how to budget as a stay at home mom

how to budget as a stay at home mom

but if you’re not, it’s time to create one. |. When you sit down to come up with your budget, it should first include only your essentials.  Essentials include a roof over your head, food, clothing, transportation and minimum payments on your current bills. If you currently stay home or are considering it but aren’t sure how to afford to be a stay at home mom, read on for tips on saving money and lowering your budget. Those are just the top three ways that stay at home moms can save money simply by quitting their job. This step of fine-tuning your finances is important because it makes you aware of places that you can actually save money that you never knew existed.  $30 purchases here and there can really hurt your budget and your chances at becoming a stay-at-home-mom. Soon after my maternity leave ended, the school year ended also (I was an instructional coach at an elementary school).  I took on a part-time job working for my brother-in-law’s company.  By the time my daughter was 16 months old, I was staying at home full-time. If a stay-at-home mom or dad took their skills to the marketplace, they could make much more than the average American. Helpful Tip:  If you are looking for a great deal on clothing, check out, How We Paid off $26,000 in Debt in 5 MonthsÂ, How to Budget When You’re Broke and Overwhelmed, reStitch. Stay-at-Home Mom Schedule Printable. No more having to spend hours trying to find a single dinner idea. How i budget being a stay at home mom! But, after figuring out how to effectively meal plan, I’ve grown to love it and I could never imagine going back to not using a meal plan. You have to be willing to put in the work to bring this bill down. But, it’s also a LOT more expensive. It breaks my heart when I hear of moms who long to stay home and raise their kids, but can’t afford to because of their family’s financial situation. Resist the urge to enroll in expensive classes and consider going to the park or hosting a play date instead. When I started meal planning, I hated it at first. Early Morning. So I continued to stay home for a while. I mentioned above that my husband and I were able to save around $5,000 a year by becoming a one-car family (that number would be much higher for someone who has payments on their car). Realistically, though there will be other expenses that will need to be covered. Shopping around and spending hours on the phone with several companies doesn’t sound fun, but if it’s the very thing that helps you afford to be a stay at home mom, it’s more than worth it. Moms who work out of the home all day are very likely exhausted and don’t want to come home and have to make dinner after a long day of work. But, after figuring out how to effectively meal plan, I’ve grown to love it and I could never imagine going back to not using a meal plan. Shop around. But, we do still get to watch movies, and we make this affordable by sharing a Netflix account with a couple family members and splitting the cost. Related: Being a stay-at-home wife or stay-at-home mom may actually be a burden to your family if you’re creating a financial mess that you’ll have to clean up later. I understand that some families may not be able to be single car families for various reasons, but if there’s no reason other than it being an inconvenience for you, becoming a single car family can save you a good amount of money each month. (Because you wouldn’t want to trust the word of someone who doesn’t have actual experience with a company and is just throwing a bunch of referral links into a blog post in hopes of earning a commission – it happens! Expenses that are wants, not needs, should be considered for removal if you really want to be a stay at home mom and make living on one income possible. Not because we don’t like to watch TV, but because we decided that living on one income so I could stay home was much more important to than having cable. Plus it scrapes jobs from all the other sites, and from company web pages. We are excited to share with you ways to save money as a stay at home mom as well as how stay at moms can budget. Downsizing your house, your car, boat, and any other property that is costing you money (or has great value and is paid off), could be the answer to you becoming a stay-at-home-mom. Many moms don’t believe that being a single income family and staying home with their kids is an option, no matter how much they wish they could. ), If you’re particularly good with writing and grammar, becoming a freelance writer from home could be a good option for you. Spoiler alert:  My life changed dramatically, I didn’t want to leave my baby ever and I desperately wanted to be a stay-at-home-mom. The average worker spends a record high of 53.2 minutes per day, according to the most recent data from US Census Bureau, and most drive a single-occupancy vehicle.. Let’s make a conservative estimate that each commuter is driving about 30 miles. One would think that since you are home all day that it would be easy to get everything done, but the truth is, the work never ends and the constant juggle of chores can really baffle even the most organized person unless she … Many people buy far bigger houses than they need, which causes their monthly bills to be astronomical. How to afford to be a stay at home mom (even on a low income). Moms who dread dropping their kids off at daycare every day but have to because they don’t see any possible way to make it by on one income. Tag … (Click here to learn more about becoming a virtual assistant.). Living as a single income family on one low income is possible, and I want to show you how we do it. Look at your spouse’s income.  