I think most people associate less money as bad, or that being a stay at home mommy isn’t as productive as it good to be. Today I’m going to focus on telling you the benefits of living on a single income and why it works for my husband and I.
First of all, before everyone gets all up in arms, I’m not necessarily saying that both people in the couple can’t work. Right after I was married I did go back to work but we still lived solely off of my husband’s income. Why?
Well for one we knew that when we had kids that I was going to be a stay at home mommy. That’s what we both wanted and we knew that before we got married. We didn’t want to not only add the financial stress a child can add, but we also didn’t want what we spend to get cut in half. By only spending his income, we got used to not overspending our means and seeing how our budget was going to work. It is much, much harder to cut your spending later than it is to just not spend as much in the first place!
All of the money I made helped build up our savings. Because of that, we were able to buy our first home about six months after marriage! We had been working on having a down payment and the money I added to the savings made that possible. Our goal was always to purchase our own home and we are both so thankful we could do it so quickly!
Living of off a single income can also help prevent financial disaster. If all of a sudden I had gotten fired it would not have mattered, we would still be able to afford our current living situation.
There is no distinction between “my money” and “his money”. Financial issues are one of the main reasons for marital problems! We both have an understanding of how the money is spent in our home and are in agreement. Of course this can be achieved when you are spending two incomes as well, I just think it makes it easier. 🙂 The only money that’s considered “mine” or “his” is money that was gifted for a birthday or something. Then we always set it aside so we know it’s not part of our budget.
Living on a single income can actually save you lots of money. We don’t have to pay for babysitting or child care. And we don’t have to worry about who is watching him! He spends most of his time with me and if someone is watching him my mom does it. Child care is soooo expensive!!
To be honest, I think saving money and working within a budget is fun! It’s like a challenge. It doesn’t always mean you can’t have what you want, you just have to be creative with it. It also prevents you from purchasing tons of junk that is just going to clutter up your home!
These are some of the reasons my husband and I chose to live the way we do. 🙂 I just thought it would be interesting to show the benefits. I ALWAYS recommend as a mommy to be at home, just because I think it’s awesome! I love being at home with my son and I’m so thankful my husband works hard to make that possible for us. The best part is I know that that is what he wants for our family, too. 🙂
Are you working? Do you stay at home? Or are you both working but only living off of one income? Comment below and let me know your thoughts! 🙂