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If you’re lucky enough to have relatives living nearby who are happy to look after your little one, this is another factor to consider as it could reduce your annual childcare bill by thousands of pounds.
There are other things to consider in the stay-at-home-return-to-work debate. Jumping back into the workplace allows for career progression – you never know when a promotion or pay rise is around the corner – plus you’ll receive valuable pension contributions.
According to pensions provider PensionBee, a woman on a £30,000 salary who took four years off to stay at home would have almost £16,000 less in her pension by the time she was 68 due to a career break. For a mum earning £60,000, the difference in pension rises to £31,000.
What financial benefits for stay-at-home mothers? Depending on your salary and the cost of childcare in your area, it could be a smart choice to quit your job to raise your child.
You may also have more time. I’m not saying that taking care of a little person is any less time-consuming than having a full-time job, but you might be able to use some of the time when your little one is napping or watching cartoons to make cheap home-cooked meals or browse Vinted for a second. hand items.
Conversely, it can be harder to find great deals and save when you’re working and short on time (especially if your job doesn’t allow you to work from home).
If you want to go back to work, the good news is that there are a growing number of options, such as part-time work, short-week work, job-sharing or self-employment.
The decision doesn’t have to be forever, either.
When I returned to work after the birth of my first child, I considered reducing my working hours, but then I realized that a four-day week at the company meant that I would have to squeeze my full-time hours into four days – and pay 20 percent more. . No thanks.
So I worked full-time, driving to work every day and juggling daycare drop-offs and pick-ups with my husband.
A few years later, I quit my job and became a freelancer. This reduced the stress of running around nursery school and school and allowed me to spend more time with my children.
Yes, there is no job security or employer pension contributions, but I am much happier and it currently works for me and my family.
Now read: Free childcare: Who is entitled to it and when does it start?
Have you decided to stay at home? We want to hear from you: email money@telegraph.co.uk and tell us your story
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MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE