SAHM - Help me devise a plan

ohbabybaby802

I currently work as a teacher - however after suffering a serious breakdown about a week ago about returning to work I am now determined to make it possible for me to stay home next year.  The problem is there is no way we could survive on my husbands income alone (he works in manufacturing).  I am thinking about relying on tutoring and nanny jobs to make enough money to allow us to live...however the uncertainty scares the crap out of me  Does anyone stay at home and have a side plan to bring in extra income?  How has it worked out?  Do any SAHM have any suggestions on ways I could plan to leave my job/have a more secure income from home? Thanks ladies!

URMySunshine77

What is your background? I virtually tutored with Smarthinking in the past. I believe they pay 11 or 12 an hour, and you can pick up extra hours when people go on vacation. They like people with teaching backgrounds.

URMySunshine77

ClaryPax said:

I think the plan should be to look for nannying and tutoring jobs and figure out how much you will make before quitting. Try working with a nanny agency or post on the care and sitter website or through word of mouth. Try sylvan and other tutoring places. Also could you go part time or job share as a teacher?

Re: @ClaryPax's comments, I have heard people use Care.com if you want to post your services.

Minipenguin

I would try to cut down to a barebones budget and start putting as much of your money into a savings account as possible. That way, you'll build up your savings and practice living on less money. Look into where your money is going: get a roku instead of cable, cut down on cellphone plans, skype phone instead of landline, etc. You could also try working PT while your husband is home. Some people on the SAHM board will waitress one or two nights a week. But also take into account that being out of the work force will affect retirement savings and promotions, may make it hard to get a job in the future, etc. GL!

Stefibeth

I wouldn't recommend walking away from your full-time job unless you know you can work with the guaranteed income you have.  If you have a tutoring and/or nanny job lined up already and you know that you can live on that plus your H's income that makes sense, but I it's not a good idea to assume you'll make enough part-time to cover expenses.  

What I would do is really crunch the numbers.  Get a working budget, cut things if you're going to cut them, and figure out exactly how short you fall with just your H's income.  Then, figure out a definite plan to make up that gap.  You might do better with a steady part-time job that you can work evenings or weekends.  Like retail, waitressing, etc.  

I have no idea about tutoring/nannying, I'm sure that's fine for supplementary income as well, but like I said, just make sure it's going to be a steady income before you rely on it.  Also, while you're still working I would put as much into savings as you possibly can.  If you want to be really smart about it, don't use your income at all other than to cover the income gap you think you'll be able to make up with your tutoring/nannying.  That will give you a chance to build up your savings and to really see if you can walk away from your income.  

Sstefan2011

I stay at home. My husband makes decent money but nothing to write home about. We decided before the baby was born that me being home was more important than anything else so we looked at the numbers and figured out what we needed to do to make it work. If we can't go out to eat all the time, we won't. If we have to skip the vacation for a year, we will. I personally felt that I would sacrifice what I needed to so I could be home with the baby for as long as possible.