can a family afford to live on a single income?
Page 1 of 3 123 LastLast
Results 1 to 15 of 32
  1. #1
    Registered User
    Join Date
    Jun 2008
    Posts
    34
    Post Thanks / WTG / Hug
    Rep Power
    0

    Default can a family afford to live on a single income?

    can a family afford to live on a single income?

    this post struck at my heart... please see the link below for more info. this family is trying to decide if mama can quit her job and stay at home.... can any mamas offer advice? i don't think the blogger is on this forum, so you probably want to comment directly on the blog post as well...

    http://engineeradebtfreelife.blogspo...le-income.html

  2. #2
    Registered User Momto2Boyz's Avatar
    Join Date
    Dec 2007
    Location
    DeKalb, IL
    Posts
    1,954
    Post Thanks / WTG / Hug
    Blog Entries
    108
    Rep Power
    19

    Default

    Interesting! I put in my two cents. I think he left out alot of other expenses in his summary!

    I found that once I stayed home, I was able to save money on not going out to lunch with co-workers, not picking up a morning coffee on the way to work, and I was able to cut our grocery bill in half becuase I had more time to check out sales and plan my menus out accordingly!

  3. #3
    Registered User cheapskate 49's Avatar
    Join Date
    Jul 2008
    Location
    Southern Ontario
    Posts
    285
    Post Thanks / WTG / Hug
    Rep Power
    7

    Default

    Quote Originally Posted by Momto2Boyz View Post
    Interesting! I put in my two cents. I think he left out alot of other expenses in his summary!

    I found that once I stayed home, I was able to save money on not going out to lunch with co-workers, not picking up a morning coffee on the way to work, and I was able to cut our grocery bill in half becuase I had more time to check out sales and plan my menus out accordingly!
    Excellent advice I was just thinking that when I saw your post.I worked full time for only 4 years and we spent more money on take outs and resturants in that time.

  4. #4
    Registered User
    Join Date
    Jun 2008
    Posts
    34
    Post Thanks / WTG / Hug
    Rep Power
    0

    Default

    yeah, you raise a good point. but how did you find time to cut coupons etc.? i find being at home with my LO takes almost all my time, and spare time is little to nothing!

  5. #5
    Registered User Sonnenwende's Avatar
    Join Date
    Apr 2008
    Location
    Left Coast
    Posts
    271
    Post Thanks / WTG / Hug
    Rep Power
    7

    Default

    My family is supported by my income alone. My husband makes some money, but all of it goes to supporting him having this job in the first place (daycare and gas), so it is basically zero income. For a lot of reasons, it is worth it for him to work right now. It is not about money, to be honest. It is only temporary until December.

    We only have rent, electric, water, cable/internet, and student loan as fixed monthly expenses. Health insurance is directly deducted from my paycheck. Cell phone, food, savings, blow, and auto maintenance sinking fund are varible. Whenever we need or want to do something extra, my husband sells things on eBay or Craigslist.

    I do not, by any stretch of the imagination, make a lot of money. I just know what we can afford and what we can't right now. Can't afford a car payment, can't afford a cell phone contract, can't afford full cable, can't afford a mortgage, can't afford to contribute to a non-matched 401k...etc. All cut out or has to wait.

    I agree about the food being more expensive when you work. I just don't have the energy or the patience to cook up something from scratch 80% of the time I come home or for breakfast. Usually everyone is starving and doesn't want to wait either. I am looking into getting a crockpot and seeing if that helps any. I have to say we are fairly disciplined though. Despite all the fast food tempations, we only resort to that only about once or twice a month.
    Last edited by Sonnenwende; 07-22-2008 at 04:41 PM.

  6. #6
    Rude and Vile Master Greebo's Avatar
    Join Date
    May 2008
    Location
    Baltimore, Maryland
    Age
    45
    Posts
    8,563
    Post Thanks / WTG / Hug
    Rep Power
    77

    Default

    Can a family live on a single income?

    Well it depends on the size of the family and the income of the provider.

    And whether you're able to live within your means in the first place...
    If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.

    Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"


    Greebo
    (Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
    WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!

    Three
    Two mortgages, two one no car loans, one no credit cards, and a partridge in pear tree!

  7. #7
    Registered User santoria's Avatar
    Join Date
    Jun 2004
    Location
    Calgary, Alberta, Canada
    Age
    37
    Posts
    1,034
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    Quote Originally Posted by Greebo View Post
    Can a family live on a single income?

    Well it depends on the size of the family and the income of the provider.

    And whether you're able to live within your means in the first place...
    I agree....we live on one income very comfortably. but its been a hard and bumpy trip to get it to where we need.

    have to make a VERY conscious effort to pay attention to whats coming in and what's going out.

