What financial advice would you give to a couple in which the woman planned to stay home and homeschool?

this couple is still engaged and has all the time in the world for financial planningWhat financial advice would you give to a couple in which the woman planned to stay home and homeschool?
Wow, you are really planning ahead. That's good.


Try to purchase your home first as well as any big ticket items like appliances, cars etc. Do not run up any credit card debt.


Arrange your life so you can live on less. (Don't live too far from the workplace to reduce commuting costs, try to get a place with a large enough yard for a garden and orchard, learn to live modestly, within the scope of one income, or have the woman devise some method of earning money at home)


You know, that is how people used to live and they did just fine. We have gone chasing after the consumer laden lifestyle and now require two incomes to support it. What a shame.


You will find that if you home educate your children and you stay home you will have time to plan a more economical life, with home cooked nutritious meals. And your children will not feel compelled to wear expensive designer clothes and have all the latest gadgets so they can blend in with the crowd.





The frugality that your grandmother exercised is not recognized in this age. Few people make their own presents, sew, knit, can or freeze fruits and vegetables, and educate and entertain their own children. Few people even use the library as a place of edification or entertainment anymore.





Good Luck, Good Planning.What financial advice would you give to a couple in which the woman planned to stay home and homeschool?
Now dont tune me out, this may sound crazy and radical. Ready?





Wife, don't start working.





I'm not just going on personal experience. We actually had somone recommend this to us. Let the wife learn how to cook and clean and have a routine and keep her hands busy through things like sewing or baking or gardening. Then when the children come, she is not a novice.





Financially, the husband will not learn to depend on wifes income, there will also not be the misguided attempt to buy a larger home bc they can afford it now. Live as you want to, not as you can right now. It will become so difficult to stop that paycheck!





My husband was earning 18,000 when we got married. We took this advice and now have 5 children. We qualify for food stamps and all sorts of gov't programs, but we don't have to use them! We make ends meet very well by learning to go without, and I earn money on the side by sewing or baking (you'll be surprised how few women can do this, and how easy it is--I have several people pay me just to show them how to thread the sewing machine, or start a basic bread recipe!)





When you start out with little, you learn the discipline of spending time with each other rather than spending money. You have the time to make your house beautiful during the day, then you can both enjoy a quiet, clean, relaxing home together at night. If only more people knew about this little 'trick' there would be a lot more stress-free women and men in the world.





Good luck and God bless.
I would second the advice about avoiding the big wedding. Even if your folks want to pay for it - ask for some help with a house downpayment instead. Don't go blowing 10, 20 or more thousand dollars on a one day party. Just don't do it.





Next, think about your career (and his) in terms of flexibility. My DH and I both homeschool our children. We are able to do that because we have careers that allow it - and we have forced the issue at times to make our employers realize this was essential to keeping us (or in some cases, started our own business when they wouldn't bend).





Live beneath your means, and save as much as you can NOW in retirement funds, so if you do need to stay 100% out of the workforce for the first few years when your kids are young, as least you have money working for you in investments during that time.





Good luck, enjoy your time together now!
I do homeschool and I stay at home.


1. Live by your means ONLY. Try NOT to use credit cards.


This seems to help short term. But believe me, the finance charges add up and you'll spend a LOT more in the long run.





2. Use the grocerygame.com It takes a lot of work in the beginning but it is SO worth it! I have been using it for 3 months now and I've saved 50 to 60% on ALL my groceries!





3. Research what you want to use for homeschool. Boxed curiculum sets are expensive and not required, unless your state laws say so. There are LOTS of sites out there where you can buy curiculum cheap. Some sites are ebay, amazon.com and homeschoolclassified.com





4. Buy from yard sales and thrift stores.





5. Make a budget. Make a list of all of your income, then make a list of all the bills you have for one month. I do the 'envelope' system, which means I use an envelope for each bill. For example, if my electricity bill is $100 a month, I put back $25 each week. When time comes to pay it, you have it.





6. Remember car insurance, car tags, property taxes, house insurance, clothes, etc. If you are really stretched on money, get rid of the things you don't need such as gym memberships, magazine subscriptions, etc.





7. If you have any money left after you pay for everything, SAVE IT.





8. A great site for all kinds of tips is www.cheapskate.com
Stay away from credit cards. (Well, that advice is great for anyone!) Don't spend money you don't have. Keep your check book balanced daily. Grocery shop thriftily. (If you have Aldi's in your area, go there for most of your stuff....cheap, cheap, cheap!) Don't buy boxed curriculum for schooling. Use your local library and print worksheets of the net.
Live below their means.





