Becoming a SAHM?

Hi. I am looking for some advice on becoming a SAHM and how to make it work financially. Okay, a little background first. I currently work FT and have an 18 month old son who is in daycare. My twins are due at the end of September. I am the primary breadwinner in the family, but now that I am pregnant with these two little babes, all I can think about is quitting my job and becoming a SAHM for at least a couple of years. I really wanted to stay home when I had my son, but at that time it wasn't a feasible option due to some debt that we had. So this is the first time that it is even an option for me to consider.

We sat down and did out a budget for our current expenses and income, our expenses and income if I went back to work after the babies come (taking into account the cost of childcare for 3 kids), and our expenses and income if I stayed home (taking into account things like less gas for travel, no daycare etc.). The bottom line is that we are coming up $1000 a month short if I stay home. We are only about $300 short if my husband stays home but I really really want to be the one to take care of my children. I know that may be selfish, but I only get one shot in life to do this and I don't want to give it up.

So here is where I need the help of the group. Did anyone out there have similar financial difficulties to overcome and if so how did you do it? I have already trimmed down the budget wherever possible, but really can't get much else out. Are there any PT jobs out there that you can work at home to earn additional income? I don't have the personality for home sales, so wouldn't be into pampered chef or anything like that. I am thinking something more along the lines of data entry that I could do a few hours a night and maybe some on the weekends. Does anyone have any suggestions for how I might supplement our income? I am just not sure where to even begin looking. I have also thought about taking in a couple of other kids to watch during the week, but figured I will have my hands full with my toddler and new babies for the first year, so maybe that wouldn't work out right away.

Any advice you could give would be great. I would love nothing more than to have this work out and be able to stay at home with my children instead of having someone else take care of them. Thanks

 

I know how you feel. I too am the breadwinner in my family (my salary is double that of my husbands) but I so badly want to stay home with my babies. Unfortunately, there is such a huge gap in income that it could never work and would end up costing us more in the end. To top it off, my husband does not want to stay at home with the babies so our only option is daycare or a nanny. I've actually been looking into nannies and found that alot of SAHM's that need to supplement their husband's income watch other's kids during the week. They charge alot too... In the city, they make $1800/month.

I can't help you out with data entry positions, but I do sometimes get ads in the mail for medical transcribers, etc. You could probably surf the net for work from home jobs and find something that might be of interest to you.

Good luck to you!

 

Is there any way you and DH can work opposite schedules? It isn't quite the same as being a SAHM, but you wouldn't have the childcare costs.

 

My idea was same as previous post, can you keep someoneelse's child in your home? Everyone has daycare struggles, so the demand for it if definately there. I know it might sound overwhelming, but if you could pick up a toddler/preschooler it might go a long way in entertaining your older child, making life easier for you in the long run.

 

I don't have advice on staying home, but we are going to hire a nanny. That will save us about $100 a week in childcare cost. Have you looked into that option? We live in a metro area and good daycare is very expensive. Even though we are paying our nanny $12 an hour, for 40 hours a week - it is still cheaper than 3 kids in daycare.
There are also a lot of companies that have true "work from home" positions - you just have to find them. For instance, AT &T hires almost all of their call center employees to work from home as well as several others. They are a little hard to find, but if money is an issue it might be worth it to check out.
Keeping kids in your home is always an option, but I would definitely encourage you to get an umbrella insurance policy in addition to your home owners insurance policy if you did that.

 

quote:
AT &T hires almost all of their call center employees to work from home as well as several others.


Not much to add here except a thought - wouldn't it be extremely difficult to work a position like that with 3 kids to watch simultaneously? That is, unless you'll also have a nanny or family member there as well while you work. I will not be a SAHM, but I will be able to work from home as needed. Even with 2 kids, the nanny will have to be there for me to be able to actually get any work done. My friends who work from home say the same thing - you can't work and watch your kids at the same time. BUT if you took in other kids, that seems like the best option - if you can look into getting licensed, that would be probably be ideal . . .

 

It is true that you would need a nanny to work from home, but sometimes you can hire someone for a little less money if you are home as well. You can possible get someoen for $8 an hour as opposed to $10 or $12.

I definitely think watching kids can bring in more money, but that would be a lot of work as well as something to think about. I really admire people that can watch many children at once. Some days, I can hardly handle my ds!

