My husband earns $3k. I earn $2.4k but due to unfortunate circumstances, I'll be resigning to take care of my newborn full-time. Worried about our survival. Advice please.?

Hi there. In this case, you need to make balance between income and outcome. Based on your finanical situation, be smart and careful to make purchase for saving. Instalment is also a good choice, pay later for more purchases to make spaces for other expenses. Hope everything goes well!

Congratulations to you... What a joyous event!!!

Leaving your career to care for your child is a high calling and it cannot be compared to any jobs.

My wife and I had numerous discussion on this before we decided to take the plunge too. We asked ourselves these questions... hope it helps u too.

1. What are the reason(s) to leave your career to care for your child?

• if your main reason is to take on this responsibility and not "outsource" parenting to childcare or grandparents, then plan your entire family activities (expenses) around it...

My wife stopped work for 1.5 years when we had no. 1 before heading back to work again, but now completely stopped with my no.2

Example:

• cook at home vs dine out

• weekend treats @ cafes to cut down

• source for hand-me-down clothes / stuff instead of buying new ones (i realised hand-me-down are much better, all my newborn stuff including rocker and cot are hand-me-down)

2. Needs

• To be honest, the true struggle isn't about MONEY. We survived with our second child in June w/o confinement nanny, saving $3,000. That just mean both the husband and wife need to weigh in more at different timing. Husband to tank all the night shifts and wife to bear the loneliness during the day.

3. Routine

• I am not sure what do you do for a living, but once you get a hang of your daily routine, you can consider doing something from home while caring for your child.

Hope this sharing gives you some perspectives.

Cheers!

Eric​​​