[terry1156]

I think vendigirl has put forth an option that you should consider to see if it makes more sense than finding an outside job. Taking in other kids as a job would have a number of benefits:

Looking at your numbers $12,000 of your income will go to child care expenses cutting your take home pay in half. Subtract another $6,000 for taxes and your left with $6000 in income which doesn't even take into account your commute costs, work clothes, etc.

If you can do the day care, not only will you be able to stay home with your children, your save the $12,000 for your estimated child care costs and $6,000 in taxes. To make the same $6000, you would need to bring in $23 a day ($6000 divided by 260 work days). You should be able to get that for doing day care for one child for only a partial day and if you had 2 kids come over, you would be far ahead than going out to work.

The $6,000 in this case is before taxes while the other example is after taxes, so they aren't exactly the same. But in this case your wouldn't have to pay taxes on the $6,000 your earned since it would be a home business and you could deduct the $4,000 in costs against it (the costs you are paying already anyway) meaning there would only be $2,000 in taxable income (and probably less since it would not be hard to find other qualifying deductions)

You have to keep an open mind. Although staying at home and earning $6,000 doesn't sound like the same as earning $24,000 outside the home, it works out to be the exact same.

If you can get a couple of kids to do day care for full time, your salary would be the same as about $40,000 a year with an outside job. Please let me know if anything I have written doesn't make sense and I will try to explain it better for you, but I think vendigirl's suggestion may be your best option and will let you stay home with your kids.