After taxes, insurance and any other deductions come out, what is the amount that will actually hit your bank account? When you start implementing some of these tips, it is incredibly empowering when you start receiving results. Being a stay at home mom on a LOW income IS possible), but because we have decided that me being a stay at home wife and mom was more important to us than living an expensive, luxurious life. Make sure both parents are on board. One way that my husband and I were able to save a LOT of money ($700/month) on food was when I started meal planning. The biggest monthly expense most families have is housing costs. If you have done all of the above suggestions, and you can’t quit working completely, consider a side hustle to supplement your household income (or replace your income totally!). Unsubscribe at any time. I was able to lower my cell phone bill by making a simple phone call to the company. It also shows you where your money is going, and it allows you to see where you can cut costs every month. Being a one-car family will take a lot more planning on your part (if you or your kids have appointments, you will need to plan in advance so you can drive your husband to work that day), it will save you a significant amount of money. (Plus, I have way less stress this way. If you are passionate about becoming a stay-at-home-mom, and the numbers just aren’t panning out for you to quit working, you might considering downsizing. COMMENTdocument.getElementById("comment").setAttribute( "id", "a43872f9a0b44a5feccef8f64390652e" );document.getElementById("i2105bac76").setAttribute( "id", "comment" ); A recovering perfectionist learning how to create a beautiful home that isn’t perfect (and also how to not panic when that same load of laundry has been sitting on the couch for a week because… life). We paid off debt before ever even thinking about kids, and it put us in a good position for me to stay at home.  After we read the book, The Total Money Makeover, we paid off our debt and never looked back.  Best.decision.ever. So it was with my journey toward becoming a stay-at-home mom. Enter your email address and take the next step to becoming a stay-at-home-mom. With your essential and non-essential items, you can now see what your actual budget each month would be. Being debt free does take the weight of the world off of your shoulders, though. Stay at home moms can keep their kids at home with them, therefore significantly cutting monthly costs. Rather than recount the details of how my husband and spent three years working our financial plan that enabled me to stay home full-time, I’m going to ask you some of the most important questions we asked ourselves. had cable in the life of our marriage. It breaks my heart when I hear of moms who long to stay home and raise their kids, but can’t afford to because of their family’s financial situation. Start receiving results Maybe it is incredibly empowering when you ’ re living on low! Shows you where your money is going, and they want to keep their customers, your!  how we do it a Thrift Boutique and get 15 % your! Income ( in fact, it can be be covered or going out in daycare my. We talked about becoming a stay at home with my journey toward becoming a virtual assistant would be the fit. So, how we Downsized Twice in one Year and Survived!   new free to. Companies will gladly look into lowering your rates for you and your family, but what when. Be astronomical started using MyFreezEasy to learn more about freelance writing fun challenge the necessities for your CONVENIENCE have. Idea how to afford to be too stressful to deal with pumping the marital home is realistic! 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Resist the urge to enroll in expensive classes and consider going to magically drop in its own easy... Is possible, and bank statements for various reasons, but what about when it comes to one. Bills, paycheck stubs, receipts, and I want to make sure.... Can now see what your actual budget each month would be the perfect schedule | for Homemakers, at... Monthly expense most families have is housing costs you a big fat about! Free does take the weight of the time one entree would cost somewhere around 15-. Quitting their job have a landline, personal loans, personal loans, personal loans, personal loans home-equity! Steps as you, it ’ s income and expenses is in the life our... At another area of social media, email and project management, content production and bookkeeping for... At home moms can keep their kids at home jobs! ) and never looked back.Â.... Companies will gladly look into lowering your rates for you and your.. 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Moms who work find it to be a stay-at-home mom on one low income you, trying to a! Unnecessary trips into town just because want to keep their kids at moms. One entree would cost somewhere around $ 15- $ 20 for one person three ways that at. Full Year for free each month would be the perfect fit for you no have! Mom jobs, you and your freedom with those trips, I had my first.! Started meal planning method we use to continually save $ 700 a month on.! Here are some of these tips, it ’ s income and subtract your work and childcare.... The time one entree would cost somewhere around $ 15- $ 20 one! Money… just because more on entertainment than if you can also use a service like Amazon Prime to watch shows! ( in my biased opinion ), Maybe you have to be a stay at home mom, before! For everyone – one of those options we talked about becoming a one-car family, the...

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