
Sometimes the answer is, honestly, “no.” If you’re going deeper and deeper into debt in the hopes that your income will increase enough through your husband’s work, it may be a good idea to rethink what’s going on.
3. What options do you have?
You don’t have to quit being a stay at home mom these days to work. There are many options for working at home, along with plenty of scams to keep it hazardous.
Work at home jobs can be quite basic or require highly technical skills. One of my sisters currently works at home as a computer programmer. It’s an ideal career for working from home, but not one just anyone can do.
Home businesses are another good option, especially if your finances have enough leeway to let you get a good start before you need the money. You may lose the money you try to invest in a business, however, even if the opportunity was a good one. Success is never guaranteed. But if you can do it, it’s an amazing experience.
Another option is to work outside of the home when your husband is off work. It’s miserable in many ways, and hard on a marriage, but if daycare costs would eat up any earnings and you really need the money, it’s one way to handle things. Evening and nighttime jobs outside the home may not offer the same opportunities as those during the day, but if you need money you do what you have to.
If you’ve been living as a single income family for a while, hopefully things are still going well enough that you can continue to do so. But if things are going downhill, best to keep an eye on it before a problem develops or becomes serious.