How to survive being a stay at home mom financially 2022
For example, in some families with two parents, the work partner may enjoy grocery shopping, food preparation, and food preparation, so he either takes on these tasks exclusively or shares them with the homestay partner. Many mums will take full responsibility for finances, while others will feel more comfortable with the “allowance,” so to speak.
Financial Freedom as a housewife :
If you want to find financial freedom as a housewife, you need to be creative about working, connecting with colleagues, and earning money. If you want to be financially independent, you need to find a way to generate income. These options aren’t always easy, and you often need support from your spouse or partner to make them work, but they can help you achieve financial independence.
One option is to start a business that you can do from home. You can start a home business that relies solely on the Internet, such as consulting or something that allows you to work away from home. If you work several nights a week or on weekends (when your spouse is looking after your child at home), you can make money without spending some of your earnings on childcare.
Aside from the often complex logistics of having two parents work outside the home, returning to work after childbirth does not always make financial sense. Your income opportunities are more limited than those who can work, and you have to take up employment as a full-time parent.
If a parent’s income is less than or equal to the cost of caring for a child, staying at home may seem like an obvious choice if the other parents’ salary can cover your family’s living costs. However, if you have two or more young children, all of whom need constant care during the day, childcare costs may end up wiping out your paycheck or reducing your pay to full-time. not worth the effort.
Spending Time as a Mother :
According to economists, even if she had a job, a mother would spend an average of 1.35 hours looking after her children. According to ATUS, married mothers in full-time jobs spend 1.35 hours a day looking after children. Married full-time mothers spend an average of 0.8 hours a day preparing meals and then cleaning. On average, they spend almost twice as many hours on childcare and housework as working mothers.
Remember, an economist would calculate the marginal cost (added value) of childcare provided by a housewife mom by subtracting the amount of time working mothers spend on the same task.
Educated Mother :
In other words, all mothers should have some degree of childcare and household chores, whether or not they work outside the home. This level serves as a kind of foundation: the work that mothers do, as it were, for free, due to the nature of their maternal responsibilities. Housewife parents may have more time to support their children’s school development than parents working outside the home, who may not be able to spend as much extra time helping their children with homework or meeting their needs with homework.
In many cases, childcare costs can exceed the annual income of many parents. A chronic lack of income can quickly lead to the destruction of your family. If you’re the main breadwinner in your family, a reduction in income could change your entire lifestyle.
Financially stable :
Many parents who choose to stay at home have a financially stable spouse or partner who is willing to make the financial sacrifices necessary for a single-income family. However, some parents never return to full-time jobs, and that doesn’t mean they are doomed when it comes to retirement.
While the reasons for this vary and the choice is individual, there are several considerations that homemaking parents need to take into account before taking the plunge to make sure they can truly afford to stay at home and protect their family’s future finances. When you become a householder, you end up giving up all sorts of things, and one of the things that you may no longer have is financial independence.
Proper Planning :
While the opportunity cost of staying at home is a loss of income from the profession, housewife parents can secure a stronger financial foundation for themselves with proper planning and open discussions with their partners. Creating a solid financial plan that takes into account expenses, retirement, assets, and guaranteed income will allow you to support your family as a stay-at-home parent while leaving the door open for re-entry.
Consider Financial Advisor :
Consider a financial advisor to help you with your retirement goals and budgeting strategy. Many mums may not save money for retirement if they think their spouse will take care of retirement planning. But keep in mind that just because your spouse is planning something does not guarantee that he will plan well or that you will be protected if the unexpected happens.
If you plan to file for divorce, be sure to prepare financially for what may happen after you file for divorce. In some cases, the other spouse may make it very difficult to withdraw money. But for long-term financial security, it’s important for both spouses to maintain financial independence.
This way, you will have a sense of financial independence and it will be a win-win situation. Not only will this help your family make ends meet, but it will also provide you with some financial stability. You will also be able to keep up with the latest trends in your profession and stay in the market.
To maximize your chances of earning a decent paycheck when you’re ready to return to work, make the most of your time at home. If you spend several years out of work to be at home, you may be changing your expectations about when you plan to retire to catch up.
Working parents have to cope with work, daily commuting and other activities that prevent them from spending time on recreation and entertainment. Experts say it’s especially important for home moms to be actively involved in family finances and not expect (or allow) their husbands to take care of everything. Many moms shift financial responsibilities, such as paying bills, planning retirement, and budgeting, to a financially contributing spouse.
Even if the parent of the household does not generate income, if something happens, the surviving parent will incur additional costs, such as childcare. If childcare costs bring your wages down to zero, you can try to find a part-time job.
