{UPDATE: We are now a family of five, but the principles are still the same.}
I consider it a blessing to be able to have the option to stay at home with our children. I know that it’s not always a possibility for families, so I’m thankful that it is a choice for us. Also, I must acknowledge that many people have helped us along the way to make it so we are even in the position to make this work.
With all that said, here are the high level ways that we are able to make this work for us. Here goes!
1. We bought a house based on one income
Before kids were even on our radar, we purchased a house that we could afford based on one income. I knew I wanted to stay at home eventually. We did not want our mortgage payment to be the main reason I would not be able to do so.
From what I’ve been told, banks would not lend money for a mortgage if the payment would be more than 25% of one’s monthly income. I’m not sure if that is a fact, but it certainly makes sense to me. Our payment was more than this when we bought our first home, but I’m so thankful that our recent move (2 years ago) has allowed us to get to that percentage.
Our home is small (1500 square feet) and we are constantly adding to our home project list, but it’s within our means. If we had bought a house based on both of our incomes, then we would have been forced sell eventually or else we’d be looking at foreclosure. My heart goes out to those who are in tough situations like that. It must be so stressful to live in a home you can’t afford.
2. We do not have debt (except for our mortgage)
I’ve written about our journey to debt-free living before. I am not a fan of owing people money. I never have liked it.
At this point, debt isn’t even an option for us. We couldn’t afford a car payment even if we wanted one – which we definitely don’t! I’m so thankful that we took care of all that before we got to a place where monthly payments were no longer possible. We got serious (and passionate) about paying off the debt we did have before our income was cut in half.
What this does mean is that we drive old cars, we don’t make a habit of charging things {we pay them off if we do charge things}, and we have an emergency fund to tap into so we don’t have to accrue debt in emergency situations.
3. We live on a strict budget
Before I quit work, we had a very loose budget. Now, loose budgets aren’t an option. I sit down each month and input Kev’s income as well as all the monthly bills and my allotments for the remaining budget categories into our budget spreadsheet. It’s nothing fancy, but it’s where we decide where our money will go for the month.
After I prepare the budget, we sit down to discuss it and make sure we are both on the same page. We tweak it as necessary until we are both satisfied and in agreement. It gives us a both an opportunity to know exactly what the month will look like for us financially.
We’ve also started our weekly budget check-in meetings, which have been a huge help in keeping us on track as the month unfolds. We can also troubleshoot as the month unfolds rather than wonder what went wrong at the end of the month. Sometimes our meetings are really short, but they are still a nice way to keep communicating about how things are going.
4. We shop strategically
Since money is pretty tight, we have to be strategic about what we buy. Whether it be for groceries, household items, or clothes, I use coupons as much as possible and try to stick to buying things that are on sale based on my weekly menu plan.
I certainly haven’t mastered the art of couponing, but I have been shocked at how much I can save by just planning shopping trips in advance, building a stockpile, and by playing the drugstore game.
5. We have old stuff and are not afraid to buy used
If we can’t find a great deal on something new, then we typically have to buy used. I have been a fan of Craigslist for quite a while {even before I quit work} and much of our furnishings came from there. We also have a lot of old furniture as well. Kev and I are sleeping on my childhood full-size bed and Savannah’s “new” twin bed came from my grandmother’s house before she passed away a couple of years ago. My dad painted it for us and she LOVES it!
I am also becoming more and more familiar with thrift stores, yard sales, buying consignment, and trying to repair things we have rather than automatically replacing them with new items.
Don’t get me wrong, we do buy some things new, but we just have to either plan for it or make sure we find great deals!
6. We do whatever we can to bring in extra income
Kev has done all sorts of things to try and bring in extra income. He’s worked summer school, an extra class during the year, athletic events, mowed yards, as well as other part-time jobs. Currently, his main source of extra income is a part-time job and his service in the National Guard. I’m so thankful to have a husband who is willing to work extra jobs to make this work for us.
Although I’m not doing it currently, in the past I have babysat for children and done some painting to earn some extra income. My kids alone keep me pretty busy, but I’m always on the lookout for ways to help. Once this baby comes and we get into a new routine, I’d like to investigate some more options in the short term.
I’ve been dabbling in selling things on eBay and sold some of our items recently at a consignment sale, but those aren’t really dependable sources of income at this point.
This blog is a very small source of income, which I’m hoping will grow over time. I love blogging and I’d love for it to help bless my family financially down the road!! If you like what you read, please tell your friends about me! 🙂
7. We have stayed committed to tithing
When we have really tight months, it has been tempting to give up tithing. God has laid tithing on our hearts and I believe that He has blessed that commitment. There have been months when we weren’t quite certain how we’d make it work. As tight as our budget it, there have been times when the numbers didn’t looks good on paper. But, just like Jesus multiplied the fish and the loaves, God always seems to make it work somehow. I can’t explain it other than to say that God has blessed our efforts to be obedient to tithing.
We have times when we are frustrated and find ourselves complaining. I’d be lying if I didn’t have times when I griped about how underpaid teachers are, but it’s pointless. My husband loves his job and I want him to be able to do it regardless of the pay. Rather than complain, we’ve decided to focus on making it work instead! We are blessed and so thankful for my husband’s teacher’s salary. There are many throughout the world who are not so fortunate.
We live on one income as well. I wish we were better about a budget but we do watch what we spend. We moved just before my second child so that our house payment would be lower. We went years without car payments but when I was pregnant with our fist child I had to get a different car and then when that was paid off my husbands truck died so he needed something. Both of our old cars where the ones we bought just out of high school and had a few hundred miles on them, so I think we did well but the timing for needing something new was not great. Anyways thanks for sharing your story. I plan on coming back to check out your links to how you are doing this soon. Pinned and shared.
Thanks for sharing! Hopefully it was helpful! 🙂
I just discovered this blog! We also live on one income–my husband’s teacher salary. We are a family of four, with another on the way. I couldn’t agree more about the importance of tithing. We pay 10% each month to the Lord, plus extra for those in need in our congregation. I truly attribute our ability to ‘make it work’ to our efforts to put God first. We have been so richly blessed! We don’t have a lot of extra, but we have no debt, we are blessed to be able to serve, and we even travel quite often on fun road trips. It doesn’t make sense on paper, but the Lord has helped us in more ways than we could on our own. Thanks for your blog! I am so glad to see we are not the only teacher-families out there trying to make it work!
Ariel, it sounds like our experience is so similar! I echo every one of your comments – God has been so good to us and given us plenty more than we need, even if it doesn’t always feel like it in the moment. I hope this pregnancy is going well for you so far!! So exciting! –Sarah 🙂