Getting out of debt when you are living off one income could be a stressful thought. Not to worry, there are small strategies you can follow that will allow you to figure out a game plan on how to get out of debt on one income without totally going crazy. This budget
Do you ever find that some people are just more content being stuck in a hole because climbing out of it will require too much work? Getting out of debt is the perfect example. Being in debt can feel like being in a big, giant hole and the toughest part is, you put yourself there. It was probably super easy to dig the hole, but I think you should know getting out will be hard. It will be hard, but it will be worth it and it will remind you never to dig that hole again. Another worry people gravitate toward when paying off debt is that they won’t be able to because they only have one steady income. If this is a concern of yours, then make sure you keep reading about the crazy things we did to get out of debt while living on one income!
The idea of living on one income can be a scary thought for most couples. When you have two able-bodied people, it can be tough to see any positive side to not having two steady streams of income. Considering that 71% of all workers in the United States say they are in debt, it’s no surprise that one income families are seen less and less. More often than not, people are just working to support their bad spending habits. Even in two-income households, a whopping 78% of workers say they are still living paycheck to paycheck. But there is some light at the end of the tunnel. Having been a stay at home mom for over 10 years, there are some major benefits to living on one income that I would love to share with you. Particularly living on one income when you’re paying off debt.
I’m going to get really honest with you; I did not want to be a stay at home mom. It was a thought that never had crossed my mind. My mom always worked. Sometimes from home, but mostly, I grew up in daycares. No, I don’t have major memories of horror stories or feelings of being neglected by my parents. That’s not why I decided to be a stay at home mom. In fact, it all happened very quickly. My previous step dad was stopping in for a quick visit. I say previous because at one point my mom had been married to him. They were married through my whole childhood, really. Then the family I had known was completely ripped away. The good days. Days of family dinners, outdoor sports and Sundays with extended family. So when he stood in my home and told me he believes children benefit highly from stay at home parenting, I took it very seriously. At that point, I had graduated with my graphic design degree and had been hunting for jobs hoping to work for at least a year before starting a family. His advice change all of that. Being a stay at home mom was my new plan. Financially, I knew it would be a challenge but I had no idea the other challenges it would present. This post is about surviving SAHM status. Mentally and financially.