Can You Really Afford to Be A Full-time Stay-At-Home Parent?
Guest: Emma Johnson
A few years ago, Emma Johnson found herself unexpectedly divorced and a single parent of small children. A personal finance journalist and founder of WealthySingleMommy.com, she believes that no parent can afford to stay out of the workforce to care for children.
In this interview about a very controversial topic, she shares an historical perspective on one income families, and goes on to warn that “too many women are making decisions based on a fantasy.”
She then explains how to handle the juggling effort between parenthood (especially single parenthood) and work, and why you need to outsource the household chores you hate.
What about the cost of childcare? Emma says you must think long term, and not short term, and explains why.
"Do not abandon your career completely – EVER," she says. "WHY? Because life happens, ladies. Also: money is power. Money in the bank, access to credit, earning power, cash hidden in a shoebox – this all empowers you to make good, solid decisions for yourself and your family – decisions from a place of power, instead of fear."
Listen and share your thoughts in the comments below. Do you think any parent can afford to be a full-time stay at home parent? Why or why not?
About My Guest
Emma Johnson is a personal finance writer whose work has been featured in numerous outlets including MSNMoney.com, Real Simple magazine, and RetailMeNot.com. After her then-husband suffered a traumatic brain injury, she became a single parent to two. She’s continued to work as a journalist, started her own blog, and has stirred up boatloads of controversy with her novel ideas – like the 10-year marriage contract. She says she loves “the creative freedom and unlimited financial possibilities that comes with self-employment – not to mention the flexibility to build a really great family life.”