Reply to Can I afford to stay home with the kids for 1-2 years?

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Reply to "Can I afford to stay home with the kids for 1-2 years?"

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[quote=Anonymous]With credit card debt like that, I agree that you have a spending problem. You need to fix that.

My husband and I had the exact HHI you did when I quit my job to stay home with the kids three years ago. Our HHi is now $150k. We are managing fine, but I basically buy nothing outside the essentials and those essentials are bought at Target or Costco. Our kids go to public school. When we go on vacation, we drive and stay with relatives. The older kids are going to one week of cheap sleep away camp each this summer and the rest of the time it will be Camp Mom.

When we were trying to figure out whether we could afford it if I stayed home, we lived on my husband's salary 100 percent for 8 months (through a back to school and Christmas season, too) and put my entire paycheck into savings. We only took out our nanny's pay from my salary.  For those 8 months, we lived like I was a SAHM. I packed lunches for myself instead of going out, did not buy new work clothes, etc. After living like that, we decided that financially we could swing it. [/quote]

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