Question for the 2 income families, How much do you make as a 1 income household and how do you make it work? Any tips are helpful
I’m confused by this question
Now a days, we are two income. Back in the day we were 1 income and I can tell you, 5 people on 14-16$ didn’t work. We were on state help and I regretted that.
I am a stay at home mom because it is more cost effective than paying for daycare for us. We get by but sometimes it is a struggle
When we had more than one kid in daycare at a time we worked opposite days/shifts (worked at the same place so easy enough to do). When 3 older kids were all in school we put youngest in daycare. It took awhile to finally decide to put him in, can we cut this out, if we do overtime then we can pay for that etc. Between daycare and school lunches we pay around $1,000 a month, on top of our other bills - house, cars, groceries, etc.
We are extremely lucky to afford the things we do, and there isn’t ever any judgment when we hear someone saying on person stays home with kids. Being parents to young kids is EXPENSIVE!
I think it all depends on the lifestyle you want to live.
The way that is worded is confusing…
Im slightly confused by the question, so I’m going to answer based on what I think your asking We were a 1 income family for about 3 years when my husband and I moved in together. It made absolutely no sense for me to go to work and pay someone to watch my children. During those few years and actually a lot of it has carried over to a household with 2 incomes +, Which we are now
We budget our monthly bills, we meal plan/prep (breakfast, lunches, dinners, and snacks). We grocery shop once a week and shop the sales. We limit eating out to once, bi weekly. We cut our Statlite services (we just have internet), we adjusted our mobile phone plans. We do not drive new vehicles- we do not have vehicle payments and I think this is a HUGE factor for most families. We look for cheap/free entertainment for weekends/holidays. We don’t buy for the sake of buying and we are very real with our kids about finances and the cost of life.
We make a combined $165,000. He works M-F 8a-5p. I work 3 12s (7a-7p) a week. All of our kids are school aged. Our youngest goes to daycare and it’s only part time after school care until my husband gets off. It’s really cheap at only $225 a semester.
… I mean I think your finances are your business but here’s my thought.
If you want to live lavish and have the new shiny things, you gotta have the income to cover it.
If you’re satisfied with the lifestyle that the 1 income can provide then consider it.
But you gotta do you
We have one income of about 100k year. If I work part time I make about 30k. We have ten people in our family