Comments on: 5 Ways to Survive on One Income

By: Leigh

Leigh — Fri, 25 Feb 2011 06:00:26 +0000

Good tips and yes, it is possible. My husband only earns $22,000 and we live quite well on one income. Of course, we don’t have any debt like credit cards or loans.

@Ronnie – you don’t need to buys books (just borrow them from the library) and I bet your grandmother has an old sewing machine she doesn’t use anymore. That is where I got mine along with tons of fabric she had stored in her linen closet.

By: RonnieC

RonnieC — Mon, 18 Oct 2010 17:20:50 +0000

I disagree with the person above that said that there was no need for a budget. If you are making enough then that can be the case, but it is a different philosophy than just buying on the cheap.

I notice that in our consumer culture, the first response from most people when told they are going to go on a financial diet is to go buy as many books on the subject, buy a sewing machine, or buy whatever they think will help them “save.” Its ingrained in America that “buying” is somehow “doing.” I have found incredible power in simply NOT SPENDING.

Although my wife & are both working and bring in about $250k, we are preparing to go the one-income route. I calculated our new grocery budget at $170/wk. When it is MY week to buy groceries, we come in at or under budget. When it is HER week, we average $225. That is the difference between having a budget (“I am not going to spend more than $170″) and NOT having a budget (“Look at all the money I “saved” by using coupons and buying sale items”.) The fact is, there are always things on sale and there are always coupons available. Use them, but DON’T OVERBUY AND BLOW YOUR BUDGET. I have never seen a week where my wife comes in UNDER budget by $50 to compensate for the weeks where she is OVER budget by $50.

By: Monique Rowe

Monique Rowe — Wed, 04 Nov 2009 04:57:06 +0000

Book is done…also have the web site- we try to live on one income- it’s tought for sure, but can be done.

By: Monique Rowe

Monique Rowe — Sun, 02 Aug 2009 20:23:54 +0000

I am writing a book on one income living families or singles and would love to hear from anyone interested in having their say – looking for half to full page write ups and your name is witheld on request. If you have a related web site, it can be listed in the book.
Thank you. I do look forward to your emails.
leo7@sasktel.net

By: foreclosurefish

foreclosurefish — Mon, 21 Apr 2008 15:56:23 +0000

Great post, surviving and prospering with just one income is quite possible. Sometimes, it’s probably preferable, depending on the family conditions.

Financing a life of debt, huge houses, larger cars, and impulse purchases is not quite possible with just one income, of course, but you’re spot-on discussing having to sacrifice some things. Budgeting and taking up the deals that other profligate spenders pass up definitely help avoid the credit traps.

And downsizing seems to be one of those taboo words in American culture right now, what with larger SUVs, larger fast food meals, bigger box stores, and so on. But cutting expenses is one of the easiest ways to live happily with less.

By: Momma

Momma — Mon, 21 Apr 2008 15:04:23 +0000

Great tips! I’m always amazed at how much we can tighten our belts when we need to. Of course, when we don’t need to is when we slip.

By: Jenny

Jenny — Wed, 16 Apr 2008 17:15:48 +0000

My husband made me wait until all of our credit card/student loan debts/car loans were paid off before I could get pregnant. We spent the first fours years of our marriage working and buying small things here and there ( a piece of real furniture- a vacation- a starter home) and the rest went to debt payments. I’m so glad he had that much foresight and patience with me. Now that I have my children and I’m not going to a 8-5 job- I’m so glad we had those early years to enjoy each other, mature, and become more financially stable. We’re both naturally thrifty so we haven’t felt the need to budget for everything. But, with the economy going the way it is I feel the urge to really tighten the belt.

By: The Happy Housewife

The Happy Housewife — Tue, 08 Apr 2008 02:24:21 +0000

Great post… I have always been a SAM but there were some lean years. We lived with one car, no tv, and no meals out for over a year, until my husband was promoted and received a raise. It can be done!
Toni

By: Katie

Katie — Sun, 06 Apr 2008 16:41:54 +0000

I love this post. My husband and I too are on a budget! Althought it was tough at first, we are loving it now! We know where all of our money goes! What a concept!

By: Kyle

Kyle — Fri, 04 Apr 2008 06:09:51 +0000

Brip Blap, Good point on the importance of buying sensibly. That is great that it works for you that way. The power of the budget for us is the way it shows us visually money in, money out. We know where it is ALL going and brings up red flags on things we can cut back on or eliminate, and what we should have left over at the end of the month.

By: Aaron Stroud

Aaron Stroud — Thu, 03 Apr 2008 05:02:08 +0000

Sticking to one vehicle is working well for us. Our only debt is student loans, consolidated at a rate approximating inflation and a reasonable mortgage.

And once our mortgage is eliminated, we’ll be able to cut back even further, leaving even more time for the kids.

By: Brip Blap

Brip Blap — Thu, 03 Apr 2008 03:22:55 +0000

We switched to one income a few years ago, too, and I think the key is preparing ahead of time for the switch. I still wear my corporate uniform of Ralph Lauren shirts, but I buy them from Marshalls, not Macys or Nordstroms.

I am not a big fan of budgeting, though. I think buying sensibly doesn’t really require a budget. I buy instant coffee instead of Starbucks, but we don’t have a coffee budget (since I can drink 120 cups for $5). We buy items on sale at the supermarket, etc.

Great list! Too many people think having a one-income family is impossible and it is not – it is very, very possible, you just have to decide whether you have the discipline for it before you do it!