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Discussion Starter · #1 · (Edited)
We were so excited a few months ago to find out we were expecting our fist child! "Spot" is due in July and we couldn't be happier.

I must say, however, that thinking ahead to this summer, we have A LOT of stuff to get ready. The biggest decision we are mulling over right now is whether or not I will stay at home (i.e. quit my job) after the baby is born. We are trying to weigh all of the pros and cons of the situation. We had always planned on me staying home with our children, but now looking at the finances, we are teetering back and forth.

My husband makes $30,000 and I make $29,000 roughly a year before taxes & whatnot. Both of us get great benefits packages including health care. Right now with just the 2 of us, we are saving approximately 80-90% of my paycheck each month. So I know we can live off of his salary for the most part, but by adding in the new little one and the medical bills from the pregnancy I don't know if I can afford to quit. If the hubby was to add me to his insurance it would be an additional cost of roughly $600/mo. to add both me and the baby would be $667/mo. That is just over $8,000/year. To just add Spot to the insurance would be $265/mo. ($3180/year)

$59,000-$29,000+$8,000=$38,000 on a $30,000 budget! And that isn't including all of the additional expenses we will incur with Spot on a monthly basis. We are planning on breastfeeding (should save money on buying formula) and are actively exploring the world of cloth diapering as I've heard it can save 100's if not 1000's of dollars over the time your child is in diapers. Now obviously, we are already pretty frugal, or I would be freaking out on some other message board out there. We plan to buy a lot of larger ticket items 2nd hand whenever safe and possible & are collecting as many free samples & coupons as possible.

If I continue to work that would be $59,000-$3,180-$(Childcare costs)= ???

I was wondering if anybody would be willing to share their experiences of either staying at home or going back to work and how it worked out?
 

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Congratulations!

I've been a stay-at-home mom for 15 years now. When I quit to to do that we were a family of 5 living on $30,000 a year.

If you are able to save that much of your salary a year, are there any debts you can pay off, such as a mortgage, to free up some more of your husband's monthly income to cover the cost of insurance?
 

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Congrats! My son was born in July!

I've been a stay at home mom for 3.5 yrs. The first year of life, babies don't cost that much. Especially if you are breastfeeding and cloth diapering. I don't cloth diaper, I buy my diapers on sale, or at Costco. About $50 a month extra.

Start buying now! Mostly size 3s. Only a few packs of 1-2s until you know how big your baby will be. Nothing worse than having diapers that don't fit anymore.

Wipes are about $20 more a month. You can even make these yourself. Also, start buying now. You will use wipes for years. I still use them with my 3 yr old.

My son is just starting solids; I'm making my own baby food. So minimal extra in my grocery bill.

Everything you can buy second hand for them, except a carseat. Unless you are certain it's ok, let's say from a family member. They need very little. Less than you think. Buy the bulk of the clothes second hand. They will only puke, poop and grow out of them anyways. Leave the cute expensive outfits for family and friends to buy. I'm sure it's the same in the states but babies r us has babyfest 2x a year. We got a lot of our baby stuff then for 50% or less.

Save as much as you can now to help offset your medical costs. Pay down any/all debts you can before July.

You could even watch another kid when the baby starts getting more expensive.

If this is what you what, you can figure out a way to do it.
 

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congrats ....There are pros and cons to everything I have been a working mom and a stay at home mom both...but it also has been 24 years...

I had problems with breast feeding so that was a problem for me..some moms and babies get it some don't..
my baby had problems with clothe diapers..kept her very sore..so no advice here on either side.

nadders gave u some excellent advice buy, used buy ahead, stock your house to save some expense...

but remember babies are wonderful and beautiful...they also are messy, smelly..they will look just as cute in a used outfit and get it just as messy, as in a nice expensive one...

good luck with your choice...
 

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Mahalo for sharing your wonderful news!

Have you thought of borrowing from friends/relatives? Don't go crazy buying clothes - they magically appear.
 
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Discussion Starter · #9 ·
If you are able to save that much of your salary a year, are there any debts you can pay off, such as a mortgage, to free up some more of your husband's monthly income to cover the cost of insurance?
As of right now we are debt free. We paid off our car about a year ago, and are currently renting so we have no mortgage payment. We are always looking for cheaper places to live around here and currently do not want to buy a home in the town we are in.

Thanks for the inspiration though! If you could make a family of 5 work on $30,000 we could probably figure out how to do it with 3!


We've had some friends offer us use of their items, but unfortunately, all of our friends & family live about 1500miles away. Despite being in our current location for almost 5 years, we really don't know too many people outside of work. My boss's wife offered me to look at their son's crib, but she wasn't sure with all of the new regulations if may be recalled or not. I hope this isn't coming off as complaining, because I'm definitely not! It's just easy to have these grand plans in your head and then realize you might have to make some changes :tedblue:

We'll make it all work out somehow...about 6 months to figure it out!!
 