If I received a nickel every time my mother told me that she needed to work for her family in order to “survive,” I would have enough money so that this mother could stay at home with her children. If a working woman genuinely wants to stay at home to raise her children – now or in the future – there are often ways to make this possible.
Six tips to follow : How to live on one income ? | Become a Stress-free Financial Status
“Our men need us to believe that they are responsible and that they’re capable and that they can lead and provide for their homes. If their wives don’t believe that and they’re making it clear that they don’t believe that then they are going to believe that about themselves. “- So here I’m going to share six tips with you about how you can afford to be a stay-at-home mom.
I became a stay-at-home mom three years ago when I had my second child my daughter and my husband and I realized that it would be kind of pointless for me to go to work. I’m a daycare teacher by trade I guess or I was before I started staying home and my son attended the daycare that I worked it I received a 40 discount at this daycare.
And my boss was kind enough to do the math for me and let me know that once I had my daughter and they were both attending daycare I would bring home about 300$ a month it put us in a weird position of realizing that it just wasn’t worth it three hundred dollars for me to be away from my kids for six to eight hours a day so that is why I’m a stay-at-home mom. And I’m gonna share all these tips with you about how we have made it work
1. Stay at home mom Cut things out :
Get a piece of paper and write every single one of your bills down and I mean every single one and not just your Rent and your Water and your PUD (Public Utility Providing) and your Phone bill. But all the weird little ones like if you have like a Spotify subscription or an Amazon prime subscription everything. Everything that you spend money on put it on paper on a list and then total it and then total your husband’s income.
His take-home income and then start hacking away at it get rid of things that you don’t actually need even though they’re really awesome get rid of them you don’t need Spotify you don’t need amazon prime you shouldn’t be shopping at amazon prime anyway if you’re going to go down to one income if you can cut it cut it just get your overall bills down to the lowest possible amount.
Then look at those bills and think how can I change them like internet for example do you need like the ultimate internet package maybe you do, but if you don’t think about cutting it down just what can you cut down what can you do without that’s; the first thing that you need to do if you cut everything that you feel like you can cut.
If your husband’s income will still not cover all the bills then it’s time to cut some more things that you feel like you can’t do without what you really can like internet completely cable completely all your subscription services you can even call pud and see if they like if you qualify for them to put you on a fixed rate I think if you live in a place for more than six months you can actually call them and ask them to average your like the use of your electricity and your bill would be the same every single month how big of a blessing would that be.
2. Stay at home mom plan your meal and Grocery shop Wisely :
This is going to kind of fit into your what I what we were just talking about if your husband’s income isn’t going to cover your bills and you feel like you have cut everything you could possibly cut.
The next thing is going to be food not to cut food; that’s insane but to rethink food, rethink how you’re spending money on food. Don’t get name brands, get off brands it is like two dollars cheaper and if you’re doing that for every item in your cart that’s two dollars off, two dollars off, two dollars off it’s going to add up to be a huge savings for you.
Try to shop with discount grocery stores I don’t know what it’s like in your area but in our area we live we have a grocery outlet and we have our two discount grocery stores and we shop for everything there the only thing I would say with that is just to be careful to check dates on stuff that makes sense to check dates on milk.
There has been many times that we have not checked and we’ve accidentally come home with a gallon of milk that was going to expire the following day. That’s kind of why it’s a discount grocery store they have stuff that’s going to go bad faster. I know for grocery outlet it’s like other stores have like an overstock and so grocery outlet takes those things and sells them for cheaper.
So just check dates on stuff and just be mindful like we got a box of Applesauce pouches once that was technically already expired; like that week or something it was expired and we bought them anyway because it’s Applesauce use discernment about things if it’s like bad but it’s not actually bad grab it.
If it makes sense for your family get a Costco membership and buy things in bulk but most of all just meal plan don’t go to the grocery store without a list because you’re definitely going to overspend and then you’re going to end up having to go back to the grocery store two or three times.
To get random pieces of things that you need to make whole meals and you’re gonna end up feeling defeated about your budget again piece of paper Sunday through Saturday What are we eating for dinner? What are we eating for lunch? What should we eat for breakfast and make a very specific list.
Whatever it is make a very specific list and then do not stray from your list food is just the number one place that you can cut your budget and it’s our number one struggle when it comes to our budget I am that housewife that hates cooking so meal planning is very tedious to me and cooking is very tedious to me. It’s so hard food is just the biggest thing that brings me into the third tip.
3. Stay at home mom prepare yourself to Say No :
Say no to each other make a pact between the two of you and your husband that if one of you asks for coffee the other one is going to say no. If one of you asks for soft drink the other one is going to say no.
