[riche123]

I was trying to come up with a place to ask this. I want to be a stay at home I have a baby boy at 10 months but we can't seem to make the munny how should we do it? My husbened wants me to we just can't figure out how to make the munny work.

[riche123]

I was trying to come up with a place to ask this. I want to be a stay at home I have a baby boy at 10 months but we can't seem to make the munny how should we do it? My husbened wants me to we just can't figure out how to make the munny work.

[jenastar]

Welcome to the board! I think it's really cool that you're thinking about staying home. I think it's a good idea to try to plan out as best you can how it will be financially. There are definitely things you can do to cut your expenses. What we did before I started staying home was to take my income and put it in a separate account. We tried to pay all of our bills using DH's income and not touching mine at all (except for my work-related expenses, like transportation, food, and work clothes). You'll be able to see pretty fast if it's workable. Make a list of your monthly expenses, then see where cuts can be made. We wound up lowering our phone plans, cutting out our landline phone, getting rid of cable (temporarily), and learning to shop in a smarter way.

If you haven't already, swing by the Frugal Families board. You can get a lot of tips there too: http://forums.ivillage.com/ivillage/?category.id=iv-ppfrugal

[mom2boys0204]

You really need to look at your budget, and what you are willing to sacrifice to make it happen. Take your husband's income after taxes and start with the absolute necessities, housing, transportation, utilities... food... if there isn't enough money you have to make tough choices. Can you move to someplace that costs less, get rid of a car or replace with something that costs less. If not, is a second job an option... or finding a better paying job. You need to make sure there is a cushion so you are spending every cent in case an emergency comes up. I'm a firm believer that most people can do it if they really have the desire but it comes down to what are you willing to give up. We lived with no cable, no cell phones, 2 older paid off cars, very simple food, no eating out... the first 2-3 years was pretty rough but it was what was right for us. There are also programs you might qualify for, we still get WIC for the younger 2 which helps a lot with milk, cheese and cereal. Our kids also get medical through our state program which really helps since DH's insurance has a high deductible.

Basically if the money isn't working you either need to cut back or find a way to make the extra money.

[mandak78]

We did like Jen suggested and put my paycheck away for a few months and only lived off my husband's paycheck. We also cancelled our Internet (until he got a raise) and really decreased our eating out. I buy generic brands when I can and look for sales on clothes. I hardly ever buy any clothes that aren't on sale. I don't buy "convenience foods" like frozen lasagna or tv dinners. They aren't nutritious usually and I can make something similar from scratch for less money.

You just need to decide what luxuries you can do without and try living off his income for a couple of months. You may not be "livin the life" but its worth it.

[littlebaker5]

Alright, third time lucky -- maybe I'll get a whole response finished and posted this time. 

You've had some great advice given to you on how to see if being a SAHM might work.  The great thing about trying to live off one income for a while is that it's a really safe way to try it out, since you do still have that second income, and putting your income away means that regardless of whether you do decide to stay home, you end up with a nice emergency fund in the bank.

One thing that we found, and I think was already mentioned, is that while I don't make a steady income, having me stay at home has lowered our expenses.  For instance, we pay no childcare costs; I have no work-related expenses like gas or clothing; and I am able to make much more food from scratch, go shopping in the US and also plan some of my shopping around sales, all of which save us lots of money on groceries (shopping in the US saves us up to 50% on most things, and even more on things like chicken).

It's also possible to take on a little work on the side, especially if you enjoy having something outside the house to do.  I do a bit of work for my dad in the evenings, after the boys are in bed, as well as cleaning my parents' house every other week, which together make an extra few hundred a month; and I pick up a shift or two at work every once in a while.  You may find that either working part-time or finding a new job that's not the regular 9-5 might be a better option for you than staying at home.

I hope that you and your DH are able to find a solution that works.