What Things Should I Consider...

Minimal clothing costs.

Gas and wear and tear on car.

At $10 a pop, you will save a lot more than $30 a week.

Cooking at home.

Possibly higher income taxes?

For me, anyway, when I am frazzled to the max because of doing too much, other things end up costing more money. I don't have the time to wait for a sale, so I pay full price. I don't have time to call about the extra charge on my bill, so I pay it. Etc.

Working does cost money. Not working will definitely save money in some ways. Have fun!

It's amazing the money you don' t spend when you're not at work--fundraisers, catalog parties, etc. lol

Seriously, stay out of stores except for planned trips with a list.

Otherwise, it won't take you long to see savings. (Except for that slight spending spike on yoga pants!)

When I lost my job we had to cut a lot of expences to make it work... here is somethings I did:

First call around for insurance quoting... I found that I could save nearly $800 a year between the home owner policies and car insurance if I swiched companies.

Look into the utility factors...
phone, internet and dish - I found a package that fit us well, but cost us nearly $30 less a month, but we didn't loose anything we wanted.

electric & gas - look into things like PIPP and HEAP... not sure what your income is, but they do help with utility cost for lower income families & with the new PIPP Plus programs, you don't have to have a bank of unpaid amounts like the old PIPP left lower income people with... My electric & gas went down by nearly $150 - 200 a month.

Also, if you get PIPP or HEAP you qualify for a Life Line discount on your home phone (makes your land line around $8-9 a month) or to get a free basic cell phone with so many minutes.

Next is housing...
if you don't own your home, see if you can find somewhere a little cheaper to rent or even buy that still fits your needs

if you do, see if there are any programs availaible to reduce you morgage payment... there was a Federal Making Homes Available passed & in Ohio there is a grant (save the dream) also available for families that have had major change in there situation since they bought there home. Which pays part of your morage for a up to 15 months but not to go over $15,000 per family. But with this you have to pay back part of the grant if you move within 5 years... so know going in you will be there for 5 yrs or pay back 20% per year not there.

food...
depending on income - if you are expecting or have a child under 5 you may qualify for W.I.C. (Woman, Infants and Children). The offer coupons each month to help with healthy food purchases: expecting moms & kids 1-5 - eggs, milk, cereal, bread/grains, fruits/veggies, peanutbutter or beans, & juice, plus tuna and cheese for nursing moms, where as infants get formula, infant cereal and jarred baby food (fruits/veg all babies and meat for nursed only babies)

coupons always help... check your stores to see if they take printer coupons and if they have instant ones you add to your advantage card. Plus, look for double coupon days or stores - the Giant Eagle around here does double coupons everyday up to .99, plus you can stack their instant coupons and manufacturing coupons... and if you have a buy one get one (but they do not take printer B1G1 only cents off) and 2 coupond for .50 off you can use all 3 coupons on 2 items. But look into your store & their rules for coupons.

Something else I have done is use coupons on an item I have a rebate check for as well... for example formula - you get rebate checks in the mail if you sign up for them on the formula websites, then you get a coupon for $5.00 off a can of formula - if you use both the rebate check for sometime upto $12.00 and the $5.00 coupon - you actually get paid nearly $4.00 for buying the $13.00 can of formula - lol.

Try to buy as much as you can on sale & if you don't have issues with the "cheep" food by the some off brand stuff. But most of all start watching the small printed per unit price not just the actual price of the items, sometimes you can get name brand for less the then off brand & sometimes you are better off buying 2 small jars insead of a large jar of something. Sounds odd, but it is true.

Next, road side veggie stands... they usually have the freshes, best tasting and cheapest fruits and veggies you can find. So if you like fresh foods check them out. Or of course it's to late this year, but plant a few plant yourself. 3 or 4 baby tomatoe plants only cost about $2.00 at a greenhouse, but if they grow they give you tons of tomatoes and just one or two bought in the store will equal out the plant cost... same with pepper, cucumbers, squash and zuccinni. Not to mention canning can be rewarding (although it can be a lot of work).

We also cut out eating out - cooking is much cheaper!

As for entertainment...
we put a pool in our backyard - one time buy & we don't have to pay for a pool membership (although there is upkeep costs)

we love to walk in our local Metro Parks and the kids love seeing the nature... but most of all it's free

I take the kids to the school playground, since it is the closes playground & we usually walk since it is just 3 blocks away.

