It's a complaint heard far too often. Mothers (or fathers) can't afford to stay home because their family cannot live on one income. But have they really looked at the costs of working outside the home to be certain that they are earning money?
There are a lot of costs associated both with staying home and working outside the home. To decide which is worthwhile for you, you need to do some analysis.
Clothes are one expense which you will have either way, but them amount will probably differ. You will probably spend more on work clothes than you will for clothes to stay home in. Figure out how much you spend per year on purchasing new clothes for work versus how much you would spend for new clothes when staying home. Factor in the amount you will spend a year on dry cleaning your work clothes if necessary.
How often do you eat lunch out? When considering this, be realistic about the fact that even when you stay home you will sometimes want to take the kids out to lunch.
How much is child care costing you? This one can be huge, particularly if you have a baby in child care.
What about gas? A stay at home parent won't use as much gas typically, but remember you're going to want to drive the kids to the park, movies, etc. once in a while.
What's for dinner? If you work outside the home, you may be spending extra money on convenience foods, ordering pizza, etc. If you stay home, it becomes easier to cook for your family, which can be a tremendous savings.
A tricky one can be taxes. That second income is changing your tax bracket.
Of course, don't forget to consider that staying at home may not always mean not working. You may be able to telecommute from your current job, find an at-home job, or start a business. If you're willing to take the chance, you might be able to stay home with your family and earn some money.
Can You Stay Home?
Is being a stay at home mom even practical for you? Another look at the costs and savings.
Where DO you get the time?
No matter what you do, there's always more to be done. Welcome to life as an at home parent.
Time Management for Stay at Home Parents
Even stay at home parents can use time management techniques to make their days run a little more smoothly.
Copyright © 2003-2019 Stephanie Foster unless otherwise indicated
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