Affording Homeschool, Can You Survive on One Income?

One of the hesitations you'll likely face when entertaining the notion to homeschool is that of family finances. While the curriculum itself can be expensive, it's not usually the deal breaker. In fact, there are affordable homeschooling programs and methods, some costing as little as $20 a month. The real financial concern is not actually an expense at all, but rather the loss of income usually experienced when one parent leaves the workforce in part or in whole to become their child's educator. It's all for a noble cause, but many families simply don't think they can spare that second paycheck.

Some couples do manage to homeschool without sacrificing a second income, either by working alternating shifts, working from home, or by having the teaching parent cut his or her hours back significantly. While this isn't impossible to do, it isn't easy either and one should really consider what type of strain such schedules could have on the family. It's also important to realize that homeschooled children rarely learn independently, especially when they're young. They actually require a lot of your time, attention, and interest in order to succeed with whatever curriculum you select.

Here's the upside... if you're considering homeschooling, but can't get past the very real fear of how you'd survive financially, take a moment to calculate how many budgetary corners you'll actually cut. Don't make any decisions before putting pen to paper and actually doing the math, you might mistakenly rule out homeschool as a viable option.

Here are the more obvious areas homeschooling families generally save money:

Clothing
The clothing budget changes dramatically when your children don't require a school wardrobe. This is true whether you're paying for school uniforms or the latest styles your teenage daughter can't be seen without. If we're going to be real honest here, you won't typically dress your children the same way when they're home all day, as you would if they were surrounded by peers and teachers. You can generally get by with just a couple of nice outfits for days when you're out and about. Save your nice clothing for church, homeschooling coops, play dates, and the like. Have your kids dress casually the remainder of the week. If you've left a career, you'll find yourself in the same position... wearing those comfy blue jeans and tennis shoes that can take a beating and only get more and more comfortable along the way. Trust me, you'll save a bundle on pantyhose and even makeup as you'll likely wear them far less often.

School Lunches & Eating Out
Once again, the savings from eating at home don't end with your children... imagine all the money you'll save not grabbing a bite to eat on the way to the office, or on your lunch hour. If you drink soda or buy snacks from vending machines, consider what you currently spend each month snacking. And while school lunches may not seem all that expensive, you'll always spend less eating at home. Not to mention, you'll enjoy the added benefit of controlling what type of fuel goes into those growing minds and bodies.

Gasoline
This has never been more true than today, with the cost of a gallon of gas soaring over that of a gallon of milk. If you can cut down on driving your kids to and from school everyday and choose just one or two days a week for outings to the library, museums, coops, play dates outside the home, and the like, you'll save a mint. Not to mention the gas you'll save if you opt to give up a daily work commute.

Childcare
After school daycare expenses can be another budget breaker. If you're working full-time and have your kids in school, you likely also have them involved in after school programs or daycare for a couple hours a day. What is that costing you?

Cell Phones
Do your children each carry a cell phone? Would they still need one if you were home together? Many parents equip their children with a cell and pay the price each month. While this is totally appropriate when you're separated from one another for hours at a time, it's an expense that could all but disappear if you pulled them out of school. One cell for each parent would likely be enough and could be shared amongst family members as the situation dictated.

Conclusion:
Have you kept track of what type of expenses that second income currently covers? Take a look at your checking account and credit card statements and calculate how much money you currently spend on gasoline, back to school wardrobes, eating out, and yes... pantyhose and makeup. You might just be surprised at what dollar amount you can comfortably survive on and what services and goods you can survive without.