Monday, March 12, 2012
I frequently hear from readers who want to stop working and stay home with their families. They wonder how it works? They say it is financially impossible, and want help. (This is for two-income couples.)
Obviously each situation is going to be different. Some mothers might be able to make a few adjustments and quit right away. Others are caught in so many financial obligations that it might take them months (or longer) to get everything in order before going home for good.
I want to recommend a couple of books, make a few suggestions and then ask the readers to share their own testimonies or ideas.
1. Essential Books
The Complete Tightwad Gazette. This is a manual for home economy, which is priceless. There are also sections to help the working mom who wants to stay home. I wish a copy of this book was given to every new bride!
Aunt Jane's Hero. This beautiful story was written in the 1800's. It depicts the life of a humble family who live on very limited means. You will be inspired, encouraged and motivated to have such a life.
- Write down every single penny you spend for a month. Then analyze this to see what you can cut out if you are no longer working.
- Make a budget based on your husband's income only. See what you need to do to live on those means.
- Make a list of all the things you are willing to do to save money. Will you cook foods from scratch? Will you carefully watch over the utilities to keep the bills down? Will you stay home more to save gas money?
- If you are no longer working, you should be able to lower your insurance rate because your car won't be used for "commuting." (Find other little ways to cut expenses. Each one will add up to a large annual savings.)
3. From the Readers
Readers, have you worked outside the home and found a way to quit? Will you share some of your experiences with us in the comments section? We'd love to hear from you! (You are also welcome to write a blog post and link back here.)
I realize this is a very serious subject for those who truly do not want to work outside the home. I know many mothers would love to be home full time with their husband and children. I hope the advice from readers will help!
If you are one of the mothers who wants to quit your job to stay home, please share some of the difficulties. Perhaps the readers can answer some of your specific questions in the comments.
What Happens when a Poor Family Gets into debt? - The Richest Man in Walnut Grove.
Such wonderful Wisdom - I Remember Mama - lessons from a Norwegian Family in 1910.
Is this true? - Only Rich People Have Clean Houses.
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This post is part of The Christian Home Magazine in the Financial category. To see more articles in different aspects of Home life, please visit the latest issue, hosted at Day by Day in our World.