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Saving Money by Being a Stay-at-Home Mom


Depending on your individual situation, it may be that you will actually save money by being a stay-at-home mom, as opposed to continuing working outside of the home. While this is especially true for families with three or more children, depending on the local childcare market and the job that you have outside of the home, it can even be possible for a family with one child to actually be saving money by the mom being a stay-at-home mom.

To know whether you would be saving money by being a stay-at-home mom, you have to be aware of exactly what it is costing you to work outside of the home. You need to know not only how much you are paying for child care, but you need to factor in the cost of the gasoline that you use to get your child or your children to child care, for example. In addition, you need to be aware of the gas that you are using in the distance that you travel to your job, as well. You need to think about how much you currently spend on eating out for lunch, and whether or not this is likely to be more or to be less than if you are being a stay-at-home mom. You need to look at your insurance situation, and see what it will cost for you to be convered on your husband’s insurance policy instead of your own. Finally, you need to look at your tax situation, and see exactly how it will affect your taxes, both positively and negatively, by being a stay-at-home mom to know if you will save money on taxes.

One important thing to remember is that you won’t be saving money by being a stay-at-home mom if you aren’t careful to establish a budget and to follow it. If you have determined, for example, that you will save $50 a month by being a stay-at-home mom, you have to be sure that you aren’t adding another $100 of expenses that you didn’t plan on.



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