Continue Working or Stay Home Next Year?

chitownmom · March 2015

I rarely post on this board, but I'm having trouble making a decision for next school year and would love to get unbiased advise. I have been working part time, four six hour shifts (24 hours a week). Since working part time, both kids have been going to daycare 2 days a week and my mom was watching them the other two days. My dad recently was diagnosed with cancer and retired early and my mom hasn't been able to watch the kids as much, since she is taking care of my dad. We had to add days at the daycare and pretty much my entire paycheck is paying for daycare, which doesn't make much sense. We agreed we will keep things as is for this school year, but we are trying to decide what to do about next school year. My daughter will be in kindergarten, but it is only 3 hours long. If we pay for kindergarten enrichment plus daycare for my son, the majority of my paycheck will pay for their daycare.

I'm having a really hard time deciding if I should stay home for the school year. If I don't work, there are much more affordable options for preschool and kindergarten enrichment. I know it would be great to have a year home with both kids and the cost wouldn't be much different than if I work, since so much is paying for daycare, but I'm not sure if that would be the best thing for my career. I work in human resources. If I do stay home, I would still try to find a way to earn some money, without having to send the kids to daycare. Any advise? I'm pretty torn about what I should do.

WillyBean · March 2015

It sounds like staying home would work better for all. Maybe you could actually save money doing it (less gas, less eating out, etc)? Kind of jealous that you have this option actually.

Is there any way you could go to seminars or conferences to stay networked with people in your field while you are off? I'm not in human resources but if you did an at home gig like jamberry or noonday where you have to network with people to make money, I'm willing to bet prospective employers would feel like you haven't lost your touch. Good luck!

jd614 · March 2015

I think you need to look outside the confines of the next 1-2 years and think about what you want and whats best for your family. Remember day care and preschool costs will all go away but if you think taking a few years off will be detrimental to your career, it may be worth sacraficing the income and "working for free" in order to stay on track. Also consider things like insurance and your 401k contributions that you would lose if you stopped work. That being said, if you want to stay home and you think thats best for your family for reasons other than financial, by all means do it. You will never get these years back. I am staying home after baby number 2 comes in May and could not be happier about it.

BabyHope2013 · March 2015

I agree with @jd614 above. You need to look at long-term. Most of your expenses might be going towards daycare costs, but how hard will it be to reenter the workforce in a few years when you are ready to go back. That is one of the biggest reasons that I have chosen to continue working. I know that if I were to leave, it would be hard to go back in 5 years. And even when I would go back, I would likely start at the bottom and have to work my way up in seniority and salary. It is something to think about. Obviously, I have no idea what you do for a living---so perhaps it would be completely different for you than it is for me. Even if you do stay at home, I would consider what you could do to remain connected to your field and maybe do some volunteering or something to show a future employer in a few years down the road what else you did with your time. Some employers who are doing the hiring respect that being a mom is a full-time job in itself. Unfortunately, I have come across others that think mom who stay at home are eating bon-bons and watching soap operas all day. Wish the later didn't exist....

chitownmom · March 2015

Thank you for the feedback. Since I work part time, I don't get any benefits at my job. So, I wouldn't be losing out on a 401k or insurance benefits. I'm leaning towards staying home for a year, but still trying to work on the side, but without having to pay for daycare. Once I'm ready to reenter, I'd probably consider working full time again. I've been working part time since my son was born 2 years ago.

syang5 · March 2015

I would stay home if I were you. Like WillyBean said, try to stay connected somehow in the industry and like you said, you'll still make money some way. Given that you don't get any benefits, I think is even more reason to leave. You could always look for work earlier than you expected if staying home doesn't work out.

My DH stays home for this exact reason - his paycheck would have just paid for daycare. I wish it was me at home sometimes, but it gives me so much comfort knowing my son is with at least one of us almost 24/7. He also works from home sometimes and we use that money to contribute to a Roth 401k for him.

Good luck!

skibunny59 · March 2015

I am home right now on ML with #2 and I absolutely love being home with both kids. I would stay home in a heartbeat if I could but my family really depends on my health benefits and salary. As it is now, we are taking a big hit me being out of work. Especially if you work part time and wouldn't be missing out on any benefits I would definitely stay home in your situation.

2-Step · April 2015

I think it depends on your long term goals. I work part time and I have a great job that I love. It's very difficult to find the kind of work I do in part time and for a company that is flexible like mine. I really don't take home very much after daycare costs and other things I spend to make life more convenient because I'm working and don't have time. However, I know that in a few years when the kids are both in school, this part time job for this company will be ideal for me because I can work during school hours and they won't have to go to after school care. That will save us money in the long run and I feel like I'll be able to be more engaged with them as they grow and make friends etc. If I were to quit, I would likely have to stay out of the workforce for awhile or go back full time and put the kids in after school care. For me the benefits of keeping this job outweigh the costs long term. I understand it is very tempting to stay at home, and I think about it from time to time I also think it's good for them to have a little daycare time, socialize and get to know the classroom environment before they enter kindergarten. The sickness that comes from being in a center, I could do without!

KL777 · April 2015

I SAH the first 3 years and have no regrets. If you do SAH, you do need to have a plan on how to get back into the workforce. To answer your question about how to make money at home, have you considered watching other children? That's not for me, but I know it works for a lot of women. Other options include retail or working in the restaurant field in the evenings a few nights per week when your husband is home.

KLake42 · May 2015

I've found that networking really is incredibly important when it comes to landing jobs. While you are still at work for a few months, do you think you can work on developing your relationships with other people in your field? If you can make a few friends, and nurture those friendships while you're out of work, then maybe they will be able to help you land your next job when it's time.

2-Step · June 2015

If you think not working would save you money then it might make sense. When I transitioned from working full time to working part time from home I was shocked by how much money I saved by not eating out, gas, clothes for work etc. I actually pretty much broke even with the reduced daycare and other savings, and I was previously getting paid a very nice professional salary! So staying home might actually save you money.

However, I agree with other posters about your future career. Do you like your job and your schedule? Would it be easy to find something similar in the future? I can vouch for the fact that flexibility is even more important once your kids get into school and activities. We are considering having a third and for about a year my entire salary would go to a nanny (we live in a rural area so quality daycare is hard to come by). I have thought long and hard about it and I know that in a year or two I would want to return to the workforce, but I also know that part time, work from home opportunities in my field come along once in a hundred years and right now I have one. I will most likely keep working just to have this job 2-3 years from now. Also, I pay into my 401k and get a small match, so there's that to consider. I might take home a couple hundred bucks beyond that with 3 in daycare. Do you have the option for full day kindergarten? We did that and it was cheaper than kindergarten enrichment at a daycare center.

Continue Working or Stay Home Next Year?

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