More Moms Can’t Afford to Work
April 18, 2012
When you consider the cost of one’s daily commute, childcare, and work-related expenses like office-appropriate attire (sadly, yoga pants won’t cut it in a professional setting) and occasional lunches out, a growing number of moms are finding that they can’t afford to work, reports CNN.
Increasing gas prices, car maintenance, parking costs and the greater possibility of traffic tickets adds up quickly—and that’s just to get you to the office! Meanwhile, children younger than school age need to be cared for in a parent’s absence—but the cost of putting two kids in childcare exceeded median annual rent payments across the country in 2010, according to a report by Child Care Aware of America. Though moms could be pulling in an added salary, where does most of that money go? Financial advisor Anna Behmam tells CNN, "it comes down to a cost analysis and I have several clients that have taken the route of quitting.” After all the added costs of working, from taxes to clothing and childcare, the true net cost of a working mom’s salary might have little impact on the overall household finances.
Many factors determine whether or not you work after having children, from a mom’s personal choice—which shouldn’t be forgotten in all of these calculations—to financial necessity, but the cost of working just might not be worth the paycheck.
Did you go back to work after having kids? If so, was it full- or part-time? Did you have a choice in the matter?