Ohh, what about working in a daycare? That way you wouldn't have to worry about lisence requirements or additional insurance. You could also do it for a little while and see if you like it.

 

Thank you to all who replied. It's so nice to have people who talk to about this who know what I feel and can offer advice.

Probably bringing another child into the house to watch would be the best option and Jennifer I really like the idea of having an older child that could play with my son. I definitely worry about if I keep him home would he get bored since a lot of my time will be spent with the twins (at least initially).

I've thought about doing opposite shifts from my husband, but I am afraid that would put a strain on our marriage since we won't be able to see each other that often. Similarly, he keeps saying he will pick up a second shift job, but I don't want to do that to him. I feel like it's selfish to have him working 18 hour days so that I can stay at home.

I think if it doesn't work out I will definitely go the nanny route as I think it will be cheaper and there aren't a whole lot of infant daycare options where I live. I absolutely hate where we have my son, which is probably one of the reasons I feel so strongly about wanting to stay home I have no idea what nannies run up here (upstate NY) - I will need to look into that, but know it has to be cheaper than daycare. And I am not 100% sure, but I think like PP said, my employer might be flexible enough to let me work from home one or two days a week. Like she said, I would still need the nanny since I couldn't get work done with three children, but at least I would save myself an hour and 15 minutes of commuting time as well as get to eat lunch with my children twice a week.

Well thank you again for your advice...I feel better already just having people to talk to!!

 

I would have loved to become a SAHM, but it just isn't in the financial plan for us. DH and our salaries are pretty much the same, but I also double my salary with my yearly sales bonuses. And I work from home and make my own schedule so to give all of that up would be pretty crazy.

I have a nanny. She happens to be my DH's niece, so we pay her more than what she was making working at the mall but much less than what we paid our previous nanny. And I am here with her most of the time, with occasional travel.

My company probably has about 65% of their employees work remotely. But the type of work that they do takes some pretty specialized experience. If you can find something that you can do from home, I would highly recommend still having someone come in to watch the kids because you will never get anything done if you try to work and watch them too. I did it for a while and was ready to go insane.

I think taking on another child to watch would be too much. I had my hands full with just my two.

GL!

 

It is so funny this post came up right now. I am in the same situation. My 3 year old is in daycare currently and I have always worked and didnt think I would feel differently. Then, here I am with two new babies and I am trying to work out being a SAHM! We also are at a 1000 difference. I dont really have advice, but wanted to let you know that we are in the same boat. We are trying to see how frivolously we can live...pb&j everyday for lunch for momma and daddy! Hahahahaha...

 

I would definately ask yourself these questions:
1. Can I do what I am doing now at home?
2. Can I schedule my time effectively between my work schedule and my family schedule?
3. Will I need to bring in someone to help with the children to work my job at home?

I too am a stay at home mom and i run my business out of my home. there are many places that could use help outside the offices so that you could take care of your kids without the extra expense of daycare. you could look at realstate agents or attorneys for instance. they always need documents and research done and are usually willing to pay to get the info they need. check with some of them to see if you can work for them and explain your situation. you will be surprised with what you find.

I personally started with ebay! a great place if you are selling your crafts or clothing but not so great if you see everything that you are selling on there by other sellers. you would have to find items or products that are rarely listed. crochet blankets, and hand crafts items are at an alltime low right now and you can make a pretty good chunk of change if you are successfull at it. i was making about $2000 per week selling clothing for about 2 months, but the clothing that i was selling was FAD clothing and went out of style really quick. so you really have to check and research your market.

a friend of mine does this tho and it is very profitable for her. go to yard sales, goodwill stores, thrift stores, and bargon for the antiques! (HINT: look for sterling silver and crystal) buy cheap, do the research on the item and list it on ebay! having it apraised can help too. get yourself a digital camera or scan pictures of your items for better quality photos and you have yourself an auction. there are several more ways to make extra money at home and the best way to find them is to research some ideas that interest you.

but i am doing home parties and fund raisers right now and this is how i am able to make a little extra on the side. i also am doing catalog distribution and mail order from my catalogs. if you want to find out more email at [email protected]

Good luck and lots of love!
meshell

 

Have you taken into consideration the tax implications of you not working?
Your overall income will be less
You'll have 2 more instant deductions
The combination of those 2 items, plus any other tax advantages ,might make the gap smaller??