RachaelRachael Rachael, a mom of two daughters, is a freelance editor and writer who enjoys gardening and dreams of keeping chickens in her suburban St. Louis backyard. In her spare time, she helps to edit her husband’s science fiction books. Read more of Rachael's work at www.rachaelsjohnston.com or contact her by emailing rachael@mumblingmommy.com.

More moms are opting to leave their jobs in favor of staying home with their children. The reason is not simply so they can witness the first smiles, steps, and words. It’s finances. Child care is expensive, and many lower- and middle-income families see no real monetary gains after forking over money for child care. It’s becoming more common to hear moms say they can’t afford to work.

It certainly is the case for our family. Child care costs would easily have eaten up half of my income as a journalist, and now that we have two young children, we might spend more on child care than I would earn in a year.

One mother quoted in the article link above earned $48,000 a year as a teacher but would have made $18,000 after taxes, health insurance, retirement, and child care costs were factored into her salary. “It wasn’t worth $18,000 for us to let somebody else raise our son,” she said.

How about you moms out there? Does it make more financial sense to quit your job and stay home with your children or do you need that second income?

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Category: Family Finances

Tags: budget