Raising family on One Income

My husband and I just sat down and discussed this. We weighted out the option of me going back to work full time because it would be nice to have a 2nd vehicle. we just paid off the one we have, but struggled the past year that I have not worked. We drew up the budget now.. and drew up the budget figuring after school care, new truck payment, insurance. It is the same amt of money left over that we have now..... we decided it wasn't worth having a 2nd veh right now for me to be working and not home with our daughter. Not to mention because of all my medical problems and hers, I would end up getting fired in a few months.. so we would be stuck again.

i agree. its hard but possible...my family isn't the sucess story yet...but hopfully we can make it to where you're at. we decided early on that i would stay home. with only a HS degree and little work experiance, i wouldn't be able to make much. so my husband is the one who works...when we first moved in together, neither of us had a job. i was looking and so was he, we had no car and we were living with my sister. i was also pregnant and found it hard because not much people wanted to hire someone who was pregnant because they would have to leave when having the baby. i did manage to get a holiday job at a department store, but after the holidays, it was over. my husband struggled as a door to door salesman for a while, he didn't bring in any income and we were living off my college fund that my mother had set up for me. we could have made better decisions, but my husband liked to go out a lot. after our 1st son was born he lost his job. so we had to get a used car so he could go looking for another job. thats when he began installing...which he's still doing now. now we're renting our own place, we have 2 children and we still strugging...my husband had a lot of debt coming into the relationship, so that all caught up with us. every time we caught up, something else happend that would take us into more debt...my husband needed a dental opperation, the car brakes down...stuff like that. we managed to keep our kids fead, although not always the healthest things. right now we can't get any government help because my husband makes a lot, but we have a lot of bills to pay. which is why places like this are a blessing to me because i can earn something...i mean, from the money i make online with these type of things i could probably buy groceries for my family...that would help alot because my husband can consentrate on paying the bills with his paycheck. i know we haven't made the best desisions, but i think we'll be able to pull ahead someday...soon i hope =)

I agree it can be done but many people don't want to give up the luxuries they have and many people actually see those luxuries as necessities. I have been a stay at home mom since before my oldest was born (I quit working when I was 4 months pregnant with her). It has been hard. We lived with family the first 5 years of her life. Now we rent an apartment and are on our own. We only have one car and it is a beater. We can't afford to go on vacations or do fun stuff around town. We can only do free things, like going to the park or for walks in the woods. We do have a lot of debt because my husband barely makes enough to pay our already crazy credit card bills. But we have to eat. We could never afford for me to work. The cost of 3 kids in day care full time and one in after school care would probably eat all of my earnings. The one major sacrifice we had to make was moving out of Chicago. We couldn't even afford rent for a 2 bedroom apartment there and we had 3 kids at the time. We now live in a cheaper city but we are 500 miles from my family and 800 miles from my husband's family. It is hard but we make it through somehow.

I agree with you. We also have had the discussion, and if I went back to work, we would probably be in negative figures. I have four children and have stayed at home since our oldest (turned 14 on Tuesday) was born. I don't think I would even consider going to work even when the kids are in high school. That is when they really need to come home to Mom or Dad, not an empty, unsupervised house. I don't plan to work for many more years even though sometimes we struggle a little with money. We will make do if it means our girls are happy and healthy.

Yep we're still alive with 2 kids on only one income lol however when the kids start school I will be going back to work, it will definetly make things alot easier and ontop of that I'd get so bored sittig at home all day by myself hahaha

My mother stayed at home, and my father worked. Sure they had to go without some fancy things to be able to do so - but they did it. I can't thank them enough for it! I want to stay home with my children when I have them. It definately can be done!

My wife and I managed it for about 3 years. However, when we decided to buy a house, we realized we would never be able to budget it on my income alone and she started working part-time.

I think living on one income is possible, but like you say you have to be able to make discissions and know what to buy and what not, and keep your eyes open for supplemental income opportunities. I live at home at the time being, and me and my boyfriend are starting to look for a home of ourselves. I have a higher education than my boyfriend has, and so I am paid more than he gets. If we ever have children we decided my boyfriend would stay home with the kids (he would like that and judging on income it would be better) and I would like to make a carreer. We can make it with my income, but as we are still both young and not into having kids we will work both for the time being and safe up some money :)

I agree with you. I think it's completely possible for MOST (maybe not ALL) families to be raised in single income homes. I think most people are just too greedy and want this and that and want it NOW, so both parents end up working so that they can do that. My older sister's a fine example. If they stayed in their first house, I think they would've been fine with just one income. As long as they didn't buy two brand new cars within the span of two years or so. I think my sister's just greedy and wants all these nice things. They're ALWAYS buying something new and I've gotten so sick of her complaining about having no money.

