Hi J.,
I sympathize with you and I admire your passion for wanting to be at home with your baby. I am passionate about moms staying at home with their children.
Before starting a work from home job though, take a good look at your budget. Cut back on EVERYTHING!! Babies don't really need much more than the tender love and care of their mothers. I say this, because working from home still takes your time and attention away from your baby, unless you work at night when your husband is at home or vice versa. If you make enough money, you could hire a nanny to be in your home while you work, but then the nanny is doing most of the childcare, not you.
My advise would be to try to not work at all. Your child will benefit tremendously from your time and attention, but most of all the love that you can give him or her. No one, childcare, nanny, daycare, etc., will love and care for your child the way you will. They won't be proud or ammused when he rolls over for the first time, or when he takes his first step, or says Mama......the list obvously goes on and on.
If you are breastfeeding, imagine the money you save on formula. Cut out fast food and entertainment. Find things at home that you enjoy. Cut out cable if you must and extra's on your phone that you don't need. Do you really need a cell phone? Have a garage sale and get rid of things that you don't need. Basically, do whatever you can to be at home with you baby and make it more financially comfortable.
I've seen calculators on the net that tell you how much you are really making when you work outside the home and pay for childcare. In many cases, you aren't actually bringing home much. Your clothing bill is smaller, you don't pay for lunches outside the home. No employee parties, baby gifts, departing gifts, etc. I assume you are married.
TAlk to your husband about your desires and talk about the direction of your family in the next 5 year if you don't plan to have children and the next 10 years if you want more soon.
I have 4 children. I quit a well paying job to stay at home 10 years ago and I have not regretted it one bit. I cut back on spending, which was a HUGE deal for me, the former credit card queen. I've tried from time to time to work from home. It can work, but you have to be very clever and make sure it doesnt' take time from your child.
I wish you the best. Please update us on what you decide. I'm pulling for you. You can e-mail me privately if you like. I want to see this happen for you because I've been there and I am so happy with my choice.
Warmly,
Michelle