Wait several years before starting a family.





Don't spend big money on a big wedding.





Don't buy personal property stuff on credit.





Drive older cars rather than finance new cars.





Pay themselves first (save, save, save)... someone who starts saving at a young age (at least 10% of earnings, assuming an average salary and an average return on investment) can be a millionaire by their mid-40s!
Join a homeschool co-op. Have as many of your books be used or from the library as possible. Perhaps figure out some sort of online business the wife can do from home, to supplement the family income. Be prepared to eat a lot of rice and beans.





eBay and craigslist are your friends.
Read a lot of books about homeschooling! Also check out this big homeschool website: http://home.earthlink.net/~aabc_homescho鈥?/a>





The library will become your best friend!!





Happy Homeschooling and Happy Engagement. It never hurts to save as much as you can before having kids!
As far as homeschooling and finances are concerned, I've found it's cheaper to homeschool because you don't have to worry about clothes so much, what the other kids are doing, school requests for money, fundraisers and all that kind of stuff. (I've had five in school (3 graduated with one senior and one sophmore left at home) and I homeschool my youngest 8 yr old).





I homeschool my youngest and live well below poverty level. My biggest expenses are 1) satellite for internet (because we don't have broadband out here and reasonable download times with dialup is unrealistic) However, this is pretty much ';required'; with public schools these days..a lot of homework is based on internet research...





2) late library fees..lol..cause my daughter is always misplacing her dvds or audio books at the last minute...





3) gas (but now I don't have a car, so that's only an expense when I pay someone to drive us somewhere...like the library...)





I buy a few workbooks, but you can realistically homeschool just based on free information on the internet. And the library is just the most incredible resources. (Although if I had a choice between the internet and library I'd definitely choose the internet).





If I could budget:





I wish I had more money to take her on lots and lots of field trips. Traveling, museums, historical re-enactments...to me that's a great way to make an educational impact in a short amount of time. If I had the opportunity as this couple does, I would budget specifically for travel and field trip expenses. (Gas, tolls, admission fees - which are ridiculous these days...)





Money for lessons in music or art would be nice. (maybe part of the budget for ';private lessons';) Not necessary of course, but a nice addition. And I DON'T believe in pushing kids. I would do it just so they could get a ';taste'; fo something..help them see what they like/don't like, etc., to be introduced to something...and I wouldn't force them to continue.





I also wish I had more money for equipment, things like microscpes and telescopes, science instruments, samples..building stuff, wood, mechanical stuff...





I get most of our software online or at the library..and splurge for software every now and then....but there's so many cool software programs and books I wish I could get..it would be good to budget for software and books...





A (reasonably priced affordable even during ';down times'; not extravagant) house with land is a wise investment...You'll have security no matter what happens, and you can use it as an asset for future investments...





I think land is invaluable for homeschooling...think natural sciences...We have a house surrounded by woods and we have a ';short'; (sometimes) walk to a decent sized creek...I can't even begin to tell you how much learning is done outside!!! If you're homeschooling..I'd go beyond the typical suburban yard and provide natural resources for learnings...





I wouldn't buy a new car...a good used one with decent gas mileage paid for in full is a much wiser investment...it's easier to come up with repair money than it is to worry about monthly car payments....and who knows what's happening with fuel in the future...definitely consider mpg though!!!





I'd also forego the big t.v. entertainment stuff and invest in computer equipment instead. I raised my kids without a t.v for the majority of the time..one of the best decisions I ever made...we do watch dvds (or vcr) tapes though..but we're not ';tied down'; to t.v. schedules or the media influence, access to inappropriate shows, advertisements for scary movies and all that kind of stuff...Anyhow...this provides so much more quality family time..I remember my kids when they were little sitting in the middle of a stack of books reading on a saturday morning instead of glued to the t.v....(although I do like cartoons...)..but you find that the kids will find something to do once they're used to it...and its a lifestyle...it's easier to start with no t.v. than it is to have on then take it away...I'm not saying movies are bad..but i think the media is..and it's best to control what you watch and when you watch it..and it's more of a ';treat'; then...I think of it as ';what do I want to fill my child's brain with....';





Well that's my take on financial planning and homeschooling..it's really cool they're thinking ahead...and you'll be soooo happy you're homeschooling! (I never ever once regretted it...it's one of the best decisions I've made...)





Good luck to you!!!





Oh. P.S. (edit) I don't agree with the person that said wait to have a family...I liked being young with my kids..you have more energy..now I'm older and disabled..and wish I were younger to keep up! lol...
just don`t waste the money don`t be too perfectionist.and change your mind.get a part time job