Clothing: At the office, chances are you have at least an unofficial dress code. Whether you wear suits and heels or jeans and a nice blouse depends on your job, but you have to look professional and presentable no matter where you work. Working at home means you can wear whatever you want: pajamas, workout clothes, jeans and T-shirt, a ball gown? you won't be interacting with the public as much, so your wardrobe needn't be as expansive. While you're not going to live in the same outfit every day, more casual at-home attire is cheaper than business clothes. (Three pairs of pantyhose a week can cost almost $500 a year!) Depending on how much you shop, what you have to wear to work, and which brands you prefer, you can save hundreds of dollars a year on clothing, not to mention dry cleaning (up to $1,500 a year). Now that I am staying at home, I buy far fewer clothes and shoes for myself. I am no longer tempted by the fancy stores that I would walk by every day, and I am not nearly as worried about having a polished appearance for a 2-year-old. Miscellaneous Expenses: Chipping in $20 for a retirement gift for Sue in accounting. Donating $5 for a co-worker's son's fundraiser. Shelling out $40 for dues to a professional organization. Spending $10 on a happy-hour martini. All those expenses add up. While those non-essential work events are part of what makes work fun, they can also be expensive. Depending on the office, you can save hundreds of dollars a year. Now that you have all the components of your equation, it's time to do the math. Add up all the income lost and subtract it from the expenses gained. This is the amount of income you will be losing to stay at home. Now it's up to you to decide whether the value of this actual dollar amount is greater or less than the value of you raising your child(ren) full time. It's a difficult decision to make, but at least the numbers can help make a few things clear. If you still really want to stay home, but the numbers just don't add up, don't give up. Talk to the human-resources department at your company or your supervisor. Find out whether your company can give you a flexible work schedule, job share opportunities, or part-time employment. Companies are becoming more responsive to families' needs, so don't be afraid to ask, even if it's not outlined in your company handbook. Continued › |
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