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Many mothers long for the day when they can let go of their jobs to stay at home with their kids, but the fear of transitioning from two incomes to one keeps them trapped in a web of anxiety. It may not be possible for all families to take this step immediately but the following will help everyone evaluate the questions that need to be asked before making this important decision.

The first step is to make a list of all your current expenses. During this exercise you will notice that some expenses such as child care may be eliminated altogether, while others such as eating out or fuel can be cut down considerably.

Separate the list of expenses you just made into two draft budgets. In the first you can quote your current financial position, using the two incomes and the expenses as they now stand. In the second, remove the income that would be lost and include the new projected expenses.

If your projected budget produces a positive balance, leaving room to put aside some money for savings you have just found a way to stay at home with your children. If not do not despair, read on.

Consider your list of expenses carefully. Look for ways that you can cut down on your money spent. Telephone and cable bills are a good place to start. Trim all the non-essentials from your budget, but please be realistic, because while it may be easy to draw a line through the word entertainment on the paper, it may not be quite as easy to deny yourself or your family the weekly dinner out at your favorite restaurant.

Give your revised budget a test run. Instead of waiting until you actually leave your job to test your theoretical budget, give it a dry-run now. Pretend that your second income doesn't exist and actually live according to the new budget. This will not only boost your confidence in making this life altering move, it will give a big jump to your savings account as well.

If your projected budget is still in the red you may have to save towards paying down some debt before making the transition. For instance, maybe you currently have two car payments, and by saving to eliminate the smaller debt obligation you can get rid of one more monthly payment.

Another option may be to consider coming up with ways to make money from home. Maybe you have some skill that can earn you money while staying at home with the kids. There may even be a way to use the skills you developed in your current job to earn you income from home. Of course this is highly individual so you would have to evaluate this with your own situation in mind.

While the major concern in moving from a two income family to a one income family is monetary, the benefit of staying at home cannot be measured in dollars and cents. Take your time with your decision and if it turns out that you cannot afford to do it immediately yet you feel that this move will greatly improve your quality of life, don't give up, and instead make a plan of action to achieve your goal.

Learn more about this author, Natalia Jones.
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