Stay at Home Moms
? about deciding to SAH or not
When we first got pregnant, DH and I decided that I would SAH once the baby was born. Now with the economy the way it is, I'm nervous to quit my job when others are losing theirs. One (small) part of me thinks that maybe I should stay working "just in case", but the other (very big!) part of me really wants to SAH.
If you've been a SAHM, has the change in the economy had a big impact on you or have you just had to make minor adjustments?
I guess the uncertainty of the economy has me a little more nervous now. TIA!
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Re: ? about deciding to SAH or not
As crazy as it sounds, it is actually cheaper for me to stay at home. I was spending well over $600 a month on gas, eating out for lunch, buying coffee every day and spending money on clothes all the time. Now that I SAH I spend way less and really only go out with baby if there is a need. Now when I go shopping I rarely buy things for myself. We also made sure to have a lot in savings just in case. We also got rid of things that we don't NEED in our lives that was costing us money.
I left a six figure job to SAH and to me there is no amount of money in the world that could replace the amount of time and love I can give DD every day. I will never regret my decision, even if I never get my career back to where it was. Honestly, money never equals happiness as long as you can pay the bills. We have learned how to pay our bills on just DH's salary and leave our savings alone. As long as you can do that you will be more than fine
For a while, things were really tight for us. When gas prices were $4.50/gal and food prices constantly on the rise, we were starting to get nervous.
Now, gas prices are back down and food prices are supposed to get cheaper, we are starting to relax a little. Definately make sure you have a savings account to cover the unexpected.
I would continue with your original plan. Is your husband's job secure? If the worst does happen and he loses his job, you could always get another job, and you could both work opposite shifts doing something temporary.
Yes, the economy is hurting right now, but I don't think we should panic. However, we are very frugal and try to save as much as possible. So if something happens, we have a "cushion."
I can totally empathize with your situation and I think you guys need to discuss all aspects of you SAH in this economy and make the decision that works best for YOUR family!
While our stocks and DH's 401(k) took a hit, those are long-term investments that we are not concerned about for at least another 35 years. Whether gas goes back up to $4.50/gallon out here in CA or not, DH and I are fortunate to live very comfortably on his salary and have for over 3 years. We have just shy of a year of living expenses in our Emergency Fund, we own both our brand new cars and we have Emily's "college" fun still in liquid assets should we need it. We have prepared long and hard for the worst because of my Finance & Accounting background and previous career so, we aren't effected by this Recession and feel truly blessed!
Take care and good luck with your choice!
eclaire 9.10.06 diggy 6.2.11
Thank you all for your advice! It's comforting to know that others are making it ok on one salary.
DH's job is very stable - he's a fire fighter and gets paid very well compared to other departments, so we are lucky in that respect. We bought our house before the "boom" so our mortgage isn't insane like most in FL and we only have one (small) car payment. He also has a "flexible" work schedule to where I could go back part-time on his days off if I really needed to. We've also been saving pretty much all of my pay since we found out I was pg. so we do have little cushion.
I think it'll all work out, it was just the fear of the unknown for me since this is our first child.