The Indiana University News Room estimates that there were more than 5 million stay-at-home parents in the United States as of 2009. While more mothers are returning to work after having children, there are still many mothers and fathers who choose to be stay-at-home parents. An important part of proper family planning is deciding whether you want to stay home with your baby or use a daycare provider. Each option has its own merits.
More Money for Working Families
One of the primary benefits of returning to work rather than staying home with a baby is the financial benefit of earning a paycheck. For some parents, that paycheck is an absolute necessity. For others, the additional money can mean better opportunities for the children.
The Cost of Giving Up a Career
For many stay-at-home parents, deciding to stay home involves giving up your career. This can be difficult from a personal standpoint, and it also has significant financial consequences. According to MSN Money, the average stay-at-home parent who gives up a career also can be turning her back on more than $1 million over the course of her life, including salary, medical benefits, retirement and pension benefits and bonuses. A professional person probably would give up even more.
Well-Adjusted Children
Studies are divided on the effect of child care on children. Some studies suggest that children in daycare have higher levels of stress and might show more aggression than children not in daycare. But other studies suggest that children in daycare have better social skills and do better in school. The National Institute of Child Health and Human Development Children, which conducts an ongoing study, concludes that "Children who were cared for exclusively by their mothers did not develop differently than those who were also cared for by others." The critical thing is the quality of care, whether that care comes from a daycare center or a parent.
The Cost of Daycare
Although a working parent brings home a paycheck, the cost of child care can cut into that paycheck substantially. According to the Baby Center website, daycare can cost anywhere from $3,000 to $15,000 a year or more. This is one important consideration as you weigh your options for child care.
Finding the Right Balance
Just being at home with your child during the day doesn't make you a good parent or make your child more successful. Every parent or family needs to do what works best in their particular situation. Analyze the cost, the social and educational implications, and your career aspirations before making your decision. And make sure that whether your child is in daycare or at home with you, he receives the highest quality of care.
References
- IU News Room: Mother's Day in Indiana by the Numbers
- Baby Center: Stay-at-Home Parents
- Family Education: Working Mothers
- MSN Money Central: Cost of Being a Stay-at-Home Mom
- Baby Center: How Much Does Daycare Cost?
- National Institute of Health: The NICHD Study of Early Child Care and Youth Development (SECCYD): Findings for Children up to Age 4 1/2 Years
