4. Review your spending

It's important to know where your paycheck goes each month. No one like to budget, but you won't be successful unless you know how much you spend and where you spend it. Between your credit card, debit card and bank statements, you should have a pretty good idea. You don't need to track down every penny, but your miscellaneous category shouldn't be more than 10 percent of your expenses.

5. Adjust your spending habits

Any worthwhile goal requires some sacrifice. The same is true of being a stay-at-home parent. You'll need to adjust your spending, and you don't need to wait until you quit your job to start.

Begin with luxury items and conveniences. Now is the time to find out whether you're willing to live without premium TV channels and daily trips to Starbucks. Don't be afraid to make cuts that seem a little painful. Set aside any money you save, and put it in a savings account. You'll find it handy when you face an unexpected bill after you quit your job.