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When I quit my school administrator job, Andrew – my husband – and I had to start living on less. We needed to figure out how to live on one income. Here I’m going to outline some of the steps we have taken to get by on less, many of which you will be able to do as well!
Make More Money
Currently I sell on a website called Teachers Pay Teachers, I do virtual assistant work for other bloggers (learn more here), I help people live healthier chemical free lives, I run this blog and my teaching blog, and I teach college courses online. (Ready to start a blog? I love this book!)Now you might think that sounds like a lot, but my total work time a week is roughly 25 hours. That still gives me plenty of time to spend with the little one who is the reason I am home in the first place! While I’m not making a ton of money from home – the money I do make has been more than enough to pay for mine and little man’s health insurance each month. This gives us a little wiggle room in our budget.
Budget & Look at Your Spending
While our budget is not iron-clad, we know what we have and where it is going each month. We’ve read Dave Ramsey’s book Total Money Makeover. It’s a great way to get started with paying off debt (which is our next point) and he’ll help you step-by-step along the journey to financial independence – no matter where you’re at right now!
Learn to Say No
Get Rid of Debt
Live Within Your Means
Quit trying to keep up with the Joneses. You should not need to look at others for your happiness. Make yourself happy! Find things you enjoy. Is it really that new pair of shoes, that brand new car, and those designer clothes? For me – it’s my husband, son, family, friends, the memories I’ve made with all of them, and a few small possessions. I don’t need “things” to make me happy – so I can live with what we currently have.Those are the six ways we that have worked best for us when determining how to live on one income. We hope they are helpful to you as well!