More and more parents are finding creative ways to enable one parent to stay home, at least part time. Here are some questions to help you calculate the true cost of working, and some helpful budgeting links. You might be surprised at how much that second income is really worth!
Monthly Work Related Costs for the parent considering staying home:_________
Miles to work ____ x .46¢ per mile X # of work days____ = ___________
Or bus pass ____________
Work lunches _______________
Work clothes _________________
Other: office parties & gifts _____________
Professional fees, dues, subscriptions: _______________
Average* child care cost per month is _______________
FT Infant: $659
Part time Infant:$421
FT toddler:$621
Part time toddler:$395
FT preschooler:$581
Part time preschooler:$368
*Averages based on what Juneau providers charge for care.
TOTAL INCOME after taxes for the parent considering staying home: ________________
TOTAL COSTS TO WORK:_________________
Subtract the costs from the income. ____________________
Now consider each of your household budget expenses. Is there a way you could reduce expenses to equal this amount? (see www.cheapskatemonthly.com, www.stretcher.com, or www.thefrugallife.com/ for some great ideas!)
Is there a way you could earn income from home to meet this amount? (How about becoming an approved provider and caring for one or two other children?)
Staying home is not for everyone. Some people thrive, and are ultimately better parents when participating in the workforce. But what a gift for you and your child to experience this once-in-a-lifetime childhood together!
