Two incomes down to one
January 31, 2008
My wife and I are going to try and experiment. We’re going to go from two incomes down to one without quitting a job. We’re going to put all the money from my wife’s job into our savings and see how long we can do that without touching it. Sounds easy, huh? We’ll see.
Why this change? Well, we had a baby a couple weeks back and have been living off one income (mine) for now, and you know what…life wasn’t that bad. We’re obviously going to have to budget and spend a little cheaper, but I think we can do.
Either way I’ll keep all of you informed as to how it goes.
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Total Money Makeover by Dave Ramsey
A must read for anyone who is looking for some 'average Joe' money advice. Stay tuned for my diary of The Total Money Makeover.
you can do it. it might be tight, but it will be worth it.
The only thing that I believe you would need to budget more for is gas and daycare. Everything else should be a wash. Whether she is at home or at work. Just make sure that she doesn’t spend extra money on eating out. That will kill you everytime.