Comments on: How You Can Afford to Be a Stay at Home Mom

By: Top 135+ Personal Finance Posts for 2009 (That can be used 2010 and beyond) | Finance Blog

Tue, 05 Jan 2010 18:47:33 +0000

[...] How You Can Afford To Be a Stay at Home Mom. Some mothers want to stay at home with their children so badly that they simply quit their jobs without considering the financial consequences. Others may want to stay home, but have preconceived ideas that doing so is just not financially possible. Neither extreme is the ideal. This post will help you work through the thinking process of when and how you can afford to be a stay at home mom. [...]

By: Top 135+ Personal Finance Posts for 2009 (That can be used 2010 and beyond)

Top 135+ Personal Finance Posts for 2009 (That can be used 2010 and beyond) — Mon, 28 Dec 2009 10:36:35 +0000

By: Some Great Perspectives On Being A Stay At Home Parent

Some Great Perspectives On Being A Stay At Home Parent — Thu, 03 Dec 2009 23:02:30 +0000

[...] How You Can Afford to Be a Stay at Home Mom by Personal Finance By The Book [...]

By: FloogVogHeete

FloogVogHeete — Wed, 25 Nov 2009 21:12:52 +0000

Credit you for details. It helped me in my assignment

By: Roundup – Henckel Knives Edition | Cash Money Life

Roundup – Henckel Knives Edition | Cash Money Life — Tue, 04 Aug 2009 15:31:32 +0000

[...] How You Can Afford to Be a Stay at Home Mom. Great tips for becoming a stay at home mom. [...]

By: becky Goddard-Hill

becky Goddard-Hill — Tue, 04 Aug 2009 07:58:31 +0000

What a great article. It is all about shariung what we know and re creating communitites. I blog about baby budgeting and I have written a whole book on the subject (How to Afford Time Off with your Baby – Vermilion 09) Check out my site for the blog and loads of tips http://www.babybudgeting.co.uk

Cheers

Becky Goddard-Hill

By: Carnival of Personal Finance: The House of Rose Edition

Carnival of Personal Finance: The House of Rose Edition — Mon, 27 Jul 2009 10:19:00 +0000

[...] Plemon from Personal Finance By The Book presents How You Can Afford to be a Stay at Home Mom. This was a discussion at our household when our first child was on the way. We’re lucky to [...]

By: Joe Plemon

Joe Plemon — Thu, 23 Jul 2009 13:10:44 +0000

Caroline,
I love the fact that, at a young age, you are thinking about how the decisions you make today will impact your future. You are a rarity.

How do you plan for the future while living on one income? Great question, and one about values as much as money. If staying at home with your baby is a high priority, you and your husband will need to be in agreement on what sacrifices you are willing to make in order to achieve that goal.

Whether with one income or two, you plan for the future the same way: live on a budget, spend less than you make, get out of debt and stay out of debt, build an emergency fund and invest for retirement. It is admittedly tougher with one income, but that is why the two of you need to be in total agreement.

Having said this, you implied that you would go back to work at some time in the future. At that time, you will have learned to live on one salary and you should be able to keep the same standard of living and use all of your salary to make up for the time you weren’t working.

I hope these thoughts help. Other readers…any additional thoughts that can help Caroline?

By: Caroline

Caroline — Thu, 23 Jul 2009 12:49:58 +0000

Me and my husband bought a two family house with the idea of renting out one half while we have a young baby, and eventually as the baby gets older and needs his own room, and we start making more money we could use the whole house. My concern about staying home with a baby is not that we can’t afford it now, we probably could if we lived very frugally, but what it’s worrying for me is not to pay into my companies’ retirement system anymore. Staying home would mean that I have to work more years later on, as well as not be able to put anything aside for the child’s college education. I would like to have some ideas on how to plan for the future while living on one income.

By: Joe Plemon

Joe Plemon — Thu, 23 Jul 2009 12:30:20 +0000

Meoip,
Great and practical ideas of how to spend less on raising your baby. Janice and I were determined to use real diapers on our first born, but we succumbed to disposables after putting up the smell and the laundry and actually sticking a pin through our son’s flesh.

We used a little hand turn food grinder with all four of our kids (no commercial baby food) and always believed we were not only saving money, but feeding them something more healthy than the yellow or green paste in a jar. We told our friends that we fed our babies “table scraps”.