Ric Edelman has an article on his website regarding working parents. His site is ricedelman.com. He makes the case pro and con for one spouse to stay home with the children.
Financially, there are many costs associated with working beyond childcare, which can vary. There are commuting costs, clothing costs, lunch costs, and obligatory work collections and gifts.
He also mentions the mental healthiness of working, the adult stimulation, and the professional continuity of remaining on the job.
Having stay at home with our child, I can state that it was the best decision and an easy one for us. Bob and I never relied on my income to pay regular bills. We saved a large portion of it.
What we didn't plan for was his need to move. About 3.5 months before our daughter's birth, Bob desire to live in the country came up. I am a city gal. We struck a compromise with a subdivision with large lots just inside the city limits. We moved 3 weeks before Marney's birth.
A new home, a new monthly house payment. How did we handle it? Things were tight but still within his income. Because we were both committed to making ends meet on his salary, neither of us spent $ needlessly. Vacations were times to visit family; gifts to each other were minimal; we drove older cars; and we got by with little or no reserve for the first few years.
It is not an easy decision to stay home full time. It is one a couple must make together and commit to together.
'til later
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