Calling it Quits? 5 Things to Consider Before Leaving your Job

Calling it Quits? 5 Things to Consider Before Leaving your Job

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Financial planning after a baby is essential. This is especially important if you decide to take a sabbatical. Sitting with your partner and charting a financial course will help you navigate the way ahead. However, when making that decision, ensure that you have a well-thought-out plan in place.



Being a stay-at-home mom is never an easy decision to make. Hanging up your formal blazer and stilettos for sweatshirts and jeans can be quite daunting. Ensure that you have a solid financial backing before you make the decision to quit your job. Here are some things you can consider before you take the leap:

Things to Think about when Deciding to Quit Your Job

1. Keep a tab

You need to be sure that you have enough in the bank before you decide to sit at home after giving birth. Also, you will need to cut corners to avoid overspending. Maintain a diary of things you buy during the month. When you do that, you’ll be surprised at the useless expenses you can cut back on. Since most families spend most on food items, you need to reel your expenses in. Don’t encourage your kids if they pester for cookies and candy every day.




2. Budget expenses

Before you quit your job start budgeting. Sit with your partner and discuss how both salaries can be used effectively. Get accustomed to a budget months before you put down your papers. Therefore, when you actually start sitting at home, you’ll have months of preparation. While food, rent, and school expenses of your kids are unavoidable, try and get rid of the luxury expenses. Do you really need an expensive gym membership? Can you switch to a cheaper Internet plan? These questions need to be asked. However, don’t try and live like misers. A little outing with the family is necessary once in a while.

Budget expenses3. Emergency money

How to decide to quit your job? Have an emergency savings account ready. It’s always good to have some money stashed away for a rainy day – a medical crisis or other unplanned exigencies. Before quitting your job, ensure you have enough saved up to meet unforeseen expenses. When you and hubby decide on the amount to keep aside, enforce it.





4. ‘No’ to credit cards

If you have a few credit cards in your bag, you may want to get rid of them soon. Plastic money could land you in a pool of debt that could keep you drowning. If you have premiums to pay back, do it immediately. Don’t let plastic money get the better of you, especially when you’re unemployed or looking for a job.

5. Backup job

Your family cannot really live in the fear of overspending. Give yourself some time before you decide on taking up a stay-at-home job. Freelance writing or data entry work can be something that could make you a lot of money. This will also ensure a steady source of income.




These thoughts to ponder on will help you decide how to afford to be a stay-at-home mom. Make sure your partner is consulted before you take this step. He would not want any surprises. Only after you weigh the pros and cons should you make a final decision.