And lastly gas for the car...
we shop at the grocery store that offers us the best fuel perks... which around here is Giant Eagle. Plus if we need something for HomeDepot, Staples or any other store that Giant Eagle sells gift cards for - we by a gift card so we get fuel perks for whatever else we need else where.

I know this is a long reply but I hope some of it is helpful... good luck trimming your budgets corners to make it work :)

There are a million and one ways to save money while staying home, but I'll be a bit of a party pooper just to give you more to think on. (And I am a sahm, so it's not like I'm trying to discourage you, lol.)

Utility bills can go up when you're home. Lights, heat/ac, television/computer/misc., water, etc.
You still have to eat. So, while it might not be $10/pop, don't subtract a full $10/pop.
It's easy to get caught up in buying things to save money, so be aware of that. I just spent $50 on clothes drying racks to reduce my electricity costs. It'll take a few months to break even. I purchased new equipment and kits to make my own yogurt and cheese. It'll take even longer to pay off (but it'll be yummy, fun, and healthier in the meantime!) I bought a bread machine for making my own bread. I think that expense has balanced out now, but it's been about a year.

Just some food for thought.

Wear and tear on your car or if you have a car note-get rid of it and pay full cash for a "decent" car to get you around on just errands. Or you and hubby could share a car if that's possible. That will never be an option for us because of where my hubby works and the hours he works.
Couponing is surely pure dedication. With two small ones at home it would be worth your while while thinking at the same time -its not. If you dedicate just a small amount of your time to it-the savings can be substancial. It's just like anything else.....you get back what you put into it for the most part. Some women can be extreme-personally I don't want to dedicate that much of my time to it but I still coupon. Look for the "kids eat free" or reduced meals on certain days. For example the wendy's down the street from us offers 99 cents happy meals thursday's from 6-8. I could buy a meal that cheap at the grocery store if I tried-lol!
Check out Dave Ramsey if you haven't already and apply his techniques while you still have that income.....I don't agree with everything but he has a bunch of great ideas. He gives alot of ideas to cut out certain expenses if you are willing to live like no one else for now so that one day you CAN live like no one else ;()) Good luck!

This is what comes to my mind......call your car insurance company and tell them you'll no longer be doing those long commutes and see if they can lower your rates. Of course, this will only work if they were aware of the type of commute you had in the first place.

We do many of the same things you had mentioned. Clip coupons, watch sales, don't necessarily need to buy in bulk unless its something that won't spoil. We eat most meals at home, use the slow cooker to make meals.Your electricity & water at home will go up with everyone at home but ours didn't make a significant difference. Second hand shops have some cute clothes if you hit it at the right time which I never seem to do...I am usually a day late! Good luck & hope you enjoy being at home!

Do you clean your own house? You will have more time now and can save money there by doing it yourself if you don't already.

Cooking and eating at home........ egg salad one night a week, etc....

I painted the kids room, mowed my own lawn, cancelled the newspaper, made netflix our movie night and socialized with friends by rotating houses and playing games ...... all when my kids were young to save money..... and it was great! I even learned to be my own handywoman.

Consider babysitting to bring in a few dollars or driving kids home from school for a working mom. If you have a talent you can use to earn, use it..... or consider starting your own home business. I started my own home business. I admit..... I worked at it in the beginning, but not so much now...... I don't make a ton but still enough to make a difference. I'll be glad to tell you about it if interested.

More meals can be made at home for everyone. Including making lunches with leftovers for your husband/bf/significant other.

You'll have the time to make a precise, clear cut budget to follow.

Schedules and lists.... They can be your best friend!

Not that you seek it out but you should have tax savings. I worked for a while when my older kids were younger. I found that because of the difference in what my and my then husband were making half of what I made went straight to taxes. At least for us when we did the math I found I was working for a little more than a dollar an hour. Add to that what I spent on me, since my income was mad money we were losing money by me working.

Figure the commute at how many miles to work times six, times the average per gallon price of gas. Then add maybe one or two percent to that for maintenence of the car due to the miles. The IRS figures this at .51 per mile if that is easier.

Cooking from scratch can save tons of $$$. So can cooking in bulk (ie, I buy the 5 or 10# tube of ground chuck and cook it all at once; half in meatloaf or meatballs and half simmered in water to use for tacos, stuffed peppers, etc.)

If your spouse needs ironed/laundered shirts & pants, you can start doing that at home (let me add the caveat that I hate ironing, so I might try to avoid this if at all possible by taking out the laundry, particular dress pants and hanging them up on a clothesline).

