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The Baby Weight: Stay at Home or Go Back to Work?

by | 07/18/2011

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The Baby Weight

Exclusive excerpt from The REAL COST of LIVING (Perigee/Penguin) by Carmen Wong Ulrich.

Weighing the costs of staying at home vs. going back to work should be personal. Weigh your sanity and happiness against and alongside the financial repercussions of taking time to stay home. Calculate just what an unpaid twelve-week (federally mandated for most employers) leave will cost your bank accounts, and work to save up your vacation and personal days so it ends up being more like eight weeks unpaid leave. Also, look realistically at your health insurance situation, retirement benefits, your taxes, and any other work expenses such as commuting costs. It may make more sense for the father to opt out for a while instead. And as we advance in the workplace, more and more dads are making that choice.

Should you decide to stay home for longer to care for your family, realize that not all costs and benefits are financial. The time you spend raising children is a fantastic investment in both their future and yours. You may not see a price tag return on this investment now, but there is no doubt that it exists not only within your four walls but in the greater society as well.

Real $$$ Cost of Not Working Full-Time After Birth of Child Real Personal Cost of Not Working Full-Time After Birth of Child
Lost wages/income Adjustment to new role/status
Possible loss of some employer benefits Loss of daily contact with colleagues (possible feelings of isolation/loneliness)
Possible wage penalty (grows in relation to amount of time out of the workforce) Loss of face time with higher-ups
Anxiety over lost time at the office
Possible distress/concern over household finances/loss of income
Real $$$ Benefits of Not Working Full-Time After Birth of Child Real Personal Benefits of Not Working Full-Time After Birth of Child
Save substantially on childcare costs Ability to be fully engaged and involved in child rearing and household management
Save on transportation/commuting costs More control over family plans and child rearing
Possible freedom to explore new, more lucrative career opportunities Possibly lower stress levels than if juggling work and home
Ability to find alternative income streams via part-time work or working from home Ability to maintain/grow more personal relationships/friendships
Real $$$ Cost of Working Full-Time After Birth of Child Real Personal Cost of Working Full-Time After Birth of Child
Childcare costs Distress over not being at home with child
Possible higher transportation costs for commute Additional demands on time may mean even less time for sleep and/or personal needs
Purchasing work attire Time constraints can lead to limited/less time for personal relationships/friends
Real $$$ Benefits of Working Full-Time After Birth of Child Real Personal Benefits of Working Full-Time After Birth of Child
Additional (or main source of) income for household finances, retirement planning, emergencies, and discretionary income Personal fulfillment; ability to continue career goals
Lessened to no wage penalty Maintenance and building of extended network of colleagues
Ability to stay on track to increase pay over time/get promotions/build a business Lessened anxiety over family finances
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