If money is a large part of reason, I will aruge that not working will give you a bigger net gain.
My wife quited her job when our kids were in elementary school. She will take kids to different lessons, go different parks etc. The end results are that both my kids participated in many extra activities. When they get into HS, they automatically got themself involved in many activities. An at home mom could be a taxi driver for them to expand their reach.
If you work, your EFC is likely higher. If you spend more time push your kids, they "might" get better GPA/scores etc. They will have a lot of E/C to put in their applications. How many years you will have to work to equal a 100% full ride in the like of Duke or WashU? At the same time, how much less headach and pressure you could avoid?