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Forum: Financial Planning and Budgeting

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  #1  
February 13th, 2011, 10:47 AM
Mega Super Mommy
Join Date: Nov 2009
Posts: 1,519
Hi Ladies.

I am new here I have decided to quit my beyond stressful job. DH isn't exactly supportive. His is very worried about us financially. I am as well but decided the benefits out weigh the negatives.

Has anyone here gone from two incomes to just one and have any advice?
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  #2  
February 14th, 2011, 08:51 AM
luvmygirls333's Avatar Super Mommy
Join Date: Jul 2009
Posts: 623
Check out the Frugal Mommies board! Try to get into couponing and look for sales. Also, be sure to make a budget and STICK to it. You will have to cut out most or all of your extras (eating out, going places that charge admission, etc) but if you feel that being a SAHM is more important than those things, you can definitely make it work!
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  #3  
February 14th, 2011, 12:26 PM
mommy2Breana+Brandon's Avatar Platinum Supermommy
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  #4  
June 17th, 2011, 08:19 PM
JessP's Avatar Lovin life and family
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How is it going since you quit your job? Have you been able to save money and stick to your budget?
We did the single income thing for a bit but ultimately DH had to go back to work. We just had to much debt . I hope it is working great for you. Let us know when you have time.
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  #5  
June 17th, 2011, 11:05 PM
Mega Super Mommy
Join Date: Nov 2009
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I didn't end up quitting but thanks for asking. I am a teacher and now I am off for the summer. I am going to be at a new school next year so we will see how it goes.
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  #6  
June 18th, 2011, 07:15 AM
JessP's Avatar Lovin life and family
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Oh I hope it goes well for you. Sorry you weren't able to be a stay at home mom. Let us know if you ever need help with your budget or pop in if you wanna help .
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  #7  
June 18th, 2011, 09:57 AM
starrsgirl's Avatar Mega Super Mommy
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Location: Nebraska
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Hey! (I'm new to this board too and your post captured my attention.)

We just recently (6 months ago) went from 2 incomes down to 1 so I could be a SAHM. It was a tough decision. I also made a little more than my DH so we would be losing more than 50% of our income.

Well, 6 months later, I'm happy to report that we are more financially secure than we were before. In the last 6 months, we eliminated our consumer debt and put way more in savings than before!!!!!

It's crazy what you can do when you put your mind to it!

For us, we had to really examine our income and see where our money was going. We found HUGE amounts of money going to eating out and also "random internet purchases" (ie Amazon and stuff). We also started buying exclusively used stuff for our baby....all used toys and clothes. We dropped our cable bill down a lot. We raised the rent on our rental property. We said NO to "big purchases" that we were thinking about buying.

I would say the biggest thing that helped us was signing up for Mint.com...an online financial tracking thing. We linked every single account/asset into Mint. And we both have full access to it....that way, DH and I keep each other accountable too.

It was not always easy, but I'm really proud of us as a family.

I should mention, that the very first step that I did before I quit my job was to sit down and figure out the budget on paper so I could show DH that it would work without my income.
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  #8  
June 18th, 2011, 10:19 AM
JessP's Avatar Lovin life and family
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That is great Liz thanks for sharing. It helps to see how others have done it and made it work.
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