ways to save to stay home with baby?

I am a teacher and due early spring with our first baby. I am definitly going to take the remainder of the school year and soooo want to take another full year. However looking at our bills, it seems like will have a lot of trouble paying everything for a year on one salary.

so.... to moms that took a lot of time off work after baby, any suggestion on how to cut back or hidden ways to make it on one salary. I want to do this sooo bad but dont want to be in a financial mess either. THANKS!

Re: ways to save to stay home with baby?

I have been off for 5 months and I had saved my tax refunds and my xmas bonus to stay home this long. It's been hard, but I've been creative with my finances and did work a few days here and there. I'm going back to work next week.

You won't be working so you aren't spending money on gas, lunches, work clothes, etc. You can Clip coupons, shop only when things are on sale.
Don't buy things you don't need. Scale back on luxuries such as cable with 12,000 channels (or whatever they have these days!). Shop around for cheaper car insurance, phone service, etc. If you typically get a large refund on your taxes, have your DH change his exemptions to get more money in your check instead of giving the govt. an interest free loan.

Re: ways to save to stay home with baby?

wow... some GREAT ideas... we definitly should change our deductions... I know we got way too much back last year. I actually cut out some extra packages on our cable bill last month when I was looking over some bills! Thanks!

Re: ways to save to stay home with baby?

My friend had a baby last Nov. and stayed home the rest of the year. She decided that she didn't want to go back this year and got a job watching 2 other kids. One is 2 and the other is in pre-school for a couple of hours a day. She is also able to bring her own daughter.

Re: ways to save to stay home with baby?

we changed our deductions, i tried to do as much OT as I could , and I asked for Gift cards from close friends and family for my shower,,, it helped in the diaper/BRU dept!!
i stopped working 2 months before i was due-- and my DH is in the Air force so money was tight...

Re: ways to save to stay home with baby?

I saved quite a lot while on maternity leave. I actually hardly spent any money. We use coupons and get specials at the store. We did not go out in restaurants. We do take some take-outs but not as often.

By not working, I also did not have any food temptation (vending machines, tea and meals at the cafeteria, etc..), I did not drive everyday and saved on gas, no clothes shopping, etc... I actually stayed home for 8 weeks and only went for walks outside with DS and the stroller. That's free exercise. I actually found out since I was PG that I could live on a lot less outfits than I ever thought was possible.

I bought ALL the clothes for DS at Target on the 30-50% rack. Nice stuff too. I bought them while PG. I did not buy too much and I am glad I did not. He is 9 weeks and already wearing 3 months and it won't last too long. For example, I saw a pair of pants in 9 months for 50% and know he will be able to wear it later. While PG, I asked people to buy me 6 months and older in clothing since I had found a few outfits, 1 piece PJs for NB-3 months.

By staying home, I did not go shopping at the Mall. Again the temptation!

I am just very frugal. I buy the essential and think twice before buying to make sure it is really necessary.

Message edited 8/27/2007 8:53:11 PM.

Re: ways to save to stay home with baby?

Most of my maternity clothing was hand me downs. I was really happy to get it and that really saved me a lot of money. I spent less than 300 on maternity wear including shoes and undergarments. We also banked my entire salary for 8 months. I am off for 4 months and then will be going back to work part time. Thankfully my parents and inlaws will be coming to help us. I use coupons all the time. I also sign up for web coupons - i.e. go to the website of companies whose products I use and then get coupons for things there.

Re: ways to save to stay home with baby?

I have had a complete life change.

First, we moved out of state.
Bfing is a huge savings to me.
I have roots right now...since no one really sees me, I am much more lower maintance then I was. I stretch things out longer.
I cancelled our cell phones and have a cheapo prepaid phone for our glove compartments...just for emergencies.
I just started selling old work clothes on ebay.
We hardly ever go out to eat.
I realized how little clothes my baby and I need. I will always have that one pair of jeans that I love...so why did I always need to buy so many more pairs? Same with baby, he grows out of stuff so quickly, I just buy a few things for him here and there.
While still working, I made car payments to myself and bought my car in cash.

I also wrote down all of our bills...I was surprised to see how much extra cash we have that kind of seems to disappear...now I keep that money accounted for.

good luck!

Re: ways to save to stay home with baby?

I stoped getting haircuts, and mani/pedi's as often if at all. I dye my hair at home for the time being...

I stoped buying so much clothes, not working helps me not need much anyway.

I scour the web for sites to help with coupons and money savings ideas...and they work

For ex....I got all of Noahs future food from the Gerber sale at Target for a total of like $10....

I use a LOT of coupons for almost all purchases and shop around big time.

I look for the cheapest gas around.

We lowered our cell phone plan since Im home, I dont need to use the phone as much as when I worked.

We use Netflix versus going to the movies.

Websites like mommysavers.com give me tons of ideas for saving money.

It takes some work but its very doable.

Re: ways to save to stay home with baby?

Thanks so much girls! I do cringe at the "no more buying nice clothes and shoes" but I know once the baby comes I wont even care about those things and I will be will to make these sacrifices.