I have been a stay at home mom for 5 years now, and have 4 children, who receive daily.....LOVE,CARING,RESPECT, AND MY TIME. I used to work before I was married and then on and off when the kids were littlier, but not having a parent at home was an issue. My children are very well behaved (LOL..most of the time!!), and because I cant buy them and I-pod, or a computer, or even the latest trendy clothes or shoes......they aren't suffering....the ultimate goal is I dont want a daycare or someone else raising my kids, so I can spoil them with things they dont really need! My kids complain all the time that so and so has a Nintendo Ds, or an XBOX 360...blah blah blah...but when that so and so gets home from school....(or they dont go home and go to daycare).....who is there to help them with their homework, listen to their troubles, and teach them things as I do? My children are always learning new things that I teach them...(i.e.), cooking, baking, crafts, inventive games, various things on a daily basis.....I wouldn't have the proper time to spend with them if I worked....although me working would help our financial situation which is way below what you and your husband have accomplished thus far....we aren't able to pay bills on time most of the time.....dont have a new car....(have an old broke down mini-van), we accept hand-me down clothes from friends/family....and have even used a food bank or too along the way.......but my kids are better people I believe because I am there for them, and I think that is more important than all the frilly stuff...... I think when children reach the age of teenagers then both parents working could be worked out more easily........babies and children need attention, that I dont think they receive in daycare (atleast not any of the ones I've been to), and that attention can only come from a parent or maybe another close family member such as a grandparent,aunt/uncle who love them undonditionally. When I did work full time M-f and every other Saturday.....my mother watched them and that was the 3rd best beside their father for their care and raising them. My oldest is 14 and why he could babysit while I work.....why should he be made to grow up faster with responsibilities that are mine and my husbands in my view to tend to. It is hard and a struggle for us, but neither of us have a college education (BIG MISTAKE ON OUR PART IN MY EYES) and therefore dont make as much as others, and we struggle daily because of this.......but again I think that raising my children is the job GOD gave me and thats what I'm going to do until it's time for them to branch out and allow me to work...DAY CARE IS SO OVERPRICED.....I WOULD NEVER CHARGE WHAT THEY DO....AND THEY DONT GIVE NEER ENOUGH TIME AND ATTENTION THAT CHILDREN SO NEED GROWING UP. My two younger children are so better off because I am home with them, as opposed to my two older ones who didn't have me at home because we both worked. My mom was a stay at home mom, because my father made enough that she never had to work.....we never received frivolous things...BUT OUR BASIC NEEDS WERE ALWAYS MET....granted I have to tell my kids "No" alot because we cant afford it.....but I stand firm that one parent at home is a better situation for kids in the long run. We as a family have helped each other out, by learning to conserve, instead of renting movies, we get them "free" from the library, and we dont pay for overpriced cable....we have regular antenna tv.....which we turn off and read a book together, play cards, play a board game, make a craft, or we all pitch in and make dinner, lunch, we garden together, do outside activities, etc. and we spend time together, which someday I will be so thankful that I was able to spend time with them....when I'm old and they dont have the time to spend with me because they are working.

Good for you! You should be really proud for doing what you are doing. My wife says home and raises the kids and I think that is worth much more than what she could bring in with a full time job. I wish that I had your frugleness for unescessary spending. Good job, keep up the good work.

Well it's tough in this world to live on one income unless one of you is making tonnes of money which most dont. But I will only work part time and supplemental income.. I refuse to work full time as a mother, my job as a mother is hard enough and there is only so much I can do. I guess you can live on one income but be prepared to not have too many luxuries. It all depends on what you want. If you don't want to scrape by, then you need to have 2 incomes.

My wife and I are in this boat right now. We own a home that we can't afford on my income alone. She's 3 months pregnant and we're looking for ways to supplement our income. She's resigned that we're going to need to sell our house and buy a smaller cheaper place. My thinking is that we should sell only as a last resort. If we found a way to bring in 1/3 of my wifes current income then we'd make it. I'll keep looking, I have 6 months!

I have been a SAHM for almost 8 years now. We have 2 daughters who are in 2nd grade & Kindergarten. We will have baby #3 any day now. We do own a house. We have some credit card debt, that is because DH is a diabetic & has had health problems. Me being home has saved the money it would have cost us to send them to day care.

I agree with you...it is possible. My boyfriend and I have done it for many years. It has been difficult at times...and we have not always had what we wanted...but we have always paid our bills and had food on the table. I felt it was better that I stay home with my son...now he is teenager...and I am able to focus on my writing...and I am actually making a little money...my boyfriend now has a higher paying job..and my son even has found a little work..so things are looking up...but it can be a struggle....but you have to work together and do the best you can....

I am a stay at home mom too, it is a decision my hubby and I made together. I did go back to work for a short time after my son was born, but we didn't feel comfortable with daycare and I came back home to be with him. I agree with you, it isn't always easy, sometimes you just can't afford to do everything you want, but with careful planning and a good budget, you can always do what you need to do and save up for the extra things you want on the side. I also agree, it is more worth it in te long run to make such an important decision.

You are absolutely right. It is entirely possible to live on one income. You may have to cut corners and budget your money, but in the end it is totally worth it. Being frugal with clothing and food and housing never hurt anyone. It would be nice to get this message out, so that the adults of tomorrow will be well rounded and not think that everything should be handed to them on a silver platter.

I have done it both ways. I used to work outside the home and my husband and I made a good income. However, I got sick and had to quit my job, then when I got better and went back to work, my custodial grandson got sick and I had to quit to stay home with him and homeschool him. It is definitely easier with two incomes, but very doable on just one. The rewards of being a stay home Mom more than compensate for the extra income. I do supplement our income on what I make online from home, but it is not a lot.

I total agree with you I am a stay at home mom we have 2 boys 15 and 13 My husband is a boss for a contruction company we have our own home 2 vehicles and in the winter when we get snow he will get laid off which mean he get only 1/2 of want he normally makes and yes times are tough but we get though it. So I total agree with you if you want to live a life style that you need to be better or want more, more and more then yes both might have to work.But when my kids look back they can stay my mom was always there when I needed here. There dad does work allot of hour so he is not home allot that is why we feel the need for me to be here.I wish my mom would have been home she alway worked allot but she still was a great mom.

It is somehow neccessary for both husband and wife working to maintance the standard of living in most family nowaday. Whether you like it or not, many have no choice! Well, if you still stick to one income, you shall be more knowledgeable than others. Why? Because you need to be very well in family finance control.