Want to quit your job and be a stay-at-home mom? Consider these ways that working a corporate job is actually costing you money! How much money are you really making? Is it worth it?
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After eight years in the corporate world, I realized I wanted more than anything to be a stay-at-home mom. The problem was, at that time I brought home the larger of our two incomes. However, after some research and a thorough look at our spending, I found several ways my job was actually costing us money.
Stay at Home Mom Gear
6 Ways to Quit Your Job and Save Money
Gas and Commute Costs
First, there are the obvious costs of gas and commute. When I quit my job, I worked in a downtown law firm. I drove 15 miles one way and paid a monthly parking fee. Gas, mileage on my vehicle (or the cost of a second vehicle), and parking costs added up to a significant monthly cost. Typical commute costs include:
- Gas/public transportation
- Car Payment
- Vehicle Repairs and Maintenance
- Taxes and Registration
- Vehicle Depreciation
The average american annual commute cost (with no car payment) is just over $4000. You can use the commute calculator here to find out how much you actually spend.
It’s a common joke that the uniform of the stay-at-home mom is a t-shirt and yoga pants. I don’t recommend staying in your pajamas all day, but it is true that clothes you can stay home in cost lots less than business attire for the office. When you quit your job, your clothing budget should decrease dramatically. Other expenses in this category include:
- Dry Cleaning
- Uniform Purchase (Scrubs, etc.)
By far, the largest perk of being a stay-at-home mom is the savings in childcare expenses. I saw an article recently about the cost of childcare expenses being more expensive than college. According the the National Child Care Resource & Referral Agency, the average cost of childcare in the US is $11,660 per year for one child. In addition to the incredible savings, staying home with your child can open up many other opportunities, like homeschooling them if you wish.
Being home makes it easier to eat at home. When you don’t have to go to work, you can’t forget your lunch, it’s easy to have leftovers, and you don’t spend extra money on eating out or on special foods that are easier to pack. It’s also easier to get breakfast and dinner on the table when you are home to prepare it.
According to a CNBC report, the average american family spends over $3000 per year eating out. Get my best tips for saving money on groceries here.
Cleaning and Lawn Care Expenses
An increasing percentage of Americans now pay someone to clean their house, at least annually, and many on a monthly basis. Even more pay for lawn care services for over half the year. When you come home from a corporate job, you have time to do these things, and many other services you now pay for, on your own.
Less exposure for your children to viruses and bacteria at daycare can save you significantly on your out of pocket health care costs. You can choose to stay home during the peak sick seasons, and even run errands during less busy times of day.
You can make additional changes to impact your health such as:
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