can a family afford to live on a single income?

**thecowgirl** · 07-22-2008, 02:03 PM

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

**Momto2Boyz** · 07-22-2008, 02:15 PM

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!

**cheapskate 49** · 07-22-2008, 02:26 PM

Originally Posted by Momto2Boyz

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.

**thecowgirl** · 07-22-2008, 03:01 PM

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!

**Sonnenwende** · 07-22-2008, 03:37 PM

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.

**Greebo** · 07-22-2008, 03:52 PM

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...

**santoria** · 07-22-2008, 04:20 PM

Originally Posted by Greebo

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.

**TexasPeanut** · 07-22-2008, 04:38 PM

Originally Posted by santoria

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.

**IntlMom** · 07-22-2008, 04:44 PM

Originally Posted by Greebo

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.....

**Sonnenwende** · 07-22-2008, 04:57 PM

Originally Posted by TexasPeanut

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.

**frugalandsimple** · 07-22-2008, 05:24 PM

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.

**DonnainME** · 07-22-2008, 06:39 PM

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

**DixieJ** · 07-22-2008, 06:47 PM

Originally Posted by frugalandsimple

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".

**Texasgirl** · 07-22-2008, 08:01 PM

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.

**MoonMommy** · 07-22-2008, 09:31 PM

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.