If your family can survive with one breadwinner only, then i think your child will benefit tremendously with her mother staying at home.
Kids crave for attention, not expensive toys/clothes/holidays. So don't feel guilty if you choose to be SAHM and have to cut budget. The time that your child spend with you - no amount of money can replace that. You'll be the first one to see him acquire new skills, you'll be the one who guide his life, and you'll not regret that when he grows up and starting to be independent.
Time is golden. Don't lose your child's childhood just because we think materials are more important to him.
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