If you are changing your driving habits pretty drastically, it's worth it to call your car insurance company and find out if this can positively effect your rates (ie, they will give you lower rate because you're driving less and not as much/at all during the worst traffic).

If you have little ones in diapers, you have the time now to add another couple loads of laundry per week for cloth diapers (it really is cheaper, especially if you use prefolds and second-hand covers like from ProRaps).

If you're crafty, you now have (some) time to make wonderful crafty gifts for friends and family. Some are not hard (I made dress up skirts out of tulle, tied around an elastic waistband, for 3 nieces, for example for Christmas last year). This can save money (if you're careful and can scrounge craft supplies without paying retail).

This isn't necessarily a 'save money' tip, but I do 'earn free samples' when Walmart or Target or whoever else is giving away free samples. I find most of my samples at www.freebies4mom.com (this gal has sweepstakes too). You can sign up a www.vocalpoint.com too for samples they offer periodically.

Not sure if this was mentioned, but the cost of doing things outside of the home with your children - museums, indoor play areas, zoo, etc. Its definitely cheaper in the summer.

Also, if for some reason you're unable to breastfed effectively, the cost of formula. My son was a premie and needed special formula as a supplement, which was sometimes $70/week :( Some babies aren't premies but still need special formulas which are extra costly.

We definitely go without many things compared to others we know, we me staying home and working part-time, along with my husband being blue collar and not making nearly as much as others we know. But I can't imagine not being home, even on the days when I know work was easier, haha.

Good luck!

I'm not sure if this has been considered or not, but you can start making hubby's lunches too. And coupons are a life saver. The comment about the cloth diapers is also very true.

I also commuted when I worked, I am saving on gas and maintenance to my car including oil changes and tires. I am saving on my wardrobe, lunch, and extra shopping I did after work. I also cook almost every night which saves over picking up something on the way home. After working all day, I would frequently pick up something on the way home because I didn't feel like cooking.
Increased expenses are heating/cooling the house all day and more groceries for meals/snacks at home.
I did not cut satellite, cells, or internet but could if we were strapped!

I have the time to shop so I shop

Coupons help, but I've found the biggest cost savings from watching for sales and being more organized in my shopping. Just one example - about once every month or two Target has diapers on sale and gives a $5 gift card, so I stock up then (usually using a brand coupon AND a target coupon for every box, plus their 5 cents for bringing my own bag, plus the 5% discount for using the Target creidt card).

Wardrobe was another big one for me. I still buy some clothes for myself, but they are usually less expensive than my professional clothes were (and I can wait for a sale), and they rarely need professional cleaning (I now check the labels before buying to make sure I can launder myself).

Meals are much cheaper when I have the time to make them from scratch, and I usually make enough for leftovers for DH's packed lunch. I'm not a coffee drinker, but I know that would be a huge saving for some.

It may be obvious, but make sure that you look at your "take home" pay as your lost income (not your salary). Since you don't have the earnings, you don't pay the taxes... and may even drop to a lower tax bracket with the lower combined wages. You will get a federal tax credit when you have your child (although this happens whether you're working or not).

I do save some money by being crafty (kids make their own thank you notes), but it may be a wash since I probably do more thoughtful things than I did when I was working ;)

Keep a "spending journal" for several weeks and spend like you "normally do". Write down EVERY PENNY- bills, coffee, lunch out, nails, hair, clothing, groceries... everything!

Then take a look at your spending categories by week and start cutting. Take a look at your grocery list... now that you are going to be home and have time (in theory) to make more things from "scratch", you can buy whole chicken rather than pre-pieced; bulk meats and portion them out, etc.

I would take a look at what things you can eliminate b/c they created "convenience" or "time" and eliminate those things first! If either of us were to lose our jobs in the near future we would eliminate childcare costs ($900 per month), housekeeper ($600 per month), commuting costs ($250 per month) and go from there...

Cooking! Major healthy food prep so you don't have to waste $ on convenience food! Good for both of you. Pick up extra slack on hubby's stuff like maybe mow the lawn sometimes, so when he gets home he can relax (I know, doens't save $). You will be able to find and hit sales more often. You'll have time to shop for different insurance etc if needed.

Dry cleaning? You won't need to do that. You may even be able to get a home dry cleaning kit and launder/press your husband's work clothes.

Oh, and if you exclusively breast feed (which for me, would have been so much easier if I didn't have to work/pump) you won't have to buy formula.