  8. #8
    Registered User TexasPeanut's Avatar
    Join Date
    Jul 2008
    Location
    Texas
    Age
    41
    Posts
    632
    Post Thanks / WTG / Hug
    Rep Power
    11

    Default

    Quote Originally Posted by santoria View Post
    I agree....we live on one income very comfortably. but its been a hard and bumpy trip to get it to where we need.

    have to make a VERY conscious effort to pay attention to whats coming in and what's going out.
    This is my family of 3 as well. We've lived on one income for at least 11 years now. And on low income at that. We've had some hard times and some great times. We've learned to live well beneath our means. If you look around you'd think we have alot of money, but we buy used cars and pay cash for them, shop garage sales, we bought a house that was a fixer upper at a fraction of what it would normally cost, do all repairs ourselves...etc. We make do and pay attention to our needs and wants. Our needs are always taken care of first every month and then our wants. We live simple and free without stress. We live very comfortably simply because we are frugal.

  9. #9
    Moderator IntlMom's Avatar
    Join Date
    Jan 2007
    Location
    I.O.W.A.!!!!!
    Age
    44
    Posts
    3,714
    Post Thanks / WTG / Hug
    Blog Entries
    3
    Rep Power
    25

    Default

    Quote Originally Posted by Greebo View Post
    Can a family live on a single income?

    Well it depends on the size of the family and the income of the provider.

    And whether you're able to live within your means in the first place...
    my thoughts exactly.
    we live on my hubbys income alone. we have two 6 year old paid for cars, a comfortable home, we take simple vactions, BUT, we have no Rv, or boat, or "toys" like that, the kids go to public school, I clip coupons, watch sales, and reuse baggies.
    It really is a lifestyle choice for my to stay home.....

  10. #10
    Registered User Sonnenwende's Avatar
    Join Date
    Apr 2008
    Location
    Left Coast
    Posts
    271
    Post Thanks / WTG / Hug
    Rep Power
    7

    Default

    Quote Originally Posted by TexasPeanut View Post
    Our needs are always taken care of first every month and then our wants. We live simple and free without stress. We live very comfortably simply because we are frugal.
    Basically.

  11. #11
    Registered User frugalandsimple's Avatar
    Join Date
    Jan 2005
    Location
    MI
    Posts
    734
    Post Thanks / WTG / Hug
    Rep Power
    11

    Default

    Most families could afford to live on a single income if they cut out most of the "wants" in their lives and learn how to live frugally.

  12. #12
    Registered User DonnainME's Avatar
    Join Date
    May 2007
    Posts
    979
    Post Thanks / WTG / Hug
    Rep Power
    9

    Default

    I agree - if they give up or tone down their "wants" it is possible.

  13. #13
    Registered User DixieJ's Avatar
    Join Date
    Aug 2006
    Location
    In the land of cotton
    Posts
    1,935
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    Quote Originally Posted by frugalandsimple View Post
    Most families could afford to live on a single income if they cut out most of the "wants" in their lives and learn how to live frugally.
    I agree, I think most people could if they really wanted to. They might have to live in a more modest home, drive older vehicles and do without other "extras".
    Last edited by DixieJ; 07-22-2008 at 07:47 PM.
    Dixie Jean

  14. #14
    Registered User Texasgirl's Avatar
    Join Date
    Apr 2008
    Location
    Hockley, Texas
    Age
    51
    Posts
    102
    Post Thanks / WTG / Hug
    Rep Power
    8

    Default

    We live on one income and have for 10 years now. Sometimes it is hard but if your work at it you can live on one income.

  15. #15
    Registered User MoonMommy's Avatar
    Join Date
    Jul 2008
    Posts
    1,039
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    We have lived on one income for the past 6 years. It isn't always easy, but you have to learn how to avoid the money traps. You have to find ways to keep yourself and your kids busy without spending money to do it. You have to make sacrifices and not feel bad when other people have things or go on vacations and you don't. It is a change in attitude. It was tough for us at first, but as my hubby's salary has grown and I have conciously worked to lower our debt and not create more debt, our lives have gotten financially easier. As that has happened, we have stayed frugal because now it is habit. It isn't that we do without EVERYTHING, but we try to find the least expensive way to get what we need or want. We always put needs first and then decide if we can afford to satisfy our wants.

Page 1 of 3 123 LastLast

Similar Threads

  1. Replies: 7
    Last Post: 05-04-2010, 10:52 AM
  2. Making a single income work!!
    By Justanks in forum General Chat
    Replies: 20
    Last Post: 10-22-2009, 05:13 PM
  3. Single income in Japan
    By Shell in forum Stay at home moms
    Replies: 0
    Last Post: 08-08-2006, 01:41 AM
  4. Single Income Web-Site
    By Shell in forum Stay at home moms
    Replies: 2
    Last Post: 05-25-2006, 10:33 PM
  5. How your family can live on a single income
    By Sara Noel in forum Stay at home moms
    Replies: 3
    Last Post: 11-08-2005, 01:57 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •