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How are you a SAHM on a budget?

Together My husband and I make about 100K, we aren't frugal by any means but don't have a ton left over each month.. I am sooo bad at budgeting but we are currently trying to sell our house and i want to be a SAHM.. he would make $70k - we live in an area where our house would be $170 / meaning $1400 a month - how can I make this work, what do you have to do to make it work? I was just watching extreme couponing and I will mention I have ADHD without the hyper which means its a total lack of connection basically.. I don't "get" how to do it.. but I really really want to stay home and raise our 3 year old and have another baby, but withouth an income or savings coming in, I couldn't convince my husnband at ALL!

 
Anonymous

Asked by Anonymous at 10:55 PM on Mar. 1, 2011 in General Parenting

This question is closed.
Answers (7)
  • I would really think you could live on 70K with a house of 170 (that's your biggest expense, right)? Have you looked at lowering credit card interest rates (this is actually a biggie). Cutting back what isn't absolutely necessary for example: economy cable, the bare bones package before you give the box back. Perhaps replace cable with Netflix. Keep just telephone-land line and internet. See www.cancelcable.com

    Really examine your phone bills for usage and what you don't need. Texting, a fancy iphone, two phones, a land line, how much long distance do you really need/use?

    Use public transportation if possible. Weigh the pros and cons of gas in the car w/ public commuting. Share a ride.

    Lower the heat in your house by two degrees and put on a sweater and turn it way down at night.

    Watch the water usage. Lights off and unplug things to lower electricity. Get energy saving bulbs if you can.

    Eat out less, shop frugally.
    jeanclaudia

    Answer by jeanclaudia at 11:08 PM on Mar. 1, 2011

  • Scrutinize all your bills and determine exactly where all your money is currently going; you'd be surprised. Make changes accordingly. It's amazing how much money you can "find". Of course, do not spend needlessly and do the common sense things (cook at home rather than go out to eat, turn off lights, reduce/conserve usage (water, electricity, gas), shop for less expensive home insurance, car insurance, etc.).

    Do you have cc debt? Get in the habit of saving for something rather than charging and thinking you'll pay for it later because, believe me, you will PAY for it later. It's not rocket science; seems $70 grand would be more than enough to live off of, even with a $1,400 mortgage.

    Anonymous

    Answer by Anonymous at 7:36 AM on Mar. 2, 2011

  • We make 48,000 a year/ or 4000 a month. Our house note alone is 1160. It is not hard to do. We do not eat out or go to movies but maybe twice a year. We have never been on a family vacation, no savings account. My kids have nice clothes, we have pets, we are just more "home" people. We have an above ground pool for the summer, swings, slides.
    MKSers

    Answer by MKSers at 11:30 PM on Mar. 1, 2011

  • It's not just about cutting coupons (which I don't do). It's a completely different mindset to living. Every time I go shopping (for food, clothes, furniture...whatever) I have to weigh needs and wants. Do we really need a lamp? No, we have other lights. Do the kids really need new shoes? Well they wore holes in the ones they have so, yes. Do we really need steak? No, we can eat hamburger. Do I really need a new shirt? Could be yes if every other thing in my closet is stained, too small or worn out or no if the kids are in desperate need of pants because every pair they own has ripped knees.
    My husband made 47k last year (by working 16 hour days/7 days a week all summer). Normally he makes around 35k and he supports a family of 7 on that. We don't have the newest of anything, shop at Goodwill and walmart. We have 1 car and don't take vacations but we live okay.
    justanotherjen

    Answer by justanotherjen at 12:48 AM on Mar. 2, 2011

  • We are a family of 5 with 4 dogs living on $48,000 per year. Mortgage is $840/month. Couponing is good IF it is products you already buy or it takes the price to $1 or less. Mostly I shop at discount groceries like Aldis & Save A Lot. I cook from scratch in batches. Freeze extras for quick meals later. I garden in the summer. Shop farmer's markets. I can & freeze anything. Make my own jams. Shop garage sales, Goodwill & Salvation Army for cloths. Last week, I got a Saks Fifth Avenue dress, new with tags ($78) for $4. I'm sure you can easily survive off of $70k. I was only making $22k when I paid off my debts & bought my house.
    motherofhope98

    Answer by motherofhope98 at 7:35 AM on Mar. 2, 2011

  • Try it for 3 months; live solely off your husband's paycheck and see if you can do it. We tried it when I first got pregnant; I was actually making about 1.5 times my husband's salary but we tried to live off his paycheck alone because I wasn't sure if I would go back to work after our child was born. I did go back to work until our child started school but we continued to live solely off one salary. It was rather easy to do; never felt like we were lacking for anything.
    Anonymous

    Answer by Anonymous at 7:50 AM on Mar. 2, 2011

  • Our house cost way more than 170K and our payment is lower than $1400 - maybe you should shop around for a better interest rate! We are a family of 7 and live on less than 100K/year. I really don't find it that difficult, and I'm not one of those extreme coupon cutters either. Maybe there are areas where you could cut your expenses? Write down everything you spend for a month and look at where the money is going.
    missanc

    Answer by missanc at 9:28 AM on Mar. 2, 2011

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