Stay at home parent or full time working parent?
Sometimes, we as parents struggle with whether to let one or the other parent stay home. But can we really afford it? Will we be able to cut corners enough? These are daunting questions that keep both parents at work for a long time.
Crown financial ministries has a great calculator that will let you answer that exact question. The calculator is called “how much does Mommy really make” and it will help you find out how much it would cost you to keep working. This was eye opening for my husband and me as I thought I would actually have to replace my entire income. Turns out, I spent half my income on gas, food, and work clothes. When we took these expenses out of the equation, I only had to replace part of my salary. It made us feel much better about dropping my days and it gave us a goal to work towards for me to stay at home full time. Check it out and tell me how you do.
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POSTED IN: budget, money saving idea
1 opinion for Stay at home parent or full time working parent?
Karen
Oct 17, 2006 at 7:11 pm
I was just talking about this tonight with my mom. If I were to go back to teaching full-time I would have to put 2 kids in full-time daycare. That’s at least $800-$1000 a month!!! Then factor in the extra gas, eating out, clothes, wear and tear on the vehicle, etc. It just didn’t seem logical to me. Plus, I would have to get up extra early to get my kids to daycare and have to work all those extra hours, attend meetings, conventions. I know I’d have to grade papers and do lesson plans at home too. I just don’t see how moms do it. Working part-time at a preschool where my kids go allows me to bring home a little income for us.
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