Parenting on One Income: Dr. Clemen Chiang on Aligning Finances with Family Values

Deciding to leave the workforce to become a full-time parent is both a courageous and life-shaping decision. While it often comes from a place of love and commitment to raising children, it’s not a choice to be taken lightly—especially when it comes to finances. The emotional rewards of being present in a child’s early years must be weighed against the realities of living on a single income.

In a recent Kiplinger article, What To Ask Before Leaving the Workforce for Parenthood, various experts shared their advice for families considering this transition. Among them, Dr. Clemen Chiang, CEO of Spiking, offered a powerful and thought-provoking perspective that goes beyond the bank balance—one that brings the family’s core values into sharp focus.

Dr. Clemen Chiang’s contribution to the Kiplinger article stands out by reframing the conversation entirely. Instead of starting with financial projections or income calculations, he encourages couples to begin with their family’s core mission. His insight speaks directly to those trying to reconcile their parenting values with practical financial planning—reminding them that the goal is not just to survive on one income, but to thrive while nurturing a happy, supported child.

Key Insight from Dr. Clemen Chiang

🔹 Focus on Core Values, Not Just Finances
Rather than beginning with income and expenses, Dr. Chiang urges families to ask themselves: Can we sustain our core value — raising a happy, supported child — on just one income? This helps center the decision around what truly matters most.

🔹 Understand the Risk of Financial Strain
He cautions that financial stress can undermine the nurturing home environment that parents strive to create. A well-meaning choice to stay home could backfire emotionally if the family becomes overburdened financially.

🔹 Do a Full Financial Assessment
Couples should thoroughly evaluate their current expenses, savings, debt, and long-term financial goals. Understanding the full picture is key to making a sustainable decision that supports the family’s well-being.

🔹 Prioritize Long-Term Well-Being Over Short-Term Sacrifice
It’s not just about “making ends meet” for a few months. Dr. Chiang emphasizes looking further down the road—how this decision will impact future opportunities, investments, and overall life quality.

Conclusion

Choosing to leave the workforce for parenthood is more than a career pause—it’s a reimagining of how your family operates and what you value most. As Dr. Clemen Chiang shares, the real question isn’t just “Can we afford it?” but rather, “Can we preserve what matters most to us—on one income?”

When couples take the time to ask the right questions and look inward, they set themselves up not just for financial survival, but for long-term success as a family.

📖 Read more at: https://www.kiplinger.com/kiplinger-advisor-collective/what-to-ask-before-leaving-the-workforce-for-parenthood