There is no one-size fits all approach to this issue or else, I believe, more people would stay at home with their kids. The easy answer would be to have a spouse that makes plenty of money, but our society isn’t setup like that anymore for most people.
We had a nice financial setup before having kids. We both worked non-profit jobs, so we weren’t filthy rich, but we (looking back on it) had few expenses. When Olivia was born, Vanessa was making a few thousand more than I was making and Vanessa was going to stay at home. Instantly we took a 50%+ paycut. Read More