(Closed) Income to be a stay at home mom

posted 4 years ago in Finances
Post # 16
Member
905 posts
Busy bee
  • Wedding: July 2013

When Darling Husband and I first got married and combined our finances, we were making X amount together and were doing fine financially. In the past couple years, he’s gotten a few big promotions and raises, where he now makes X by himself, and I feel very comfortable for when we will live off just his salary, because we already lived off that salary once. We live in Southern California and that number for us is in the mid $100k range.

Post # 17
Member
14965 posts
Honey Beekeeper
  • Wedding: June 2011

Bare bones, life would suck on this kind of budget but we could make ends meet minimum: 100k.  More comfortable realistic goal 150k.

Post # 18
Member
894 posts
Busy bee

it’s super expensive where we live (near Toronto) so I can’t see doing it on less than $150k. 

Post # 19
Member
3425 posts
Sugar bee
  • Wedding: June 2016

I am in Dallas. Fiance is a teacher, and when I am a Stay-At-Home Mom it’ll be on 50k. Plan is to either apply everything I make in years prior to paying off a mortgage (housing is very cheap here, we’d pay about 200k for a house), or save up my income in the year or two prior as extra spending money. We will make it work. 🙂

Post # 20
Member
881 posts
Busy bee
  • Wedding: October 2006

Vineyard-bride15:  

+1 The GTA is insanely expensive. That’s why we live in Simcoe region. 

Post # 21
Member
915 posts
Busy bee
  • Wedding: November 2014

Darling Husband and I live decently on $50k pre tax.  Adding in a kid, I’d say $65k to be livable.  It will never happen, short of winning the lottery.  I am a teacher’s aid, working on my masters to be a full teacher and get up to $50k.  I carry all the health insurance.  DH would also like to get his masters in education and teach but what he REALLY wants is to be able to be a full time pastor.  While churches generally pay insurance for full time pastors, it is no where near what I can get as part of my benefits package (I pay $100 a month for both of us with a 0 deductible HMO plan.  $44 for dental.  $10 vision.  Built in retirement plan.  Ah I love it).  The long story is that if we both are teaching with a masters AND he has the church, we will be in the $110k range which is ultimately more where we’d like to be in order to have the home (well, really land) we want, to have/adopt 3 children, and be able to afford things like the occasional vacation.

Post # 22
Member
984 posts
Busy bee
  • Wedding: June 2012

We’ve gotten our bills down to where (bare bones, no savings, extras, etc) we only need $1800/month to live, which we get from rental income. Would be sucky, but we could do it. We make in the 400+ range, just prefer to live frugally and not spend a lot. 

hubs really could care less if I work or not. I do for money, entertainment, and so my brain doesn’t melt. plus our kid is 11, so doesn’t really need a Stay-At-Home Mom.

  • This reply was modified 3 years, 8 months ago by  .
Post # 23
Member
4055 posts
Honey bee
  • Wedding: August 2012

Where we live isn’t expensive persay. ..it’s actually pretty cheap (esp compared to when we lived in the GTA)…but TBH,  I don’t want to give up traveling,  or nights out, or sports/after school activities for our kids, so we’d basically have to make what we make now minus the cost of daycare (so less about $15k/year) for it to be “worth it” to me..and even then I doubt I’d do it.

Post # 24
Member
862 posts
Busy bee
  • Wedding: May 2015

I quit my job to be a stay at home wife while I look for a part-time job (my hubby works the weekends and we were never seeing eachother). I was almost making as much as he was, but it is doable if you manage things. We waited until we had a large chunk of money saved in the bank. I sold my condo after we got married in which I made a great profit on. It also helps that we have very little in debt (I personally have zero student loans or other debt). We do, however, have to cut back on things. We only go out to eat once a week (if that), rarely go out to see movies, got rid of cable (just do Netflix/Hulu), etc. We take more advantage of free things (going hiking, etc.). I live in the Midwest where most people can get by with $40,000-$50,000 comfortably (think 3-4 bedroom home owners with a little bit of land and nice cars). We also live in a top rated town. Win/win for us!

Post # 25
Member
376 posts
Helper bee
  • Wedding: April 2018 - SLS Las Vegas

i would have to say 200k. I am moving to the east coast to be with my SO and it is way more expensive out there than where I live. Also I don’t want to give up traveling and all the sports racing I do. 

Post # 26
Member
1146 posts
Bumble bee
  • Wedding: June 2014

Quarter million minimum. Southern California. 

Post # 27
Member
356 posts
Helper bee
  • Wedding: September 2011 - Laurel Rock Farms, PA

So you never know what babies are going to cost, If you are interested in being a stay at home mommy I would highly suggest finding a company you cna do from home.  I have 2 boys (3 and 7 months) and it kills me to leave them every day while I go to work.  Also, considering I only make 1400 a month and babysitting cost $820 at least a month.  So I started working for a company that I can do from home or on the go and in just 3 months I am ready to quit my job and stay home 🙂  I love it and I can’t deal with the excitment of finally being a stay at home mommy 🙂

Post # 28
Member
3611 posts
Sugar bee

Manhattan, where we currently live – $250k minimum with no debt other than a mortgage.

Midwest, where we are hoping to move before having kids – maybe $175k minimum with no debt other than a mortgage.

I think emergency savings are just as important as annual income when you’re deciding whether to SAH. I would want at least one year’s living expenses in an emergency fund, and that means one year of comfortable living, not scraping to get by. I would also want to start a college savings fund for each of the three kids we plan on having before leaving the workforce.

Post # 29
Member
190 posts
Blushing bee

When we were living in rural PA I could have stayed home and lived a comfortable life (still going out occassionally etc) with my husbands salary of 40K a year. Now we live on Long Island and I think it would take at least 150K …

Post # 30
Member
1210 posts
Bumble bee

We live in a big city and I would say around 100-125k would be the minimum, assuming no debt other than your mortgage. 

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