So, you have decided to leave your job…and the reason is you have a 1-year-old baby to take care of. Plus, you have heard about the benefits of being a stay-at-home-mom. You will now have ample time for yourself, for your baby and family, you will reduce your expenses, you will explore new things, you will follow your passion and many more. So you have enough reasons of being a stay-at-home mom with a newborn or young child. But, the harsh reality is that not all is so good as it seems to be. There are some negative consequences to consider as well, the most important being the financial consequences.
So, when you plan to become a stay-at-home mom, ask yourself these questions and consider the results. Think twice before making the decision.
Can you stay without earning a pie?
All these years, you were earning and when you want to leave your job and decide to stay at home, you should be aware that you will need money. So, who is going to provide this to you every month? Your husband? Are you sure he is going to afford you and the baby as he is now the single earning member of the family? Do you have enough savings? You will have savings with you. But, spending your savings will not be a good idea, unless and until there is an emergency. When there are two earning members in the family, there is always a secured income. The entire financial burden will now be on your husband. You can be a stay-at-home one only when your husband is rich enough to bear all expenses, including yours and other expenses like car loan, home loan, vacations etc. etc. The big question is how long? So, think twice before becoming a stay-at-home-mom.
Can you take the risk of being financially vulnerable all the time?
Now, that you have decided to stay at home, you are no longer financially independent. You have to depend on your husband all the time. You will be always financially vulnerable. For each and everything, you have to ask your husband. There will be limited amount of money in your hand. What if your husband asks you to give a daily report of your expenses? Will you be able to face such a situation on a regular basis? Will you enjoy this status of being so financially weak?
Are you prepared to face the un-forseen?
What if the unthinkable happens? What if your husband leaves you, what if your husband dies, what if you husband becomes disabled? It’s not so easy to think about it and it’s something many of us won’t face either. But, what if? If you leave your husband and you are not earning, then your financial needs become your priority. Life is unpredictable. And you have to be financially, physically and mentally prepared should any one of these happen. When you actually face these practical problems, it’s a major financial problem. Do you have any financial plan to take care of these issues?
What about your career graph?
How long do you want to be a stay-at-home mom? Full time or till the time your child grows up? What about the years of not being in professional world? Are you prepared to face the dip in the graph? Let’s face the facts. You are losing your appeal to potential employers. Your work skills become outdated if you do not keep pace in this fast-paced technological world. So, when you decide to join back, would you be able to start from where you left of or would you be required to start all over again? A big question …
Can you join back again?
You have decided to go back to work after being a stay-at-home mom for few years. Now, when you join back, you have to compete with younger people than you with fresh industry knowledge and skills. Are you prepared for it?
What do you do?
There is no denying that fact nobody can undermine the value of a housewife. But, many a times, a professional woman who become a stay-at-home-mom suffers a major emotional set back and lose her confidence as well. Especially at family parties, society gatherings, parent-teachers meet, when someone ask, “what do you do?”, this becomes the most dreaded question in your life. You will say, “I am a housewife!” but if this question touches on your identity and ambition, then you really need to think twice before becoming a stay-at-home-mom.
The “what-ifs” of being a stay-at-home-mom are difficult to face. Leaving your career to stay at home is indeed a big decision and should not be taken lightly. If at all you decide to become a stay at home, make yourself financially independent by taking up work-from-home opportunities, by learning new skills to keep yourself up-to-date or take up some side business so that you earn and remain confident of yourself.
For all stay-at-home-moms, be a part of GharSeNaukri.com, India’s largest career and community platform only for women. Don’t just remain as a stay-at-home-mom. Rather, work from home and become a stay-at-home-working-mom.