Originally Posted by longtallanimal
I have a question for all the SAHMs. Did you figure out budget-wise if you could afford this before you had kids? What was your evolution from working to not after you had a baby? Was it part of the plan? DH and I live pretty frugally, with the exception of travel, which is a shared love, and I feel like we could make it work with his income alone, especially since we have no debt and a pretty big savings account. However, I don't want to put all the financial pressure on him, since he has a tendency to stress about money. How did you & your partner figure out that you could make it work, and what kind of lifestyle changes did you make in order to succeed?
The time came for me to return to work, and I couldnt do it. We looked at what DH could make and decided if we eliminated all unnecessary spending and pulled things in really tight, we could do it. FWIW, our GROSS for last year was $24,000 and things have been way more flexible than when I first stopped working. I dont really understand it, but I think we are just used to not spending, and we recognise the flexibility within our budget. IDK.
Our cars have both been paid off for some time. We cashed out my retirement and paid my hospital bills off. We had already paid down any debt before the baby came. The only thing we cant pay is school loans. My husband racked up HUGE loan bills, so we do the income based repayment program now.
DS is on medicaid. We utilize WIC, though we dont get all the food. We will be eligible for food stamps in August, we should be eligible now, but it gets confusing.
I am on medicaid while pregnant. I had a high deductible insurance plan for a while before i got pregnant, but with all the local resources for low income, it just wasnt worth it, so I dropped it and just go without health insurance.
We dont have cable tv. We do pay for internet, and we have cell phones. DH's work pays for his, and mine allows me to talk to my family all I want, so it is completely worth it.
I dont have a big faith based feeling on it. We just decided to make it work. We decided it was more important for me to stay home than to feel more comfortable finacially. We are lucky to have a cars paid off and to have a low morgage payment. If one of our cars dies, we will probably have just one car. We live on a fairly strict budget and really have to stick to it, because the money just isnt there.
I feel bad that we are having another child. We werent planning on it. I feel like I am irresponsible because of it, like we should have been more careful. But, it's done, and I cant take it back although I can say confidently that we will not have any more children.