Maintaining a career while being a mom has always been a huge part of my identity. Being the youngest of four, I just thought it was normal for my mom to be home with me.
Balancing the demands of working, parenting, relationships and life can be draining. In some cases, it might be less burdensome to focus on parenting or working rather than both; in other cases, you might find it isolating to quit a job that’s meaningful to you.
Start With What Matters to You…
List out all of your regular monthly household expenses : - Housing – Utilities – Groceries – Eating out and entertainment – Clothes
Calculate your baseline spending
Note expenses that might be unique or different when you’re working as opposed to when you’re not.
Calculate work-specific expenses
Think about whether there would be any additional expenses if you didn’t work. For example, if your family is on your health insurance through your job, would costs go up if you quit?
Account for any extra stay-at-home expenses
If you and your partner would both consider being the stay-at-home parent, try totaling these two scenarios (working and non-working) for each of you.
Do the math for your partner, too
Total your monthly household income from all sources (remember to subtract taxes). How much does your family bring in when both you and your spouse are working?
Understand your current income
Approaching this decision in advance allows you time to not just save money, but also to take some time to dream about what your ideal life looks like.
Remember That Nothing’s Permanent
To learn more, visit Media Feed.