Seven Reasons For Quitting Your Job After Having A Baby
Marriage is certainly a cheerful event, but it somehow affects your career path
. If you plan to have a kid, you will have to either spend money for their care, or give up your job to take care of them yourself. In either case, household income will certainly go down.
However, there are certain advantages of staying at home and taking care of your children. If you are planning to do so, but are worried about your financial loss, you need to consider the following points:
1. Save Money on Child Care
This is one of the biggest financial benefit you can have of staying at home and taking care of your children yourself. Instead of hiring someone, you can do things better, and save around $250 $300 every week.
2. Save Money on Taxes
If one of you quits your job and has no income, you obviously dont have to pay income tax. For instance, if you were making $30,000 each year, it puts you in 28% tax bracket with over $20,000. This means you will have to pay around $8,100 every year, which is around $156 each week.
3. Save Money on Food Expenses
When you are at work, you go out to eat with your co-workers more than often. Lets say you eat out around two times a week, and have $10 pop each time. It will cost you around $20 each week, that is $80 $100 ($100 if u eat something additional) every month.
4. Save Money on Automobile
If you commute by car every day to your workplace, you spend roughly one and half gallon each day, and you have to get oil changed every three months. Besides, you have to spend money on repairs and regular maintenance. These costs can sum up to around $5 every day, or $25 each week. By staying home and taking care of your children, you can save around $100 a month on automobile.
5. Save Money on Work Expense
There are several hidden expenses we incur while we are at work. I call them hidden because we dont really consider them as expenses. It just happens. We sometimes pay for coffee fund. Sometimes, we are expected to contribute money for a gift purchase. Although this may vary from person to person, I can say the average expenses are $10 every week.
6. Save Money on Habits
A smoker usually smokes more when he is at work. Similarly, we drink more coffee each morning and evening at our workplace. Staying at home can save you around $25 each week.
7. Save Money By Adopting Frugality
If you are at home, you will discover many ways to save money. However, this cannot be done if you are at your workplace. Besides, you can teach your kids to be frugal as well. The services that you paid for earlier, can then be done by you at home.
So, it really isnt a bad idea to quit your job and take care of your child at home. You save around $500 to $500 each week, which is around $24,000 each year. I guess the decision of staying home is a fair idea.
by: Le Hung
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