Are you thinking of staying home after your baby is born? Or maybe you’re already back to work and thinking of leaving your job to become a stay-at-home parent? It can feel a little overwhelming to think about living on a single income. But being a stay-at-home parent can be incredibly rewarding and a great option for your family. All you have to do is open yourself to tweaking some of your daily habits and household spending.
Obviously, not all families choose to have a parent stay at home with their child. Every family and situation is unique. But if you want to stay home with your baby and are trying to figure out how you can successfully swing it, take a look at the tips below. Some of these ideas just might help you and your family cut back and live on one income.
Tips to Help You Budget to Stay Home With Your Baby
Cut the Extras
Ditch cable or satellite TV services, evaluate your gym memberships, and re-think any other monthly services such as house cleaners, home phone or lawn mowing and landscaping. It seems kind of obvious, right? But the truth is that we all get used to the way we live. And things that are really extras start to look a whole lot like necessities. So start off your planning by going over your expenses one-by-one; think long and hard about what is a must-have in your life and what you could do without.
Re-think Your “Needs”
Do you really need two cars? Or could you make do with one, saving the money you would be paying towards car payments, gas and insurance? Maybe you can do without home internet service because you have a great data plan for your phone.
Make It Yourself
If you don’t already, start preparing your food at home. Eating out, buying expensive pre-made foods and making regular stops at the local coffee shop can all add up really quickly. Also, making your own baby food can save you a ton of money over buying individual jars of food, too.
Entertain Yourself for Cheap
Check out books at the library, visit local zoos and museums on free days or hit up free local concerts around town. No one wants to get holed up in their house without contact with the outside world. Getting out and adding some free outside entertainment to your life is not hard! It just requires changing a few habits and keeping your eyes open to the possibilities around you.
What other tricks can you think of to help cut expenses to make being a stay-at-home parent and living on one income a reality?