Want to go from WOHM to SAHM!

iVillage Member
Registered: 12-07-2006
Want to go from WOHM to SAHM!
17
Mon, 04-21-2008 - 10:43am

Okay, So I am currently pregnant with Child No. 2.




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iVillage Member
Registered: 07-17-2007
Mon, 04-21-2008 - 11:50am

1) Can you work part time? Or 4 days a week?

2) I would suggest, once you and DH are *completely * out of credit card debt, to save your post tax income for at least 6 months. That way you can see if you can truly live off of DH's income and it will create a nest egg.

3) Make sure you are not sacrificing things you want to do in the future, buy a house, send children to college, retire.

4) Can you take a longer leave of absence, rather than quit outright?

5)Do you have family/close friend support nearby? Or is family more of a burden/obligation?

6) How much will you have to reduce your current spending level? How tight is you current budget?

iVillage Member
Registered: 12-07-2006
Mon, 04-21-2008 - 11:58am

1. I haven't asked if I can work part time.




iVillage Member
Registered: 04-21-2008
Mon, 04-21-2008 - 12:04pm

Hi!

I am very much wondering the same things you are. My husband and I are going to start trying for a baby this summer. I would love to be a SAHM, but I just don't know if we can swing. I do know that a lot of daycares around us are about half my monthly salary, so that is a big factor for me. I don't know if I want to pay for that and work too. I'd be curious if other people have done this and what their experiences have been.

iVillage Member
Registered: 07-17-2007
Mon, 04-21-2008 - 12:16pm

1) Buy Quicken or another budgeting software and start keeping track of ALL your expenses. I wouldn't quit if you don't know your expenses or how much or what would would have to cut. It will take several months to see where you are spending money- go back over the past six months of bills and "recreate" your spending.

2) Make sure retirement savings are there and budgeted- the younger once is when one starts, the easier it is to fund. Are you or DH eligible for a 401k? Do you participate? If not, start immediately.

3) Look around for a daycare that does accept part time- if that is a possibility at work. Home daycares are usually more accommodating.

4) I can't stress enough try to save ALL of your post tax income for at least six months suggestion.

iVillage Member
Registered: 06-08-2007
Mon, 04-21-2008 - 1:01pm
I cut down to part time when I was pregnant with my second(and third-twins). But I already had a career of many years and lots of experience and a shortage in my field so I was able to do it. So generally speaking, I would encourage you to go for it. Part time on weekends.
iVillage Member
Registered: 04-04-2005
Mon, 04-21-2008 - 3:50pm

Obviously SAH sounds great to you and once you have the second child the daycare costs do double. I wish I could help you. I work PT night shifts on Fri and Sat. nights. DH and I share in the child care duties. We do not use daycare but I always used pre school starting at age 2.5 years.


I would not go into debt so that I could SAH. That is just me. I would not be happy struggling from paycheck to paycheck each month.


Things you could do are - find a SAHM that would like to make a few extra dollars watching your kids part time. It could be someone you know very well. I have a good friend that watches her friend's kids. She knows her from church - she never planned on doing this but it is turning out to be a good way to make a little cash. She is wonderful with children and has watched my youngest in a pinch.

 

iVillage Member
Registered: 05-01-2006
Mon, 04-21-2008 - 4:00pm
Good luck. Determine your monthly budget i.e. mortgage, groceries, car payments, etc. You've done great making a huge dent in credit card debt but now the concentration should be on savings and retirement. Remember gas prices are outrageous so try to determine the heating costs 6 months from now. Have at least 6 months emergeny funds saved, so credit cards are not used for car repairs, furnance maintenance, job loss. My opinion, try for part-time work and then look at the budgets. Can you work a different shift that will save on daycare costs? Look at other options for child care where one pays for the service used, not a one time fee. Most private, in home daycares can be a bit more flexible. I hope you can have your dream of staying home with your children. It sounds like it will be feasible with some planning.
iVillage Member
Registered: 02-18-2008
Mon, 04-21-2008 - 8:35pm

I have been a SAHM for almost 9 years.

iVillage Member
Registered: 12-18-2007
Mon, 04-21-2008 - 9:14pm

There are so many things you can do to save money (and even make extra cash) being a SAHM.

 
iVillage Member
Registered: 07-17-2007
Tue, 04-22-2008 - 8:09am

"I know that cost of living and spouses salary make a big impact on whether or not someone can afford to stay home, but I've also been told by women driving lexuses and living in homes decorated by Pottery Barn that they "wished" they could stay home."

And?` Maybe they work for health care, maybe they work for retirement and college and make more than they need for that so they spend in on other things, maybe they were just being sociable and didn't want to get raked over the coals for admitting they work because they like it.

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