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Is it possible to be a one income family?

Posted by on Jun. 10, 2011 at 1:52 PM
  • 7 Replies

 

If you're not a one income family, would you want to be? Would it ever be a reality?

Is it possible to be a one income family?

http://finance.yahoo.com/family-home/article/110988/how-to-become-a-one-income-family?mod=family-love_money

It's no myth: More couples than ever are relying on two incomes to get by.

According to the Families and Work Institute in New York, 79 percent of today's married couples have both people in the work force, up from 66 percent in 1977.


But at some point, life happens — you start a family, go back to school or face a layoff — and this new reality may force you and your partner to question whether you're ready to jump off of the dual-earner treadmill.

While there are steep odds to overcome, living with only one family income can be done with thorough planning and a willingness to make choices.

by on Jun. 10, 2011 at 1:52 PM
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Replies (1-7):
aneela
by on Jun. 10, 2011 at 2:07 PM

I think you can if you know how to budget and shop wisely and be good stewards of your money. Course not everyone is and sometimes tragic things happen to upset that.


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amonkeymom
by Member on Jun. 10, 2011 at 4:43 PM

Of course it is!  I'm a one income family right now (single mom with 2 kids still at home).  Is it easy?  Not always, but it can be done.

Liansmommie
by on Jun. 10, 2011 at 4:48 PM

It's not easy and  not often preferable but under the right circumstances it is possible.

NearSeattleMom
by Member on Jun. 10, 2011 at 5:30 PM

It is possible but not for every family.  There are so many variables . . . is the family willing to be very frugal?  Does the breadwinner have a substantial income?

carolina_gal
by Member on Jun. 11, 2011 at 5:54 PM

 I agree.  I think famlies want so much "stuff" these days.

Cable, cell phones, internet, etc.

Quoting NearSeattleMom:

It is possible but not for every family.  There are so many variables . . . is the family willing to be very frugal?  Does the breadwinner have a substantial income?

 


LivinDeadGurl
by Maranda on Jul. 1, 2011 at 11:39 AM

We have been one for quite some time now. It isn't easy, but it is totally doable.

lenoxclan
by on Jul. 1, 2011 at 11:53 AM

We are a one income family and will be until all the kids are in school full time.. We are getting by on our own:)

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