Income Options for Parents

Posted by mamas

Posted: April 27, 2008 - 9:01 pm

After the birth of a baby, comes the big decision of whether you should return to work. Economic conditions generally dictate how much income a family needs, thus raising some crucial considerations. Such as whether a parent should work outside of the home, work home-based, or not work at all. Many mothers feel like they do not have a choice, except to return to work after the birth of their baby. However, others have the opinion that after they pay the extravagant costs of full-time child care, they will not be bringing home enough income to validate the expense.

It’s an undeniable fact that two incomes are usually necessary in most households. However, moms and dads are seeking alternatives to traditional work situations and getting creative with how they manage their homes, children, and finances. To avoid paying for childcare, many parents are finding ways to stagger their work shifts, so that, one parent is always with the children. They still reap the benefits of two incomes, their children enjoy always being with a parent, and they don’t pay for child care. The downside is that spouses may not see each other often and the family may rarely be all together at once, but many people view these as temporary disadvantages.

Another solution is to have one parent quit his or her job outside the home and start their own in-home business. Although, it can be time consuming to find the right kind of home-based work, and to avoid scam operations, this can be a successful financial plan. There are many resources on the market that list hundreds of jobs that can be performed from home and the old adage, “Where there is a will, there is a way,” rings true. Many parents tap into the World Wide Web as a conduit for cash, while others start brick and mortar businesses using the skills that they already possess.

Whatever job you choose to do, your rate of success is usually highest when you are pursuing something that you are passionate about. When you are fulfilling an internal desire or accomplishing work that you can take pride in, you will ultimately find success. Needless to say, this method takes a self-motivated person who will meet the learning curve head on and not give up.

Personally, I have experienced both ends of the spectrum. To be sure, there were benefits to returning to work outside the home. For instance, I had time to occasionally drink a hot cup of tea and to focus on matters outside the home. It was also good to be in the professional environment that starkly contrasts with the routine of infant care in the home. The problem that I encountered was that it began to feel like I was on a hamster wheel. I was spending so much time dropping my son off and picking him up, I worried that I was losing the connection with him that I desired to have. Eventually, I realized that perhaps it was time to try a different approach to acquiring income.

Working from home was a transition that took some time and adjustment for our whole family. There are, of course, challenges; but overall I have found it to be very rewarding. I love that my spouse and I are the primary caregivers in our child’s small world. I also enjoy the fact that I can still accomplish goals and have professional interactions, while not having to sacrifice time with my family. With determination and a strong team effort, we have found that working from home has been a positive solution for our family.

Whatever plan you settle on, make sure that it is right for you and your children. I have seen just about every model of work situations displayed successfully in families. There are stay-at-home dads and moms. There are parents who work just three or four days a week, so that they will have more time with their children. Some parents utilize on-site childcare at their work facility, and they can check on their infant throughout the course of the day. Often, one parent will simply not work for several years while their children are young, then they will jump back into the career field later in life. Not only is every financial situation different, but the needs of each child are unique as well. When processing these options for your family, be sure to approach the situation from every angle and settle on what truly will work for you.

What has been your financial solution while raising children? If pregnant, do you plan to return to work?

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