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on the cribs - they are no longer selling drop side cribs, which is a PIA if you're short.

On the finances - how does it stack up if you go back to work? How much is daycare and what would your net check be?

My concern would be if you end up close to the edge - like you can just barely make it on one salary - and something happens with the baby - you can't breastfeed for some reason, or s/he needs some on-going medical care, whatever - that would push you over the edge. I'd want some wiggle room.

I have 2 children - a 6 year old and an 8 month old - and I know a lot of things that I planned on doing just didn't happen. I just would want more flexibility financially.
 

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Discussion Starter · #11 ·
on the cribs - they are no longer selling drop side cribs, which is a PIA if you're short.

On the finances - how does it stack up if you go back to work? How much is daycare and what would your net check be?

My concern would be if you end up close to the edge - like you can just barely make it on one salary - and something happens with the baby - you can't breastfeed for some reason, or s/he needs some on-going medical care, whatever - that would push you over the edge. I'd want some wiggle room.

I have 2 children - a 6 year old and an 8 month old - and I know a lot of things that I planned on doing just didn't happen. I just would want more flexibility financially.
Daycare is one thing we haven't looked into too much yet. Obviously it will need to be a priority here soon. As far as how close to the edge we will be, I think we will be teetering from the get go. So if something were to come up that caused us to take any financial hit, the poop would hit the fan.

I am trying to make some money on the side now. We are distributors for Shaklee and haven't done much with our sales, so I'm trying now to see how much income I can generate from home. If I can come even somewhat close to half of my current income, it would make things a little easier.

And I'm always looking for other ways to earn some income from home!
 
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Congratulations! :clap:
 

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Are there any expenses related to your work that you won't have if you quit? I know I spent less on clothing, gas, and lunches once I stayed home full-time. Any cable or optional monthly expenses you can cut or lower?
 

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One suggestion I have is look for places like Kid-to-Kid or consignment sales in your area. You can get new and gently used kids stuff for a decent price. KtK does sell used car seats but they test them and don't take any over 5 years old. Consignment sales would be something a couple times a year, maybe more that people can choose to sell at. Search "consignment sales kids" or go to "Just Between Friends Consignment". The first will bring up lots of choices to search on. The second is a group that hosts sales around the country.

For two of our kids, we just stuck to a play pen/play yard with a bassinet insert for their bed. Bassinet insert until old enough to sleep in the main play pen. Then that until they outgrew it. They go either to a toddler bed or a twin depending. Saved us on cribs.
 

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Congrats! I haven't read all the posts...just the first few.

As to making money from home, have you considered being a home childcare provider? I am not thru an agency...I'm private. (Not sure what the "home childcare laws" are in your State.) I'm also not sure where you live or if there are a lot of moms looking for care for their babies when they go back to work, but it's an idea.

I've been doing home childcare for 7-1/2 years...since DD1 was one. I have an 11-page contract, forms, extra home insurance, etc. I charge $38/day/child and have had four full time daycare children for over a year. (Of course, the rate per child per day would completely depend on what other home childcare providers are charging in your area. It also would depend on what you have to offer as well by way of environment, toys, outings, etc.) It's an excellent way to stay home with your own child(ren) and make money while doing it. Our two daughters are now in school full time, and I have no desire to quit doing what I'm doing. I enjoy it as I run my home childcare as a "home away from home". Everything I did with my girls (going to playgroups, running errands, going to the park, etc.) I do with my daycare children. And I get paid for it! It's also great because on the girls' school days off (PD Days), March break, Christmas break and summer vacation, I'm here for them. Yes, there are other children in the home, but it makes for a busy and fun day! Just a thought and an idea....
 
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Discussion Starter · #19 ·
Are there any expenses related to your work that you won't have if you quit? I know I spent less on clothing, gas, and lunches once I stayed home full-time. Any cable or optional monthly expenses you can cut or lower?
Great question! My husband & I actually work at the same place, and we only own 1 car, so gas expenses would be the same. And as far as wardrobe, I am a Track & Field coach and my work attire consists of athletic apparel that I would already own to workout and a roughly $200-500 stipend I get to spend from the apparel company that sponsors us. And while my coworkers go out to eat everyday, I go home to let the dog out and eat leftovers!

We have already cut down a lot of optional expenses. We do pay for an internet/basic cable bundle (only because the bundle was cheaper than just internet for a certain period of time when we signed up) and Netflix is our "splurge". We are planning to go into our car insurance company to see if we can get our rate lowered. Now that we have paid off our car we no longer need to be on full coverage, so that should drop our expenses a little.
 
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