Stay at Home Mom

While women from all walks of life can choose this option, it appears that stay at home moms are concentrated in the top 5% and bottom 25% of household incomes. In the higher income brackets, women do not need a full-time job to afford the desired standard of living. For lower-income women, the cost of childcare and other work-related expenses makes it difficult to find suitable employment.

Stay at home moms also tend to be slightly older than other mothers. According to the census data, 61% of mothers who choose to stay home with their children are age 35 or older. In addition to having more time to accumulate the necessary financial assets, older mothers are less likely to risk damage to their careers if they decide to temporarily withdraw from the labor force while their children are young.

Why do Mothers Choose to Stay at Home?

The decision to devote yourself to full-time childrearing is deeply personal. In fact, it’s the most agonizing parenting decision many women will ever make. The following are some of the reasons that mothers choose to stay at home:

• Concern about finding affordable, high-quality childcare
• An unsatisfying career path
• The need to support a partner with a higher-earning potential
• The inability to find suitable employment
• Religious values that support a commitment to home and family
• The desire to bring balance to a hectic family life

The Value of a Stay at Home Mom

Although there is a continuing debate about the best way to raise a child, full-time moms can take comfort in knowing that they are completely involved in their child’s upbringing. A stay at home mom (SAHM) will be there for her baby’s first steps and first words. She’ll be able to help her kids with homework and cheer at their soccer games.

While moms who don't work outside the home don’t earn a regular paycheck, they do contribute to the family’s financial health by providing childcare, cooking, housekeeping, and other services that would otherwise be paid for out of pocket. In fact, many people believe a stay at home mom’s salary would surpass that of most other occupations.

Making the Decision

If you’re considering becoming a stay at home mom, the first step is to figure out how much it’s costing you to work. Childcare, professional clothing, drying cleaning services, restaurant lunches, transportation expenses, and extra taxes may be eating up a large portion of your salary. In fact, many women find that staying home can greatly reduce their monthly expenses.

After you’ve determined your true financial contribution to your household, examine how you can “trim the fat” from your budget. If you stay home, can you cook from scratch instead of relying on expensive convenience foods? Could you rent videos instead of going to the movies? Could you start clipping coupons, buying generic brands, or shopping at your local thrift store? Don’t forget to ask your partner and your older children for their cost-cutting ideas, too!

While it’s important to make sure becoming a stay at home mom is financially feasible, don’t forget to make plans for your emotional well-being. Many women who are new to the SAHM lifestyle find that they become depressed from the lack of adult contact. Boredom, frustration, and resentment towards the working partner are also quite common. Volunteering, taking up a new hobby, enrolling your younger children in a community playgroup, or arranging a babysitting co-op with other stay at home moms can provide social interaction and a sense of personal fulfillment. If you’re planning to return to work when your children are older, you may also want to get involved in relevant professional organizations or enroll in continuing education courses to develop new job skills.