Hi J., I hope that some of the other advice given to you was able to help but if not there are other options out there that you can explore as well.
I am a stay at home enlisted military mom of 2, so when it comes to pinching pennies I know a thing or two lol. I pinch pennies everywhere I can. And also add to our income by selling different things online via a website, ebay and half.com.
First I highly suggest looking at your current budget, keep track of all the places that you spend money for at least one month. After you have a very clear idea of where your money is going every month, you will be able to look and see what areas you can cut back on. for example, we noticed that my husband was spending about $200 a month eating lunch out every day. And the expense of my working with his was costing us an $1800 a month. I was only making $2200, so in actuality I was only adding about $400 a month to our income, we determined that that $400 I was bringing to the table we tended to use to order dinner out more frequently than we should have been doing, and our dinners out were costing us $500 a month. I was too tired to enjoy cooking So my working outside the house really cost us $100 more a month than I was contributing to our household. That said I think it is easy to see that we were actually loosing money when I had a job! I HIGHLY SUGGEST sitting down and looking at what it actually costs you to work then taking what you bring home 'free and clear' from your job after employment expenses, and see if you can find a way to match that money from home. Unless your very high paid, I honestly believe that you will be able to match your actual take home income from home.
Be sure to include the following things when you work out what the expense of working actually is:
cost of gas:
cost of childcare:
cost of lunches while at work:
coffee or tea bought while at work:
Cost of attire for work:
cost of meals bought out cause to tired to cook:
any additional business costs that you pocket that might not be reimbursed (cell phone, pager, etc):
Cost of your insurance with your vehilce rated for to and from work (its a lower rate on your vehicle if it is pleasure only):
The cost of convenience foods bought to save time instead of cooking 'homemade': (hamburger helper is not homemade)
Cost of bus or cab fare:
Vehicle maintence:
Insurance premiums paid (if paid from your employment it might not be something you want to give up, if paid from both, it might be more efficent cost wise to have it all through his employer):
Also consider the tax bracket that 2 incomes places you in, there are many tax benefits available for families that don't make a ton of money. Just remember that every bit helps and is vital in factoring in wether or not you can afford to stay home. :)
After you have an accurate account of the money you spend each month in your budget, and an accurate account of the actual cost for you to work, you will have a better idea of exactly what it will take for you to be able to stay home on a regular basis. There is a chance that it won't take anything additional income wise, but if that is not the case, you may want to consider some of the options listed here
This didn't help the fact that I still felt like I needed to contribute to our family financially, as I wanted us to be more comfortable with me staying home than we were when I was working. When you know how many pennies you need to pinch you can then decide the areas that you need to cut back on. We made the decision to eliminate cable TV from our budget, and I pack a lunch for my husband ot take to work. Just cutting out those two expenses saves us nearly $250 a month (as its only $50 for me to make him a lunch if I send sandwiches or even less if he's willing to take left overs from the night before)
We also were able to cut down on the eating out (only do it 2 times a month now as a family and once a month as a couple). I menu plan and then make a list for the grocery store and shop once per week, this ensures that I buy exactly what we need for the meals I will be preparing, keeps me from impulse shopping, and also helps to ensure that we don't waste food, by allowing it to stay around so long that it goes bad, I also cut out buying convenience foods (like frozen pizzas, burritos, corndogs, etc...). This cut our grocery bill by about $200 a month.
So by evaluating where we spend our money, and making small changes to our lifestyle (which were actually better than what we were doing!) we were able to save $450 a month off what we were doing with two full time incomes. And with the $400 to $600 I bring in additional to our household, we are able to save money as well to do things we really want to do.
I hope that this helps you (and other moms out there looking for ways to stay home)