Babies: 0 - 3 Months

working moms turned SAHM~ how?

I am a working mom now (teacher) and can't fathom leaving LO when he's 9 weeks old... how were you able to transition from working (multiple incomes) to not? Mostly wondering how financially... Were you able to pick up anything extra working from home in order to bring in extra money? Trying to figure out a possible way to feasibly do it!! All ideas and help are welcome :)

Re: working moms turned SAHM~ how?

  • Lurking from 12-24

    I'm a full time grad student but I stay at home during the day.  We live on my husband's teacher's salary--so not a lot.  I would just take a serious look at your finances.  We shared a paid for car up until my dad bought a new car and gave us his beater.  My husband rode his bike and the bus to work so that DD and I had the car during the day.  Not having car payments has been huge for us.  We also don't shop a ton and everything we buy for DD is generally consignment store stuff.  We cloth diaper so we've been able to get through the first year + for only about $400 (and alot of that we bought when we got our tax refund).  I also bf so we never had to buy formula.  We also don't have a lot stocked away in savings.  We have an emergency fund, and then my husband's retirement plan, but we aren't putting thousands away for the future right now.  We're ok with that.  You have to figure out what you HAVE to have and what you can live without and go from there.  We also have netflix, but no cable.  Those little things can add up.

    Oh, and as a teacher, you could probably pull in extra money as a tutor working in the evenings if your DH is home to take care of LO.  I tutor college kids at my university and that also brings in a little extra.  

  • After my husband and I got married, we stopped using my money for living expenses, and just started saving it (we don't carry credit card balances, have no loans other than our mortgage).  We basically did a year-long trial run of being a one-income household.  To be fair, when I was working, I made about half of what my husband makes, and there was a time or two when we had unexpected expenses (auto, a vacation, etc) where we dipped into my paycheck instead of savings.  Since this trial run obviously isn't an option here, I would suggest working out a budget if you can.  My advice for saving money sounds tired, but it works- we pretty much don't go out, I breastfeed, I buy in bulk when I can, I use coupons when I shop, I plan meals (well, dinner at least), I limit how much preprepared food I buy, when I go out, I combine trips as best as I can.  Good luck!!
  • I am a teacher and I left my job after last year. Before I quit we made a hypothetical budget sheet without my income to see if it was possible. The sacrifices we had to make were mainly in savings (but we'd saved most of my check before) and fun money. We paid cash for our cars or it would probably not have been possible, so if you have a little bit of a nest egg, paying off some debt with it would be wise before you start. Our only debt payment is my student loans (obviously being put to good use right now!). We just live a little more frugally than we used to, and of course BFing and cloth diapers are saving us a ton of money over a working mom (I would never have had time to pump teaching!). If it works for your family I think it is a smart decision. Teaching is physically and mentally demanding and it would be hard for me to give DD all she needs at this age after a day of taking care of other children. GL!
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  • DH and I knew from the time we got married 4 years ago that I would eventually SAH. We bought a house that we could afford on his income alone. We pay cash for our cars and live on a budget. Track your expenses and see if you can live off of your H's salary. 
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