Parenting

While many American households feature two working parents, there are plenty of expectant mothers and fathers who want to stop their traditional jobs to care for children — at least for a time. Whether it is the mother or the father who will be focusing primarily on child care, there are some big financial issues that come with this lifestyle change. Here are some tips on how to prepare your family’s finances for having a stay-at-home parent and (primarily) living off of one income. 1. Discuss Becoming a stay-at-home parent may seem personal, but it is a major family decision. It’s important to brainstorm the advantages and disadvantages together, think about the emotional and financial repercussions and how both partners’ roles and responsibilities will