How to Quit Full Time Work to Be a Stay at Home Mom
Mothers often work full time to help support their families, but many feel dissatisfied with their work situations. A Pew Research Study found that in 2007, 19 percent of moms working full time would rather stay at home. If you work full time and want to quit your job to stay home with your children, make the transition with some preparation and good financial management.
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Instructions
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Make a budget. Add up housing, food, utilities, insurance, savings, entertainment, credit cards and medical expenses. Determine whether you can afford to live on one salary.
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Reduce your living expenses. Keep a diary of how much you spend on groceries, clothing and entertainment. Clip coupons, buy from less expensive stores and eat out less often. Identify expenses that you can eliminate or reduce. Choose a less expensive cable plan, give up expensive vacations or even sell one car. Eliminate debt if possible.
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Practice living on one income. Put all your income into a savings account that you never touch, and pay all expenses with your partner's income for several months.
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Find ways to supplement your income if necessary. Use your talents and work experience to develop a job you can do from home. Start up a home business selling crafts, provide child care or find a freelance writing job. Discuss with your boss the possibility of altering your current job so you can work from home.
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Tips & Warnings
Working entails a number of expenses you won't have if you stay at home, such as daycare, travel costs, business clothing and higher income taxes. You may find that staying at home won't reduce your income as much as you think.
Quitting your job may mean giving up important benefits, such as health insurance. Find health insurance for everyone in your family either through your husband's job or a private insurance carrier.
References
- PewResearchCenter; From 1997 to 2007 Fewer Mothers Prefer Full-Time Work; Paul Taylor, et al.; July 2007
- "So You Want to Be a Stay-At-Home Mom"; Cheryl Gochnaur; 1999
- BabyZone; Becoming a Stay-At-Home Mom; Christine Beaudry
- Money and Risk; I Quit My Job to be a Stay At Home Mom During a Recession; Kristina Quinones; August 2010
- Photo Credit Jupiterimages/Comstock/Getty Images
