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Do you dream of quitting your day job to stay home with your family? Well, turn that dream into reality with a little financial planning! This is the foundation you will build your life upon, so you must take ample time to plan accordingly and consider every option and worse case scenario. You must assess your current living situation and what luxuries you are willing to give up if or when you need to.

The first thing we need to address is the true reality of the situation. If you dream that staying home and eating bon-bons and watching soaps is the life of the homemaker, then you are sadly mistaken. If you think it will be ANY kind of a vacation you are again - mistaken. As a full time homemaker myself, I must warn you that this is the hardest job you will EVER HAVE. And it is a job that lasts 24 hours a day seven days a week with no pay and no sick days. In fact on your sick days you can count on other people being not only sick, but always sicker than you somehow. Being a full time homemaker is the most fulfilling job I could ever dream of, the best job I have ever had,...yet at the same time I have never felt so unappreciated in all my life! I do not mean to discourage, but I just want to make the point that his is no job for the weak, that is for sure.

The first part of your financial planning is to decide if your spouse makes enough money to support the family on their income alone living and spending the way you do right now. If you do, then great! You can quit tomorrow! Chances are you fall into the group I was in. Living on two incomes and living paycheck to paycheck! What you need to do is first save all your receipts for a few months and start a budget. See whats coming in and whats going out. Divide that spending into needs and wants. You need electricity you only want cable and Internet. You need a phone but not caller ID. Decide what wants you are willing to sacrifice to make your dream a reality. What are the pros and cons of staying home. Pro is you will be there for games, homework, etc,...cons might be smaller clothing allowances for kids,.....pros are mom is around to clean rooms, cons, don't get allowance for cleaning rooms now. What does every member of the family think about this new plan? How can each person benefit from it? It is important that everyone gets on the same page so that there is not any resentment. When I left corporate America to stay home we planned at least 6 months in advance and started making those financial adjustments

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