May 7, 2010
Homebodies Hints: One-Income Living
Homebodies Hints: One-Income Living By Cheryl Gochnauer Cheryl@homebodies.org Copyright 2003 Holly, a SAHM from Indiana, has been an at-home parent for nine years. She has four children (ages 7, 9, 18 and 22) plus three grandsons, and is well-versed in managing a one-income budget. #147;We are considered a middle class family with an annual income of $34,000,#148; Holly says. #147;We have one auto payment and a house payment. Those are the only payments we have going out a month besides our utilities.#148; She counsels prospective at-home parents to #147;make sure all your bills are paid off before you quit your job. We had everything paid off except our house but eventually got a van because of our family size.#148; She and her husband finished paying for their van before buying him something different, so they would only have one car payment at a time. #147;We shopped around for his vehicle and feel like we made a frugal purchase.#148; Holly applies this same money-saving mindset as she gathers other things her family needs. #147;Food items are usually on sale and I cut coupons faithfully every week. Ninety-eight percent of our clothing is from garage sales or Good Will. We Christmas shop at garage sales and clearance isles. You can get like-new items for pennies on the dollar. So far no one has complained at all about our purchases. It is also a good way to spoil our grandchildren.#148; Although it#146;s important to take advantage of cost-cutting options available to families, communicating with your spouse is the key to frugal living. #147;I can't stress enough that you need to take time with your husband every day to talk to him,#148; Holly says. #147;Let him know what a great husband he is and how proud you are of him for supporting his family.#148; Comments? Write Cheryl@homebodies.org or visit the messageboards at www.homebodies.org , where you can interact with at-home parents from around the country and throughout the world. Permission granted for use on DrLaura.com.

Posted by Staff at 1:59 AM