Stay at Home Moms

How much $$ in the bank when you decided to be SAHM?

I don't think there is ever enough money saved when it comes time for a baby...

I was curious what the average cash savings was for families at the point they decided the mom/dad would stay at home and live off one pay check? I'm talking beautiful, green, liquid cash 

[Poll]
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Re: How much $$ in the bank when you decided to be SAHM?

  • I am not a SAHM and DH is being reluctant about me being so... but we have about $20,000 in our savings account. We've been saving since I got pregnant, because we knew that I would be on leave without pay for 3 months.
  • You say cash, but I answered including all easily liquid funds - mutual funds, etc. Things with no penalty to cash out immediately. I doubt many people have large amounts in actual savings or checking accounts simply because that isn't the smartest place to keep your money.
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  • We have 8-10 in liquid.  We try to maintain at least 5 in our ING account and 3-5 in our regular savings account.  I didn't include mutual funds or other things.  We did save up before I was due and are going to deplete a fair amount of that when we put a new roof on in the fall.  We are trying to save up so we only have use 2 for our new roof, which will cost $6500.  Sad

    That is not looking so hot.  We were lucky, I received several expense checks after I was out on maternity that supplemented our account and made those first few months a little less stressful.  DH has also had more side jobs now than before I had the baby.  

    Plus, I find that we save tons of money now that I'm home and I don't travel for work (food, gas, etc.)

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  • imageDevonPow:
    You say cash, but I answered including all easily liquid funds - mutual funds, etc. Things with no penalty to cash out immediately. I doubt many people have large amounts in actual savings or checking accounts simply because that isn't the smartest place to keep your money.

    Good point. I was just referring to money that doesn't fluctuate with the market - stock funds, etc.

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  • quite a varied response
  • We will have to use savings to?supplement?DH's income, so we might have more than some. ?We have enough for me to stay home for 1 year, plus an emergency fund that would allow us to continue living as we have for 2 months if DH got laid off. ?I might try to find some part time work to allow me to stay home for two years, but I'm not sure if that will be possible.
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  • we had a good amount but since my hubby paid of his truck to get rid of that bill we had to start all over again..but luckily he's a good saver and he knows what to do with his $..
  • Back then, I don't even remember since it was 5yrs ago.  In the 5yrs I can tell you it's varied from basically a couple hundred (paycheck to paycheck basically) up to about $150K.  Now it's around $20K.
    AKA Carol*Brady! IHO my upcoming 10yr Nestiversary--Back to old screenname. My own Marsha, Jan & Cindy... imageDesigning a Life Blog
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