How My Family Adjusted to Living on Just My Husband’s Income

By Kim of Reboryn.blogspot.com

In July 2008, during the recession, I was laid off from the company where I’d put in 4 years as a travel consultant. I was pregnant with our second child, and our first was in daycare. I had mixed emotions about being laid off, and remaining in the sales industry became more and more undesirable. I constantly mulled over the question, “How is a woman able to successfully fulfill her duties as a wife and mother if she is employed full time outside the home?” Despite these feelings, the reality at the time was that one income was not sufficient to meet all of our needs (especially since we were living on the East Coast). We were buried in school loans, car loans, credit card debt…HECK!!!!!! We needed two incomes to pay bills and put food in the house.

I immediately applied for unemployment and received checks that were almost $300 less than when I was employed. I was still applying for other jobs but either there was a hiring freeze or no one was willing to pay me at my previous rate. I collected unemployment while my husband continued to work his full time job, which was a blessing. But unemployment does not last forever. I received unemployment benefits for a total of two years. While our income decreased, our family grew with two additional children.

Something had to change!  But going back to work was no longer an option as I realized that whatever income I brought in would be used almost exclusively for child care. It just did not make sense. Hubby and I really had to pray and ask the Lord to give us specific direction regarding managing our finances with limited income. We had support from family and friends and are grateful to this day for everything the Lord placed on their heart to give. But ultimately it was imperative for us to discover how to survive on one income. After much prayer, this was our strategy…

1. The first step was cutting up all (I mean all) CREDIT CARDS! If we did not have the cash to BUY it, we did not NEED it! Talk about pouting! Your girl was going through it (LOL). Try to pay off the smallest credit card balances and work your way up to the larger balances. Also try to work out something with creditors to lower your original payments. The key is communication. Of course companies want as much money as possible, but ultimately they will take what you have. There will be many uncomfortable conversations, numerous phone calls; but again, communication with your credit companies is key.

2. Second, we had to cut down on unnecessary luxuries. Cable was the first one to go. We went from having all the channels to about 20 channels. Talk about basic! That was back then, now we have no cable at all. For those who are addicted to television, this would be very discouraging and a difficult change to make. We have never been avid TV watchers, so for us it was an easy transition. Because we prefer documentaries, we began to utilize Netflix, as well as Redbox. For only $8 a month (internet required) you have a great variety of documentaries and educational and Biblical programs for children. An internet streaming DVD player or Roku player allows access to programs people pay top-dollar a month to watch. Again, it all depends on what you want and need. We know people who pay over $100 a month for television yet complain about insufficient income to pay bills. CUT THE CORD! BE YE SET FREE FROM THE BOX! (LOL). You can also apply these reductions to mobile phone expenses. Again, it’s about having those serious and honest conversations about what you really need. Do you need UNLIMITED EVERYTHING? Is having a smart-phone with all the bells and whistles more important than groceries? We save a lot of money by reducing our mobile phone plans, as well as the devices themselves.

3. Third, dining out had to be reduced. This was not difficult because my husband is a great cook If you do like to go out, search for restaurants that allow kids to eat for FREE. Here in Portland, every Tuesday our local Applebee’s offers entire kid meals for only $.99 each! The meals include drinks, a fruit or veggie and entree. Rick and I choose our meals from the 2 for $20 which comes with an appetizer to share with an entree. If you do the math, for a family of 6 we spend $25 at the most.  Also, kids eat free at IHOP from 4 to 9 pm.  Take advantage of these restaurants because you save big time and won’t feel guilty for spending a day out with the family.

Meal planning is also important. Rick and I make our grocery list according to the meals we plan for the week, and we stick to it as much as possible. We don’t just throw anything in the cart. Coupons are a big help too. If it’s on sale and you have a valid coupon, USE IT! So worth it. Make meals that are going to last for 2 to 3 days. Our favorites are pasta dishes, beef stews, and whole chicken dinners that can be sliced and diced up for creative meals.

4. Fourth don’t be afraid to buy and sell at thrift, consignment, or Goodwill stores. If you find a good one in the neighborhood stick with them and learn when they put items out at the start of the season. I am also a strong believer in getting rid of items you don’t use or need anymore. I always check first to see if someone needs it, but if they don’t then I go to a consignment store to sell my items and get money back to either shop in their store or put back in my pocket. You can’t lose by doing this. Thrift stores are also great when you have kids. They grow so fast so you’ll find yourself constantly buying clothes. Not to sound like your girl but, “Ain’t nobody got time for that!” If I do shop at a regular retail store, my first stop is the clearance section. If that does not work then I go to a thrift store and look for quality used items that still look brand new but won’t hurt my pockets. Even the Mr. and I are not afraid to shop at a thrift store. We save big time by not trying to keep up with the latest trends!

5. Fifth save whatever loose money you have, no matter how little. Five dollars doesn’t seem like much, but it can add up if you are buying coffee every morning and lunch every day. If it’s not a need, stop spending money on it and save it! Make your coffee/teas and lunch at home and bring it to work or when you’re out on the road with the kids.  Also if you are on a family outing bring snacks instead of stopping at a fast food restaurant. Every time you think about spending five dollars ask yourself, “can I make this at home” or “do I really need this?” If the answer is no, take what you would have spent the money on and put it in a savings account.

These five tips have been a life saver. I can honestly say we have seen a major shift, but we are still learning every day how to save and are taking one day at a time. Be encouraged!!!

Ladies, have you tried any of these tips? What would you add to the list? How do you save money in your household?

Kim is the author of Reboryn where she discovers what it means to be a woman of GOD, wife, mother, daughter, sister, friend and entrepreneur.