I know there are a ton of posts and articles about living on one income after you have a baby. I’ve seen them on Pinterest and I’ve never read any of them. My family has been living and relying on one income for almost 11 years. When I quit my job after I had my first son, I didn’t even have a computer! Right before the baby was born we went out and had a really nice dinner. It was $100! I was so sad after that because I thought we would never have enough money to eat out again! I was so worried that we wouldn’t be able to make it work.
When my husband and I got married we talked about how we wanted our future to look like and we both wanted me to stay home with the kids. My parents live 5 hours away and my in-laws live over 8 hours so we decided that I would stay home. We didn’t have anyone nearby to help. If we had a sick kid in daycare one of use would have to take off work. If you and your husband aren’t both on board with the same plan, it will be very hard to make it happen.
Here are a few things that we did to make this plan work.
- We had a savings account for emergencies.
- We never charged anything on the credit cards that we couldn’t pay off.
- We lived by a really strict budget the first 6 months after the baby was born, so we wouldn’t get off to a bad start. I missed a good friends wedding that was out of town because we couldn’t afford to go and I didn’t want to go in debt 3 months after the baby was born.
- We lived below our means. We bought our house before we even thought about having kids. We made sure that we could pay the mortgage with just my husband’s salary.
- Since I didn’t work, I spent a lot of time saving money with coupons and sales.
- Vacations were spent visiting family.
- We used the envelope system. This may or may not work for you.
I plan to go into details in the next few months on how we saved and prepared, but today is the general plan we used. If you want to be a stay at home parent, you can make it work. It takes lots of planning and organizing, but you can make it work.
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