As my regular readers know, I’ve been a full-time stay-at-home mom since 2005. That’s 14 years of living on a single income!
To be honest, if I’d known about FIRE back then, I’m not entirely sure if we’d make the same decision again. After all—this choice has undoubtedly impacted our finances and journey to FI.
BUT I also can’t deny that the lifestyle benefits of a full-time at-home parent have been significant. We’re happier, healthier, and less stressed because of this lifestyle choice.
For us, it’s been worth the cost for me to stay home full-time with our kids.
The true cost of a stay-at-home parent
I’m pretty militant about tracking our money these days (gotta love YNAB for this!) So why have I never calculated how much it’s cost for me to be a stay-at-home mom?
The simple truth is: I was just too lazy! Having to find the numbers and do the math was too daunting of a task. It wasn’t hard to push this task aside, year after year.
Well, that all changed when fellow Vancouver blogger Bob Lai invited me to write a guest post…
I first discovered Bob and his blog, Tawcan.com, when I noticed his avatar in the comments section of many of my favourite FIRE blogs. I wondered, “Who is this Tawcan guy?” then clicked on his name, and was taken to his blog.
I was so excited to find that Bob’s family was in a similar life situation as ours. Not only did they live in the Vancouver area, but they were also working towards FI on a single income!
And if you didn’t already know, Bob’s quite an accomplished blogger. He started Tawcan in 2014, has published over 400 posts, and is one of Canada’s most well-known personal finance bloggers.
Naturally, I was flattered and thrilled when Bob offered me a guest posting spot.
The story behind the post
I’d originally envisioned an article that listed the benefits of a full-time stay-at-home parent. But Bob had bigger, better ideas in mind.
Being the veteran blogger that he is, Bob knows that readers like numbers and charts. So he suggested that I add them to my post. To be honest, that freaked me out!
While I’m decent at math, it’s definitely not a strength of mine. I’m terrified of making a mistake and being called out on it! Because of this, I tend to shy away from numbers-heavy content on my blog.
As it turned out, I had nothing to fear. The math wasn’t difficult, and the ‘charts’ were simply tables, which are very easy to create. Bob was also a patient, helpful mentor. As I worked on the article, he pointed out areas that needed more detail and suggested edits to make things clearer.
With Bob’s input, my post was transformed from ‘okay’ to something I’m really proud of (and that I hope will become a valuable resource to others).
You can check it out here: How Much Does It Cost to Be a Stay-at-Home Parent?
Working on this post with Bob was an invaluable learning experience for me. By accepting his challenge and including numbers and charts in my post, I feel so much more confident as a blogger. Thanks, Bob!
Who this post is for
Whether your family is single or dual-income, on a part-time or full-time schedule, or have one child or more—this post will be of interest to you!
At 6,500 words, this post goes in-depth! We’ve covered all the bases, including:
- The financial benefits.
- The lifestyle benefits.
- The opportunity costs.
- The final cost of a stay-at-home parent.
- Bonus: Part-time work—the ideal scenario?
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