For me, it is all about the child. I could not imagine anyone holding, cuddling, reading to, comforting, teaching, feeding, exploring with, cooking with, creating with, modeling appropriate behavior to, etc. in the unique way that my child needed, when he needed (not when it fit someone else's schedule), as I would. There was nothing that any extra income could have brought into our family that was worth me working. We had to do without a lot of nice things, but I had the time to get very creative with our money and we went fun places and did a lot of fun things.
By the time I would work, pay for a sitter, pay the taxes, buy clothes, pay the gas and car upkeep, pay for eating out and prepared foods (because I was too tired or too busy to cook), I really don't think the leftover money would have been worth the time away from my children.
My kids thought I was the best mom ever because I was there at all of their class parties, school events, sporting events, field trips, etc. when they saw that most of their friends couldn't have their moms there. In fact, that was one of the main reasons I wanted to stay home with my kids - my mom was never able to be at any of those things. And that was so long ago that my mom was one of the few that wasn't ever there.
If you ask either of my grown kids if they will ever put their kids in daycare, they will tell you, "Absolutely not." If your son only had one day of one of those "horror stories" you have heard about, would it be okay with you? Would the extra income be worth it? What would you say to him when he was older and asked why you put him in that horrible situation? Would you say that you liked working? Or that the extra income was nice?
Do you have a church home? Or have you met any other moms at the park? I got to know a group of moms who regularly went to the park together. We finally formed a play group since our kids were close in age. I got really close to one of the moms and we would swap babysitting so we could have date nights once in a while. The kids loved it as much as we did. My husband wasn't really fond of having someone else's kids over when it was our turn to watch them. I just had him go out with his buddies on those nights. The kids entertain themselves most of the time anyway and my husband wasn't needed.
Sometimes we would just have a date night after the kids went to bed. Our kids always observed a bedtime so we could have time to ourselves. When we had a jacuzzi, we brought the baby monitor outside with us and we enjoyed some quiet time.
I don't know how moms who work outside the home have the energy and patience to be there for their kids and their husbands and do the shopping, cleaning, cooking, etc. My husband worked hard and really appreciated not having to help with all that on a regular basis. He has always helped here and there, but he enjoys it because it is his choice when he wants to help - like when people are coming over and so much needs to be done. He also likes the fact that I wasn't too tired to be there for him.
Now that the kids are grown, I can do what I want, buy what I want, etc. My kids never felt deprived of "things." Once in a while when they would comment on a friend getting some extravagant toy, I would say that I could go to work and we could afford it. They would say, "No!" That's when they were a little older. But imagine if your son could talk, what would his choice be?