The 'basic math' of staying home versus working outside the home

Why You Need to Start a Daycare

by Fiona Lohrenz

Related Articles

The Best Sites for Finding Work at Home Jobs

How to Become a Work at Home Mom

Starting a Daycare

So, you already know what you hate. Maybe it's your thankless job, ungrateful, uncaring boss, the grinding commute for hours, not spending time with your kids and the breathtaking pain you feel when you leave them crying at a daycare every day. You feel so trapped and paralyzed by financial constraints. Yet, you can't see a way out of the rat race. Worse still, you can't shake the guilt and sorrow you feel at not watching your kids grow and develop during those formative years, not knowing what's happening to them in their little, daily lives.

Despair no more because there is a way and it is a lot more achievable than you may believe! It is possible to stay home with your kids and replace your income whilst cutting your expenses by starting your own home daycare. You ask, "But how can I possibly make enough to match my current salary?" "Basic math" is my response. Just as an example, let's start with an average gross monthly income of $2800.

Gross Income $2800
Minus Taxes $800
Minus Gas $150
Minus Daycare Costs $550
Minus General Expenses $300
Net Income $1000

So, bottom line, in order to replace your current income with home daycare income, you need to make $1000 per month. In order to achieve your goal, you will need two full-time children based on an average cost per month of $500 per child for daycare. Not exactly insurmountable! You can also decrease your tax bill substantially by offsetting a lot of your necessary household expenses against your business profits. Clever, fastidious bookkeeping can save you a considerable amount of money.

Life is flexible. Is your job?
Find flexible work at

I have brought it down to the simplest terms so you can see exactly what being employed is costing you both spiritually and financially. Our conditioning is such that employment is the norm and those who attempt to become entrepreneurs are either dreamers or risk takers. However, now you can see how the dream of self-employment is easily within your grasp by starting a home daycare.

The benefits are immense and immediate. Quality family time becomes a given. You control your days and make your rules. You are active and having fun, doing something worthwhile to all concerned. For the right person it's a wonderful situation.

Reviewed May 2017

Fiona Lohrenz has been running her own daycare for the past 10 years.

Take the Next Step

  • Learn more about starting a daycare or other home business by visiting the Dollar Stretcher Library.
  • Find telecommuting and other great jobs such as part-time and freelance work at Because life is flexible. Is your job?
  • Learn smart ways to raise your family on one-income in this two-income world. The Dollar Stretcher's Guide for One-Income Families will give you ideas for reducing expenses and making money from home.
  • It's tough raising kids today! You need every time and money saving idea you can find. That's why you'll want to get our free weekly Dollar Stretcher for Parents newsletter. You'll find great ideas designed just for parents that will help your family 'live better...for less'! Subscribers get a copy of our ebook Little Luxuries: 130 Ways to Live Better...For Less for FREE.

Share your thoughts about this article with the editor.

Debt Book
Stay Connected with TDS

Do you struggle to get ahead financially?

Surviving Tough Times is a weekly newsletter aimed at helping you stretch your dollars and make the most of your resources.

Debt Checklist

And get a copy of Are You Heading for Debt Trouble?
A Simple Checklist and What You Can Do About It
for FREE!

Your Email:

View the TDS Privacy Policy.

Debt Book