I’ve heard many moms say that they can’t afford to stay at home. I’ve seen moms in tears, agonizing over leaving their children while they go to work. I’m not saying that all moms should stay at home or that they can financially afford to quit their jobs, but I will give you the financial reasoning behind my decision.
Two kids in daycare equals big bucks! A few years ago, I had two little kids at home. One was in diapers and the other was only 3-years-old. The cost of daycare would have been around $1200 per month. That’s a huge chunk of a teacher’s salary.
Extra eating out - If I were a working mom, I know that we’d be eating out more. Who has time to juggle work, kids, laundry, cleaning, and cooking? There are some moms that can do all of this, but for the most part, eating out will increase with more work hours.
A sense of entitlement - I am usually a content and frugal person, but sometimes the entitlement bug sneaks up on me. ‘Why shouldn’t I have that? I work hard.’ I know a lot of people that feel this way and they have the debt to show it.
Increased tax liability - For a while, I was working in preschools where my kids attended. One year I did my taxes and found out that the extra little bit of income I made put us into a higher tax bracket and it cost us almost as much in taxes as I made. That was really discouraging.
Gasoline and automotive expenses - With working comes more commuting, which means gas and automotive expenses. At that particular time, I had figured it would cost me around $400 per month in gas for the daily work commute.
Clothing expenses - We all need clothes, but when you work you want and need to look nice. I do have nice clothing, but not what most would consider a working woman’s wardrobe. Clothing can be very expensive.
I had figured that daycare, clothing, gas, eating out, and all of the extras would put me bringing home about $700 per month (on a teacher’s salary). Working full-time just wasn’t worth that kind of money.
Stay tuned as later this week I will tell you some things I’ve done to help save money and better afford staying at home, as well as some part-time opportunities.