Finances of stay at home mum V working mum

shomk

My husband and I would like to start a family and although I would like to be a stay at home mum (for a while at least) as my salary contributes to half our income I dont know if this is possible.

Does anyone have any advise? Does the government offer any financial help to stay at home mums?

I'm pretty sure its not an option for either of our parents to look after our children so then childcare is so expensive. Ive heard of people paying everthing they've earnt at work to childcare!

Any advise and experience welcome!!

Millie's_Mum

No the government does not offer any financial help to stay at home mums (I wish!)

If its something you are seriously thinking about then why don't you find out about how much childcare costs in your area and have a play with the figures?

There are so many variables that its hard for anyone to tell you what would work for you, maybe you could go part time or both of you could change your hours so that you share the care between you, maybe doing longer days on the days you work or working weekends.

For me, i was earning more than i was spending on childcare but not by a lot. I am now a SAHM and we are now managing on one wage but its not easy and my partner works long hours, we've had to cut a lot of things out of our budget and we do have to live on a budget to make it work.

alwaysonthego_2

There are certain benefits like tax credits but this depends on your dh's annual salary. If you want to give your dh's salary figures I can be more specific.

tiamai_d

Go to entitledto.com and make up some children and find out what you would be entitled to claim based on your OH's earnings.

Could you survive right now on what he earn's alone? Will it pay the bills? Is there the posibility of downsizing to cheaper housing etc?

LISSILEIGH

i have been a sahm for 7 years, but have worked on and off doing jobs that fitted around my young family.

i must say it is hard work, as i get no help financialy apart from the money my lovely husband works damn hard for! plus the basic things everyone is intitiled too.

we have 3 children all under 7, initially having 3 under 4, so the cost of childcare and the fact that my husband worked away meant that it wasnt financially or pratically viable to work full time. i also dont have any family support that i could use (which i dont think i would anyway as it was my choice to have the children)

i have now started on a total career change, as i used to do engineering. i do 2 days voluntary and spend the other days at home with my youngest daughter. as i recently lost my job, and need to gain experince in order to get the qualification (which i am funding myself)

my husband does earn good money, and we have a decent standard of living, we buy things when we have the money to do so. we have 1 car which is old but reliable and dont go on foreign holdays (i dont mind about either of them). we are not materialistic and have been both brought up very much the same that if you cant afford it you dont have it.

WE have done everything by the governments rules i.e. got married brought a house, worked etc. but you only get help in this country if you cant be arsed to do anything for yourself.

I would say if you can cope on one wage and are happy to live the life of a one waged family do it.

I lost my job recently and at the time i was paying nearly £800 a month for my children to be looked after (which was all of my earnings, but i did it to gain qualifications in my now chosen career path. lots of people said i was mad, but i hope in the long run i will benefit from the path i have chosen).