I'm a SAHM and for me it works. My husband takes care of all the bills and finances and he gives me money every week but if I need more I just ask and I always have the credit cards!
But even though I am dependent on him I feel independent knowing that if I had to make money I could. I have to say that being home taking care of the house and kids is harder than any job I had. But I'm happy that I'm able to be home.
BUT now that the kids are in school all day I'm seriously thinking of getting something part time for something to do and get out of the house. I was thinking of something along the lines of a personal assistant/companion for an elderly person. That seems pretty flexible. The perfect job to me would be maybe 3 days a week from 10-2 pm.