Working at Home to Stay at Home

Job Options to Help You Be at Home With Your Child

If you want to stay at home with your child, you may be wondering what you can do to afford it. You may be especially frustrated if you just can’t seem to get the numbers to work with your budget. You may be willing to make some financial sacrifices, but you should be careful that you don’t stay at home and find yourself going deeper into debt each month. Through careful choices and sacrifices, many households find that they can afford to have one parent stay at home. Working from home means that you do not need to walk away from your job, but will give you the option to be with your children. You may also be in a situation where you can't afford to work and pay the cost of childcare. If this is the case working from home may be your best option. You should also consider retirement planning as a stay-at-home parent. These options may also help you find more financial independence,

Working at Home: Telecommuting

What Are Some Work at Home Options?
Morsa Images/DigitalVision/Getty Images

Many employers are more open to telecommuting than they were a few years ago. You should approach your employer and see if this is a viable option for you. You may have to compromise and work from home two or three days a week and go into the office on the other days. This could eventually work into more days at home, and fewer days at work. If you do this, you need to make sure that the quality of your work does not decline, and that you continue to produce as much as you used to. You should also make yourself available to talk to your boss at certain times of the day. If you do this option, you may still need to hire help so that you can get work done. If your job requires a quiet work environment (if you are on the phone or in conference calls), you may need someone to care for your children during that time. 

Working at Home: Freelance Work

You may consider picking up freelance work to make up the amount from your lost income. There are a lot of different areas to freelance from accounting to writing to programming. You may begin to pick up clients or make contacts at your job or through people you know. You may want to build up a steady stream of clients before you quit your job because it can take a few months to get established. Freelance work will not give you any health benefits or retirement so you need to plan for that. Remember that it is important to diversify since clients can dry up unexpectedly, and you will not want to take a major income hit from one client. 

Working at Home: Owning Your Own Business

You may decide that opening your own business is one way that you can make money and be at home with your children. You may decide to run an online boutique or eBay store. You may decide to babysit from your home or tutor. You may decide to give piano lessons or sell items for Avon, Mary Kay or Pampered Chef. All of these options will work if you are willing to put the time and energy into marketing yourself and your store. You should enjoy what you are doing because that makes it easier to do. Owning your own business will keep you busy, but you should be able to manage your time the way you want to, especially if you choose a flexible business. 

Working an Opposite Shift

You may be able to stay home or keep your child from daycare if you work opposite shifts from your spouse. You may switch to the night shift at your current job, or look for an evening job that will allow you to make enough money to cover your budget shortfalls. Waiting tables is an option. You may also consider working at a hospital. There are many people who work nights so they can be with their children during the day. If you are a nurse or work in the medical profession, you may be able to work weekends only and still earn a full-time income. 

Consider Part-Time Work

Another option is to consider taking a part-time job that allows you to be at home for part of the week. If you do this, you may need to find a place that will charge you by the day for childcare instead of requiring you to pay for a weekly spot. If you split a shift with someone, you may be able to swap childcare too. This can help you save money while benefiting from working. The key is to keep looking until you find a situation that will work for your family. 

Tax Considerations

As you make the decision to be a theme, it is important tot ale into consideration how it will affect your taxes. You can claim any money that you pay for childcare on your taxes, but if you are at home with your child you will lose that benefit. If you are working as a freelancer, you will need to set aside money to pay your quarterly taxes. You may want to talk to an accountant to learn how to do this properly.