How to Afford to Stay Home with Your Kids

Do you and your husband feel that it's important to have a parent at home? Are you like many families and think you need your second income to make ends meet? Katie felt the same way when she and Jared started to think about her being at home with their new bundle of joy. Katie has a bachelor degree in Elementary Education. She worked hard for her degree. At the time that Katie got pregnant she taught second grade. She loved her kids and the school that she worked for. She was making okay money. She felt her income gave her and Jared a comfortable lifestyle. Katie and Jared looked at their budget to see where they could cut their cost.

Katie had a new sports car that gets bad gas mileage. It only had two doors. It also had a large $ 400 car payment. Katie and Jared put her little sports car up for sale. Then they bought an older with four doors. The couple was able to pay cash for the car .So they cut out the second car payment. The car was older and paid so they were able to care only liability insurance on the vehicle. They were able to save $100 a month. Without Katie working the car didn't need as much work done to it. For example the oil was changed less often and she used less gas also.

Something else Katie wouldn't have to pay for is professional clothing. As a teacher Katie needed to look her best. She spent a least $100 a month on clothes. She also would have to pay for lunches outside the home. Even eating in the lunch room, Katie was spending $25.00 a week. By making sure that she eats at home Katie saved $100 a month. Katie also didn't have spent money on her classroom. As most teachers, Katie, spent around $100 a month on the supplies for her classroom. So by being at home she no longer had to do that.

The couple had a little bit of credit car debt. Through cashing in Katie's retirement fund couple was able to pay off this debt. Katie and Jared decided to cut out their cable out. Katie cut their phone service to the minimum plan. They made a decision to only eat out every few weeks. Jared also took his lunch daily. This is also a much healthier option.

Another option that Katie thought about was tutoring in the evening or online. With tutoring in person Katie could make around $20.00 an hour. She also could keep her teaching skills sharp. She also looked at opening a daycare in their home. She would make a good income and enjoy being home too.

Overall Katie and Jared cut out most the extras for Katie to stay home. Katie learned to cook delicious meals. She also learned to shop a second hand shops that for her little one's clothes. When things got tough the couple worked together to make her staying at home.