Can you Live on ONE INCOME??

I don't think it would be possible in our family. I have done it before with my exhusband and it is very difficult. I would rather have the stress of work than financial stress. To me that is one of the hardest stresses to live with.

With me financial problem is the big problem.I cannot manage with one income.In some means rising prises of everything it's Ok .But when we are in need of much money than usual sometimes how we can manage.It is a problem with little children,both the parents are working.But in our present situation we cannot mange with one person income.

I think you can easily live off of one income and pay off debt at the same time. Just the one income has to be a decent one.

I also don't own a credit card because I know it would be my biggest temptation in life. Sometimes it's hard for me to save money from my income because I'm not that cautious about the way I spend on some unnecessary things. I'm planning to have a business soon, even a small one, I know it would take a lot if risks but I really have to take things one step at a time.

I think it's really tough no matter how hard u try u to make things meet.i help my family out alot and sometimes it just not enough,i wish u lot of luck.

I live with my sister, her husband and 2 kids, me and her husband had been working at jobs untill march when he lost his job because of a back inury and now I have to pay for everything and it is hard and I mean real hard and there still isn't enough money to pay everything. I'm lucky if I hae anything left by time the bills are paid, nd with the gas prices going up every week I had to take on two riders so we could split the gas cost three ways so that's not too bad butwith everything going up it is hard to live on just one paycheck. That is why I have been looking for a online job I can do in my spare time tha I can make a little extra money to help out.

i think it depends on the couple. they should check first the bills that they pay monthly. then decide if they can survive in just one income. if not, it's always better to stick to two income. you are right, it's always better to have some money left for emergency purposes. but i understand you. you want to be with your kid until she grows up. that's really nice and thoughtful of you. and as you say, you are surviving for it doesn't make much of a difference at all for you. as of now, it's just my boyfriend working and i am going to school. but somehow, we're able to save some money and enjoy life at it's best even if we're not that rich. anne

Hi Sangs, this time only my husband is working and we were able to manage so far, but, I wanted to find a job since it will be better to have extra income, I also don't have a valid reason t just stay in the house since we have no kids and I also love to have enough savings!

i believe that people get set into a way of life that 2 incomes provide, then when one income is taken away, that is when the stress starts, trying to make ends meet to cover the bills that one income is trying to do now. Ut us hard to keep up with one income being gone, and easy to fall behind. Seems even with 2 incomes it is hard to put away anything for an emergency, at least at our house it was and we both had really good jobs, but along with the second income I think we live a little higher than we would with one. That is when the credit cards and finances become a problem when that second income is taken away.

My family shifted from two incomes to one when I went back to school. We're doing fine though, even though I'm not working we've still managed to pay all our bills and on occasion have some extra play money on the side to go to movies, out to dinner or just do something random. Granted there are months that things are tighter than others, but a lot of that has to do with if my husband had to take off work anytime during that pay period.

Until recently we had three incomes. I had to leave a job as a personal care attendant and while I'm working on a free lance career it is more or less two incomes until I get established. My son is also looking for a job. I think it depends on your circumstances. We are trying to buy a house so the more income the better.

I think it's possible for a family to make do on one income but they certainly won't have any extras! Things are so expensive and children are even more so with all they need, not counting what they want.

We have lived on one income for the last 9 years! We have four children and I stay at home to look after them and take care of their needs and hubby goes out to work. We have had some real hard times living on one income and there was never any spare money, we have had loans and credit cards and it has just been a nightmare. Over the years we have slowly climbed out of the credit pit and the only debts we have are a bit left on a catalogue and the mortgage. We made the decision NEVER to have loans, credit cards or catalogues ever again, we would only buy what we could afford even if it takes years to save for it. Through being strict and getting rid of those debts we are now starting to see more wage left over at the end of each month which we can put away it is hard but we are managing!

Well earning extra money is not bad but if one job can handle every expenses and a little pleasure that would be enough. But always remember an emergency will always hit you no matter what you do. If that one job can handle everything then its fine. More time can be given to your family and more time to rest.

We live in only one income myhusband is the only one who works I was working for awhile but I was paying more in daycare costs then I was making. My husband works enough hours that he actually makes an income of what two people bring in.

The first time my ex and I had one income was when our son was 3 years old and my ex had a stroke. (He was 59 and 24 years older than me.) It was a slight one, the "warning" stroke, but he never worked a full time job again after that and hardly ever part time. He was too young for regular Social Security and refused to think about disability. Still we did fine. When my son and I left his dad, he was 13. His dad never paid a nickel of child support. Even so, we were able to live an even better life than some of his friends with parents who both worked. How? #1 - I had no credit cards. If we wanted something, we had to save up for it. (Which means ultimately that we know the exact cost. With credit cards, you can end up paying 2 or 3 times what the actual cost was...once you add the interest and if you're making payments, not paying off each month). #2 - We ate out 2 times a month and went to the movies once a month. In between, we rented videos. Or watched those we picked up cheaply. #3 - We shopped at thrift stores a bunch. #4 - I didn't have a car payment. And at our apartment, all of the utilities and cable were all included in the rent. My son really didn't know how poor we were until he was about 14, I think. (Although he did know that my sister and her family had so much more than we did. He just figured they were rich and we were normal.) Over the years, I've instructed a few women - the ones who hated being away from their children and wanted to be home - about how to figure out what it COSTS you to work. Most women are surprised. In one case, the woman's take home pay was $1800 a month. When we figured it all out, listing all the costs of her working (lunches,gas, dry cleaning for her suits, day care for toddlers and after school care), she only contributed a total of $200 a month to the family. Her hubby was able to make up more than that in overtime, plus she learned to be more frugal with meals, and then never missed having her income. Perhaps most cases aren't that extreme. But it's always worth finding out, if the mom (or even dad) would be happier staying home.

I think it is possible to go from two incomes down to one, even with the rising prices. It doesn't matter how much money you are bringing in or how much money you aren't bringing in, there will always be ways you can cut back costs and save here and there. I'm pregnant right now and plan on staying at home with my baby after she is born even though people keep telling us that it is impossible to do these days. Yes, it will be hard at times, but you can always find a way to manage your finances and cut back.

Well in my experience it was very hard when you lose one source of income. I remember the times when my mother was the only one working and she has to manage her salary among us her 5 children, her husband and her mother. SO in order to make ends meet, she had to work even on weekends. Thank God now three of us her children are already working and our life is actually better and so far we are able to cope up with rising prices. Since I said that I'm working right now, I also try to get other sources of income so that I have at least something for myself in the future. Also I try not to apply for a credit card because in my opinion it only encourages us to spend more of what we actually earn therefore we will have debts. Although it's convenient I don't want to risk debts since I don't earn that much yet.