If one of you asks to go to fast food the other one is going to be strong and say no because at the end of the month if you guys go out again and again and again and you get coffee and soft drinks from the vending machine at work and whatever it could be you will inevitably two dollar yourself into not having enough money for rent.
Speaking from experience here your husband needs to pack lunch and he needs to eat that lunch and if it’s not enough then you guys need to recalibrate your meal plan and make more or make more filling meals for him to bring so that he’s not asking you to buy extra food at work. Because just food is the hard one but you just have to really plan well.
4. Stay at home mom try not to Do window shop :
That means on your phone too don’t scroll through people’s stores if you’re scrolling through Instagram or Facebook and you see an ad or something adorable. Don’t click on the store don’t even do it don’t just think oh I wonder what they have no because you’re going to see like an amazing sale and like oh well it would have been 50 but now it’s 20 and how could I even pass this up no; don’t even window shop.
Don’t look at things that you can’t afford to actually buy because number one, you can’t afford to buy it it’s going to kill your budget and number two. it’s gonna lead to a lot of discontent about your life I mean that’s the whole social media thing in general just like comparing yourself like oh well she can afford to put like this adorable bonnet on her baby and oh if only I could do that and then you feel really discontent about the hat that your baby does have.
I know we all do this so just don’t even do it keep scrolling or if it’s really upsetting you and it’s like hard to fight off the temptation just stay off of Instagram for a while or I say Instagram because that’s where I live to take a social media break take social media break for the sake of your budget and your sanity and your happiness.
5. Don’t ten dollar yourself to death : stay at home mom
This is something that my husband and I do kind of constantly we’ll be like walking through Hypermarket and we’ll have a list and we’ll wander from the list because it’s Hypermarket target’s even worse I swear I almost can’t even go into target. Because there’s just so many things that I think oh I want that we’ll see things and it’ll be like oh it’s only ten dollars like that’s awesome it’s just ten like threw it in the car.
It’s only ten dollars and if you do that ten times it’s a hundred dollars and then you get to the checkout you’re like what happened how did we just spend 400 we only had 120 to spend here and then you do that thing where you’re embarrassed at the checkout.
So instead of putting stuff back you just swipe your card and leave I know we’re not the only ones who have done that if you see something great and it’s ten dollars or five dollars think to yourself Can I actually afford this? Where am I gonna put it in my house? Am I actually gonna use it? Do I need it? Don’t let ten dollar yourself to death.
6. Support your husband 100% as a stay at home mom
Yes support him at his job and well I mean just in general but at his job make his lunch make sure his work uniform is clean and ready for him to wear it. Put a calendar on your fridge and write down when he has meetings if he tells you. My husband usually will tell me like, I have to be at work next week on Thursday.
Because there’s a meeting at 11 and when he tells me that I’ll immediately just write it on the fridge so that he has it there and he can see and not forget. Also I can see because I always glance at it in the morning and be like remember you have that meeting this morning and he’ll be like yeah I remember.
The secret to having a successful confident husband is for you to be the wife that believes in him. So much he can’t fail that sounds kind of cheesy. But I cannot stress to you how important it is and how I have seen my husband grow because I believed in him and because I supported him.
All you to know is our husbands need us to fuel them that’s our job like biblically where they’re help mate we’re supposed to serve them in love and I know that can like trigger a lot of people it’s just the truth and there’s nothing wrong with.
This sort of dynamic in your marriage our men need us to believe that they are responsible and that they’re capable and that they can lead and provide for their homes if their wives don’t believe that and they’re making it clear that they don’t believe that then they are going to believe that about themselves and inevitably not do well and have a very hard time with their jobs. I have seen my husband grow so much since becoming a stay-at-home mom and he has kind of been forced into this role as sole provider.
He was scared at first it was a lot of pressure on him and I’m sure it’s a lot of pressure on your house a lot of pressure on our men to completely financially support your whole life acknowledge that like verbally to them say like I know that you are, I know this is kind of all on you and I really appreciate you working this job even though it’s hard even though you don’t like it and I love you so much for working hard for us.
All of us husbands need to hear those things from us and our husbands need us to support them as they are filling this role for us I think as wives we forget how much weight we have with our husbands and what they think about themselves and how they value themselves just think. So those are my six tips for how you can afford to be a stay-at-home mom. Apply in your life and have a successful financial status.
My name is Susanna and in addition to managing the hypeladies – Moms Life site; I am also a mother of 2 Children. I’ve been in a lot as a mom including money management, healthy lifestyle, different needs, parenting, 9 to 6 job, working from home, going for walks with my personal groups while raising my kids, world tour with families and much more. !!! I share all of My Experience to motivate all Moms to stay strong so that all succeed in life. Have A Nice Reading