Is SAHM a possibility?

iVillage Member
Registered: 01-24-2005
Is SAHM a possibility?
3
Wed, 05-18-2005 - 9:08pm
We are expecting our first child in September and are trying to figure out if staying home is an option for me. We are able to pay our bills on just his income, but it would mean having very little extra. I would love to be able to be at home and raise our child, but am worried that a few weeks or months into it we'll realize financially it actually wasn't possible. How little are families actually able to make it by on? Any thoughts or advice on this topic would be greatly appreciated!
iVillage Member
Registered: 09-21-2004
Wed, 05-18-2005 - 10:52pm

I always say that if you want something bad enough...you will find a way to make it happen.


Most of the time, but not always....it is a simple lifestyle change. Try living off of Dh's salary until the baby arrives as a "test run".


Good luck to you!!

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iVillage Member
Registered: 03-26-2003
Thu, 05-19-2005 - 8:43am

I agree, you really can make it work if it is truly what you want. I have been SAH since my youngest dd was 8 mos. old. She is now 5 1/2. In that period of time, we have even managed to build a brand new house. My dh doesn't make scads of money, either. We just have always planned, saved, budgeted, etc. If you sit down and make out your weekly menu and shop accordingly, you won't over spend (and don't take your dh, either! I always spend more when he is with me! LOL!) If you take the amount of money you have saved at the grocery store, using coupons and in-store specials, and put it in a special account (so, say, you saved $7.50 this week, take that amount of money and put it away), you can take a day trip, or go out to dinner, etc. Depending on how long/much you save. There are other ways to save too. Also, there are plenty of free things to do. Parks, libraries (lots of things here, including storytime), etc. Join a mom's group of some sort. My oldest dd is in 2nd grade and last year there was an opening at her school for a playground monitor. This is a paid position, and while it doesn't pay MUCH, it is still enough to cover smaller bills, school expenses, etc. I also have a great schedule - the same as my kids :) Anyhow, I hope some of this helps. Good luck in making your decision. I know how tough it is. Let us know what you decide!!

Wendy

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Registered: 01-23-2004
Thu, 05-19-2005 - 9:07am

Hi there! I'm not a SAHM yet but my DH and I just did our budget and are now planning for me to quit my job in a year so I can stay at home. We are also planning on living off of just my DH's income for the next year for "practice." We have quite a bit of debt to pay off so all of my salary is going to paying off the debt. By this time next year, my salary will have paid off all our debt and we will have a few thousand $$$ in the savings account as a cushion for when I quit.

My DH and I were actually surprised when we put all of our expenses down on paper. We also looked back over what we had spent over the past year to see where we had "wasted" money. When it came right down to it, half of our take home pay was going toward really frivolous stuff that we don't need and probably won't miss. I make just a little bit less than my DH so we will essentially be cutting our income in half when I quit.

Also, a lot of our expenses went toward costs associated with me working - especially food costs. Because we both work and are so tired by the time we get home we eat out a lot instead of cooking at home. Also, for the same reason we never pack a lunch for work we eat our lunches in the cafeteria or out. Just the savings on food alone will really add up for us. Also, the price of gas for my car will drastically since I won't have a 40 minute commute to and from work anymore.

Although I'm sure there will be times that I will miss just being able to spend money on whatever I want - it will be much nicer knowing that I am able to stay home and care for my child and family.

Kristi