No.

Before anyone jumps on me, I fully understand and recognize that some people can cut back all they want, and still come up short on basic living expenses. Writerscoin put it in better words than I can, in an earlier comment.

But my grandma's comments have begun to challenge my perceptions of what is necessary and what is not. Lately I've been thinking about my cell phone, digital cable, Netflicks, my daily trip to starbucks on the way to work, my $500 a month car payment, impulse buys at Target and Best Buy, and the fact that my family eats takeout at least three times a week. I grew up not having any of those things, but somewhere along the way I got it in my head that they're all necessities. It kind of makes me ashamed, to think of the money my wife and I have wasted over the years. Again, good post.

I mean I am sure I'd love my kids and want to be with them… but as it was with my parents, I needed space and time away from them to miss and cherish them

I would like a monetary threshold. For example should I stay home on my husband's $28,000 salary? Amazingly we could swing it. I doubt a lot of people could. However, I don't exactly think that I will be doing my child a lot of good if we can't afford to even take them to the local museum.

I'm going back to work in a few weeks because I want my child to have more opportunities. I want to be able to take them to Europe (while staying in family hostels), pay for college, and provide camps and sports and other things. This is from a mother who doesn't have cable, has cars over 150,000 miles, and finds her work clothes at K-mart.

Just remember staying at home on one 40,000 (around the national median income) salary is a huge difference than staying at home on one 30,000 salary. Which clearly half of the country is making less than that 40,000 per person in this is the median. Would you still suggest these people stay at home?

I know everyone's in a different situation, but I have to always point out that I didn't come from a wealthy family (until my teens my dad was a graduate assistant in PhD school and my mom stayed at home – we lived in university housing until I was 10); I paid my own way through school; I chose a demanding profession and worked VERY hard (countless business trips and 80 hour weeks) to be successful at it; I invested carefully (when my friends were blowing their money on cars and toys) and didn't ever incur debt or overextend myself; and my wife and I carefully planned out our financial future before having children. So yes, after all that I make more than 90% of the workforce, but I chose to do these things – they did not fall in my lap.

Strapped: Why America's 20- and 30-Somethings Can't Get Ahead by Tamara Draught is an excellent book on why my generation probably can't get ahead like the one-income households of the past.