I think that every one with a baby has to go through this difficult decision whether or not to stay at home with the kid or opt for daycare and go to work. My wife stayed home for the first 4 weeks, and then she was back to work full time, 40hrs/week. My mom was in town for the first two months, so that was not a big deal...but when she left, we had to adjust quite a bit.
She now works at home and at night. I come home at 6pm, we eat dinner, and she goes to work from 7pm to 1am - the other 10 hours she works at home when she can. We can do that because of her position...she could do 95% of her job at home, and that is what we initially thought will happen, but she quickly realized that she is able to do twice as much work at the office - there are too many distractions at home.
So I take care of the baby during the evening.
When, God willing, we're be blessed with a second kid we'll have some more choices to make. But one thing is for sure, she will not be working full time anymore. We both feel strongly about having one of us, in this case her, raise our kids instead of a stranger - and I am not knocking anyone who does this, we just don't feel comfortable with the idea. It will be difficult to raise the family on my salary alone, but on a budget I'm sure we can do it.
Right now we think she might continue working part time - upto 25 hours, or I will concentrate more on making some more side money building furniture. We will need to subsidize our income somehow to cover for insurance, otherwise, she will go on a public plan.
But, whatever you do, I recommend having a routine with your baby. Babies, and kids, love routines! But it takes a lot of commitment from the parents to make it happen. Our son is still sick, so the routine is a little off kilter now, but here is pretty much how every day (weekday goes)
1:30am - Feeding
5:30am - Feeding
6am-8am - when I get up to get ready for work I put him to bed with my wife...he is usually wide awake, but sometimes falls back to sleep and that way my wife can have some more shuteye.
9am - Feeding
9:30am - 12pm - play time...with my wife and/or by himself.
12pm - Feeding
12:30-1:30/2 - nap time
2-3:30 - play time
3:30 - feeding (solid foods now!) he just had his first apple and cherry - he liked it!
4-4:15 - nap time
4:15 - 5:30: high chair play time (this is when my wife cooks dinner or works)
5:45pm - we eat dinner he'll also get a few ounces of milk
6:20-7pm - we all spend time together - usually resting and playing on our bed.
7-7:45 play time with daddy (today is nap time because he is sick)
7:45 - bath time
8 - feeding
by 8:30 he is in his crib sleeping. That leaves me with bout 5 and a half hours to help around the house, cook dinner, clean, catch up on the internet, whatever...I go to sleep anytime between midnight and 1 am. Every other day I get up for the first feeding.
This might be pretty loaded, but once you do it for a few weeks, it becomes second nature. The baby likes it and it leaves us with time to actually get something done - but above all, our days are pretty predictable.
I encourage starting a routine 4-6 weeks after your kid is born.
enjoy.