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Is it possible to be a one income family?

Anonymous
Posted by Anonymous
  • 36 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.

Posted by Anonymous on Jun. 28, 2013 at 4:30 PM
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Replies (1-10):
justins_momm292
by on Jun. 28, 2013 at 4:40 PM
1 mom liked this

 I think yes.  It just take a little tweakig with the budget.

dayskitty
by Member on Jun. 28, 2013 at 4:46 PM

We did it,but was a long time ago.My kids are 38,36,30,30..I had 2 kids when DH and I met and got married,then had twins.He wanted me to be able to be home with them when they were little..But when they all were in school I watched other kids at my house for extra money,and could still be there for mine when they got home.

EireLass
by Ruby Member on Jun. 28, 2013 at 4:46 PM

Yes. My daughter-in-law is a stay-at-home Mom with the 2 kids.

If my daughter and her husband decide to have children, she will stop working.

Of course they've both have great careers, and have already tested the one salary prior to having to. And they are willing to live where they can afford to be a 1-income family.

Anonymous
by Anonymous - Original Poster on Jun. 28, 2013 at 5:07 PM

We could not be.   We both work to pay the bills, not to buy boats and fancy trips.

lacyd75
by on Jun. 28, 2013 at 8:15 PM
2 moms liked this

 We are a one income family. If needed i would go back to work. SO really likes it for me to be home and  be able to attend dd school functions and volunteer at school. (which is something I missed out on with ds from working all the time) At this point I can be. We don't live outside our means or anything. We don't rely on pa or anything. I've always worked and I do miss it sometimes though.

Anonymous
by Anonymous on Jun. 28, 2013 at 8:50 PM

Yes, you just need to have your priorities straight and buy what is in your means. No people do  not need to have that $30,000 car, or that $400,000 house.

la_bella_vita
by Bella on Jun. 28, 2013 at 9:02 PM
1 mom liked this

 We are a one income family. I'm blessed my husband was able to obtain a well paying job.

RADmomma
by on Jun. 28, 2013 at 9:16 PM
1 mom liked this
We're a 4 person family with one income. We have been a one income family since I got laid off 6 years ago while pregnant with our first child.

It takes budgeting, living within your means & going without certain things. But me being home with our girls means more to my family than the things we go without.

We don't eat out, go to the movies or buy unneeded things. We also don't have cable. But we do movie night from redbox or Netflix. We spend time outside doing free things as a family... We do spend some money on entertainment but I budget that in & compare prices.

With saving & budgeting... We took dd to Disney for a week for her 4th bday & well go again next year as well.

It's not easy & it's not for everyone but with a little work... It is doable!
1RockinMommy
by on Jun. 28, 2013 at 10:34 PM

We are an almost family of 6 and have been a one income family since before our oldest was born. We definitely do things on a budget and can't always afford to go off to the beach or go to the movies but our kids enjoy having us at home(my husband is a work from home web-developer). My husband and I don't smoke and rarely drink though and I'm not one to go get my hair done constantly nor do I get my nails done. I'm not that type of girl though so it's not really something I'm doing without. Doing things yourself definitely helps with budgeting. We have a couple of laying hens that give us all the eggs we need each week and we have a massive garden that gives us the majority of the veggies we need. We don't eat out much at all and we make most of our meals from scratch so ingredients we buy go further than using boxed dinners. It works for us. I'm hoping to start a business soon though. It will be from home though so I can still spend time with my kids.

---terrah---
by on Jun. 28, 2013 at 10:41 PM

Yes, it's possible...at least for us. We are a one income family by choice. I decided to quit my job and stay home after my first DS was born. It's not easy and we do without a lot of extras...no cable, cell phones, vacations etc. But we have what we need and a few things that we want. Once our babies are older, I'll get back into the workforce.

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