Can I be a stay at home mom with my Hubbys 50k a year salary?

Question

I get married in 5 weeks but after that we plan on children within 3 years. I will work till then but My family says that with my husbands career, that there is no way I could afford to stay at home? Advice?

Answer 1

Yes, it is possible. Some families live with a yearly salary way below that, and they get by just fine. Just be sure not to spend a bunch of your money on a 50" TV, Nintendo Wii, expensive laptop, etc.!

Answer 2

It all depends on your financial situation. The majority of people's money goes towards mortgages/rent and debt. If both are very small and you don't live beyond your means, I don't see why you couldn't survive on one income.

Answer 3

it all depends on your expenses. my husband is just starting a great job, we have no money saved, and i'm still able to be a stay at home mom. i love it.

Answer 4

What city/state do you live in?  In most of the US, it is very possible to live off of $50k/yr.  Do you guys have a mortgage?  It really depends on how comfortable you are with giving up things like eating out, luxuries like cable and internet, expensive clothes, etc.  

I've been home for almost 2 years now, and believe me, my new full time job is figuring out ways to save money!  You have to clip coupons, buy things on sale, not pay too much attention to brand name items, and think of innovative ways to cut corners.  Shop around for cheaper car insurance, maybe refinance your mortgage, restructure your car loans.  We don't take vacations and my husband doesn't get many days off.  It may be possible to live off of $50k, but it is not easy!

But let me tell you...  The reward of being able to stay home with your kids is SO worth the sacrifice!  Good luck!

Answer 5

The best way to be a stay at home mom at that time is to make  sure you have gotten everything in line. If buying a home and one or more vehicles you will need to make regular payments on everything and try to make double payments on these if at all possible. Pay off all small bills, do not use any credit cards! That is such a big NO NO in my book. After three years of this all of your payments should be lower. If vehicles, they should be paid off by then and all you will have is you house and utilities. As long as you are willing to spend wisely and cut corners and possibly coupons. YOU WILL MAKE IT!

Answer 6

Hi,

I'm sure you can, it just depends on your level of commitment!  When we got married, we planned for me to stay home when we had kids, (which we thought would be about 5 years away) so from the very beginning we budgeted on his salary and put any income that I brought home into savings so that we didn't become dependent on it.  We lived in MD on 29000 so 50000 sounds like a lot to me!  It does depend on living expenses in the area and your mortgage but your level of commitment and the priorities that you have are really what matter - you can live on very little if mothering your kids is where your heart is!  CONGRATULATIONS!

Answer 7

I am sure you can.  My husband makes 43k a year and we do ok.  Sometimes it is tight, but we get by ok.   I have 3 kids and they never go hungry or without what they need and sometimes want.  So I do think that yall will be ok.

Answer 8

The key to this is to live within a 50,000 dollar budget.   That is all you have to do, it will be tough and you and your family will have to go without a lot of times, but its possible.

Answer 9

I stayed home on a lot less, starting about 10 years ago. We felt it was best for me to be available for our sons when their father went into the ministry full-time, since he is on-call 24/7 basically. We've had to do without a lot of things, but they were mere wants, not needs. My sons have learned to be savvy shoppers like their Mom!

Answer 10

Yes you can do it!!!  Don't listen to anyone who says differently.

You are in a great position, you know what you want to do and have time to plan for it.

First of all, live on a budget NOW (and when you become a SAHM).  Buy a house that you can afford to live in on one income, not two.  Don't use credit cards and sock away money into savings...baby's cost money!  It can be done.  My hubby & I were married for 8 yrs before we had a baby.  Hindsight and all, we should have saved a heck of a lot more than we did, as we both made over 50K, but in the year before she was born we really focused on saving and put away several grand.  I must say we went through it mighty quickly (not all on baby, some home repairs) and we live on a very very tight budget...not an inch of wiggle room, but it is doable.  My hubby will work OT to earn more to help.  I haven't had to get a PT job yet, and the baby is 10 mos old.

I do get a little misty when I go shopping and think about all the items I used to just buy without a thought...how I never had to check the balances, etc. but nothing, and I mean NOTHING, is worth it to me to leave my baby in the care of another.  She is so big now, and I have seen every milestone.  If I had to work to put food on the table, lights, heat, etc. I would no questions asked.  But not to get a new car or shoes, or a bigger house, not worth it to me.  

IT is amazing what you can do when properly motivated.

Best wishes, and start living frugally now!!

Answer 11

It is completely your duty, I am heartwarmed by your devotion to your home.

Answer 12

STAY HOME WITH  YOUR CHILDREN, LEARN TO CUT CORNERS AND SAVE MONEY NOW FOR THE FUTURE. KEEP YOUR CURRENT CAR FOR 10 + YEARS WILL HELP. THE TIME YOUSPEND WITH YOUR CHILDREN IS MORE OF AN INVESTMENT AND MORE REWARDING THAN WORKING TO HAVE MORE THINGS THAT YOU WILL EVENTUALLY DISCARD. THE CHILDREN WILL BE AROUND FOREVER, ENJOY THEM WHILE THEY ARE YOUNG TIME GOES FAST. GOD WILLING , I HOPE YOU HAVE NUMEROUS CHILDREN THAT YOU TAKE CARE OF NOT A STRANGER.

Answer 13

I would say it's entirely possible if you're willing to plan and sacrifice.  I've been a stay at home mom since having my 1st baby (over 13 years ago) and I think we manage fine.  I think it has to do with priorities and living within your means.  Don't worry about having the biggest house, the newest car or extravagant vacations.  My kids don't go without, but at the same time, they absolutely do not get everything they want (which is everything).

Answer 14

Congrats on your upcoming marriage!

Whether you'll be able to stay at home with your children will depend on what your expenses are.  50k sounds like a lot, but remember you'll have housing costs, utilities, food costs, cars, gasoline, insurance, medical care (pregnancies and children's regular check-ups,) diapers, clothing, toys, vacations, savings for children's college, retirement accounts, and emergencies, to say the least.  

If your total expenses are adequately covered by your future husband's income, in spite of rising food, gasoline, and housing costs, you can stay at home to nurture the little ones.

Take care, and God bless!

Answer 15

Heed your parents advice.  Your parents know for a fact what your likes and dislikes are. Your parents know how you spend and where you've spent it.  THey know your spending habits.  Habits are hard to change.

When you throw a marriage, rent/mortgage, college loan, cars, eating out, vacation and a child or children in the mix with the way the economy is going, it would be A SAFE BET for you to KEEP YOUR JOB.  

Otherwise, live with your folks or his folks(I would advise against this one though).

Answer 16

Depending on where you live, and how lavishly. Yes thats more than reasonable. We live in an affordable small town, and have 2 kids expecting our 3rd and last. We live nicely on my husbands 700-800/week income. So thats a bit under 50k/yr. We moved from Vegas, to Tn so that we could afford to have me home. If we didn't move, and had the same bills I'd have to be at least pulling a p/t job. It's highly dependant on where you live/cost of living there.

It is doable on that wage, if you have good financial skills.

Answer 17

This is not a question for Yahoo Answers.

This is something you need to discuss with your hubby, and decide between the two of you.

It is definitely doable . . . but only you and hubby can decide if you two will be happy with a 50k budget.