Tips for transitioning from two to one income. I am often asked how we were able to afford me leaving my career to stay home with my son. I can honestly say through sacrifice and by living by a detailed budget.
Tips for transitioning from two to one income:
Pre-child we were both employed and didn't really have a budget. We were able to save because we didn't have the expenses of a child and international adoption however, we also spent frivolously on things such as dining out, entertainment, travel and shopping.
I broke the news to my husband right before we brought my son home from Guatemala. He was shocked as I was very career driven. I had worked hard to build a successful Family and Consumer Science program and FCCLA chapter. However, the first time I held my son I knew that I would not be able to leave him in day care. It was the best decision for me to leave my career because I knew how I would resent my career if I didn't. So, with that being said, we created a very strict family budget and made some major life changes.
You can read the posts here on how to create a family budget part 1 and part 2. We made major sacrifices. I started coloring my own hair, using coupons and meal planning. We stopped going out to eat and really tightened our budget. In 2008 things were really tight with the economy. Grocery prices and gas prices were inflated, and my husband was stressed. He confessed to me that even though we were living by the budget that with the inflation that I may have to find a part time job. That is when I started Stockpiling.
If you want to stay at home, have a job loss or need additional income I encourage you to start strategically using coupons and build a stockpile. It has made a major difference in our lives. People often ask me how I have the time to use coupons and build my stockpile, my question in return is how do I not have the time? I strategically use coupons and stockpile for one reason - my son!