- Daycare: We'd like to try and avoid this option as much as possible. Between not being comfortable with strangers taking care of our baby, and the cost of daycare, this will have to be a last resort.
- Family members and close friends: We have several people in mind that may be able to watch our baby while @ work. We'll only need someone to watch the baby 4 days a week, from around 9 in the morning to about 3 or 4 in the evening, about 6-7 hours. So hopefully that may make it easier on whomever is willing to help us out. My job schedule is flexable, so I may be able to shrink it down to 3 days a week.
- Change of work schedules: Like I mentioned, my schedule is flexable. If need be, I can watch the baby during the day and then my wife during the evening while I work. We feel this may be tough on the marriage, so we'd like to make this next to the last resort.
- Wife quits job: This is another tough decision. The wife is the one with the bigger salary, so it would be financially tough to live on only one income. We haven't run the numbers yet, but I believe we may be able to do it for a while. We're currently saving for a house, and plan on purchasing one in about 3-4 years. If she quits, it will really delay things. Another reason for moving is to find a town with a good educational system. The city we currently live in...does not.
The bankrate article gives 5 tips/suggestions on how to check if your family can survive on one income...