The question has come up a few times about staying at home with my son rather than working and paying for daycare. There are books about the true costs of working rather than staying at home and admittedly, they are high. Daycare, work clothes, gasoline, car maintenance – they all add up. Anyone who files an online tax return knows that there are lots of deductions that can be taken for work-related expenses but still, they aren’t always enough. So why don’t I stay home?
Our mortgage is more than 50% of our income.
My husband and I make nearly the same salary. The math is pretty easy on that one.
Would I stay home if we lived in an apartment? Unlikely. We wouldn’t have daycare expenses, but we’d have to squeeze out rent and healthcare from our current budget and it’s tight as is.
Once we finish paying off debt, we’re looking at two options: 1 – Hubby finds better employment or 2 – We move out of state.
Being debt free has always been so far in the future, we never had to think too seriously on either front. Now that we’re two months away, we are starting to consider both options. Once we save up our 3 – 6 months of expenses, we’ll make the leap.