Is it Possible to Live on One Income?
So many wonder how it is possible to live off of only one income. It is hard. Not impossible, not easy (for us, at least!) but it can be done. These are just a few of the things that we have done to make it possible for me to stay home with our boys (something we decided even before we were married that I would do).
Saving Money on Utilities
You can call your cell phone provider and have them re-evaluate your usage to make certain you are getting the best deal possible. When you call to cancel some services (say, digital cable) often they will offer you a no-obligation special (ie: 3 months at a discounted price) – depending on your financial situation (how much you need to cut back) this could be an option. Our family only uses cell phones – no land lines, but if your family needs the option of a land line, consider bundling the services (cable, internet and phone).
One interesting thing I recently learned about was ‘off-peak hours’ for water/electricity. I found out that it was substantially cheaper to do laundry/run the dishwasher after 9pm at night and on certain holidays! Try googling your utilities company and ‘off-peak hours’ or calling to see if and what these times and rates are.
Another great way to cut back on electricity – line dry clothes! If this is not an option, consider doing your laundry all in one day, one load after another – your clothes will dry faster if the dryer is already hot and ready to dry.
Saving Money on Food
Meal planning. Meal planning. Oh, and meal planning! This has been one of our biggest money savers. Before meal planning, I would go into the store and get what looked good. This would result in multiple trips to the grocery store each week to get food for all our meals. Having our meals planned (usually) keeps us from eating out at restaurants as well. One thing I would like to implement soon is a master list of the grocery items (including pantry, freezer, refrigerator, paper goods, baby items, etc…) and have this placed on the refrigerator – when an item is running low (or we run out!) it could be circled on the list, making grocery list making easier.
Some people swear by sites like The Grocery Game to help them match up coupons and sales to get items for next to nothing! (Even free!) We attempted this, but I didn’t seem to do very well! There are many bloggers out there who share great deals at their local grocery stores, as well.
Saving Money on Entertainment
Every SAHM needs to get out of the house! Many museums offer free admission. During the summer, some movie theaters offer special showings geared towards children – including discounted prices, earlier times and other moms and children (ie: noise! So it is OK if your child talks … or cries! during the entire showing! Chances are, you are not alone!) Of course, there are always playgrounds (a great, free way to meet other SAHMs, as well!), libraries usually have free story times for children of all ages – many bookstores also have this!
Other Ways To Cut Back (or even Bring In!)
With two in diapers, we have saved the most money, by far, switching to cloth diapers. Before our second son was born, we only bought 2 packs (not boxes!) of diapers from January to August! We are slowly working towards cloth wipes as well (that has been a much harder switch for me!)
You can experiment with container gardening to save on fruits and vegetables.
Many SAHMs do something on the side to bring in extra income and the possibilities are endless! You could open an in-home child care (be sure to check with your state laws on this), open up an Etsy store with your homemade wares, buy and sell on eBay.com, be a virtual assistant…anything you can think up!
There are many ways to make being a SAHM possible, just remember that it will usually mean sacrificing in some other areas.
*A side note, these are merely ideas our family has tried or have considered implementing. There are many, many more ways to make being a SAHM possible for your family!
by Terra Jones
