MamasHealth.com Home Relationships and Money Divorce and your credit Financial help for health Going back to school Help! spouse was laid-off How to talk about money Husband won't go back to work Money and dating Money and love Spouse has bad credit One or two incomes? Spouse spends too much Stop fighting about money Supporting your spouse during a career change Surviving a financial crisis Wife refuses to work Women who make more than spouse Working different shifts Links Email Mama Sex and relationship advice from Madison Grey Committed couples Dealing with the in-laws Family relationships Infidelity Pre-marital sex Finding time for sex Sign up for the MamasHealth Newsletter	Supporting a family on one income Can you support a family on one income? When couples begin having children, they often think about the pros and cons of one parent staying at home with the children. If you are interested in transitioning from two incomes to one, with some careful planning and budgeting, you can pull it off. Examine your finances One of the first things you need to do is determine exactly how much money you bring in and how much money goes out the door each month. This is important to determine how much money you will need each month. Figure out what the working parent will be bringing home each month, and figure out all your expenses for the month. This will give you a base figure to work with. Figure out the money you will be able to save by having one parent stay home You will automatically save money when one parent stays home. Since the new stay home parent won't be driving as much the amount of money spent on gasoline expenses will decrease. You'll might also be eligible to get a discount on your car insurance by driving less. You also will not need to pay for daycare, work clothes for the stay at home parent. Decide what you don't need Try to find ways to decrease your monthly expenses. CAn you save money by buying a coffee machine instead of going to the local coffee shop each day? Do you have movie rental or video game subscriptions that you are willing to give up? Consider moving somewhere cheaper. Do you pay a lot for your housing? Sometimes moving a few miles outside of a metropolitan area can save you hundreds of dollars per month on housing. Tips on how to support your family on one income
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