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With the high cost of childcare, more and more parents are making the decision to have one parent stay home to care for the children.  However, this decision is not made lightly as there are usually significant financial repercussions.  We live in a society that is geared toward two incomes, so living on one income can be difficult.

The decision does not have to be all or nothing, though.  With good time management and organizational skills, the stay-at-home parent may find some ways to earn money while caring for his or her own children.

Consider one of these jobs:

1. Tutor.  If you were previously a teacher or excelled in a subject in college, you may be able to turn your skill into profit.  You can advertise the old-fashioned way by placing an ad or putting up a sign where college and high school students are, or you can go online.  Sites like WyzAnt help connect tutors with those needing academic assistance.  Many of these online tutoring sites let you work from the comfort of your home.
2. Babysit.  This is a good option if you like caring for children and can watch several at once.  However, you will probably need to go through an inspection to become licensed.  You may also want to draw up a contract with prospective clients to outline how vacation time will work (will you be paid or not), and if there will be a charge for late pick up, etc.
3. Before and after school care.  If you don’t want to babysit all day long, you might consider offering before and after school care.  The child will be dropped off to your home before school, and you will likely drive him to school as well as pick him up after school and perhaps help him with homework until the parents pick him up in the evening.
4. Virtual assistant.  More and more businesses (and even bloggers) are looking to hire virtual assistants.  Your tasks could range from administrative assistant work to accounting.  There are many virtual assistants today performing a variety of tasks.  The best perk of this job is that the schedule is often very flexible, allowing you to work when your child naps or is asleep at night.
5. Freelance writer.  If you have a flair for writing, you may consider pursuing a freelance writing career.  You could write for magazines or blogs or websites.  There are plenty of websites for writers including Make a Living Writing and Write to Done.

If you have chosen to stay home with your children, you can still find a way to make money.  The key is to find a job you can pursue part-time while your children are small.  Choosing a job that offers a flexible schedule and work that can be done from home is key.  Who knows, you may end up enjoying the job so much that you pursue it full-time when your kids are in school.

(Photo: therealhersey ^[3])