Thursday, October 14, 2010

To Work or Stay at Home (1 of 2)

How do you decide if it is feasible to work full time or to become a stay at home parent? I know I've been blogging about some money saving tips, unfortunately with the changing economy, I feel the need to be prepared. My husband and I have been discussing this for some time. Nowadays, there are no guarantees. We are trying to lower our debt so that should I leave the work place; money would not become the subject of arguments. I know that I can save money by clipping coupons, and using my freezer to do bulk cooking. The bottom line is that I hear about many people losing their jobs, and it scares me. The reality is that I can see the "writing on the wall" so it is time to prepare for the worst. Here is a little back ground information, I'm a people person, I need to find some way to be around people, otherwise I think I may be unhappy.  On the other hand, I'm not really happy working full time anyway. I feel guilty leaving the family to go to work, and I work late most of the time. Then when I need to take time off from work for my family, I feel guilty leaving work undone and most of the time I'm off I'm getting calls or texts that are work related, so my kids really don't get that time with me. Becoming a stay at home mom may actually be a blessing in disguise. Right now I'm having. to chose between work or family.  This should not be a decision anyone should have to make. Frankly, it is only a matter of time, and the decision will be made for me. Don't get me wrong, my husband is very supportive, but he wants me to leave my work at work, or not to work at all.

We have paid off my husband's truck and I'm almost done with another credit card, but there are some bills that I'm having to pay because I work full time. I pay for daycare/babysitting, on top of the cost, I prefer to use my sister-in-law which adds a two hour commute to and from  work. I also have to pay for a private bus service for my daughter since we live 1.8 miles from her school, in order for her to ride the bus provided by the district, we need to live 2 miles from the school. I'm not home when she gets home but she does call me when she gets home. We recently had our microwave break, so the option has been to eat out or order take out. I do think that if I was home more I could offset some bills and be more of a parent to my children. I also have a 17 year old that needs to get his college applications sent off before December 1st. My gut is telling me that becoming a SAHM is what I need to be doing right now anyway.

I've been looking online for a way to calculate the cost of working vs. staying at home. there are several calculators out there, but they aren't accurate. They don't include the loss I will take to my retirement since I won't have the money to contribute, and I won't have my employer to contribute to it anymore. Not to mention medical insurance, mine is paid for by my employer, so my husband and the kids are on his. I know that it is cheaper to pay cash for regular doctor's visits. I would do that instead of using my insurance since my deductible was so high. I may have to create a more accurate spreadsheet to truly see what the savings vs. cost will be.

So it looks like my blog will not only have some tips about saving money, it will also include a diary of a working mom turned SAHM.
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