Comments on: Can You Survive As A One Income Family?

By: Good Reads: Celebrating The 4th : Domestic Cents

Good Reads: Celebrating The 4th : Domestic Cents — Fri, 03 Jul 2009 10:20:13 +0000

[...] Can You Survive As A One Income Family? from The Wisdom Journal [...]

By: Nicki at Domestic Cents

Nicki at Domestic Cents — Wed, 01 Jul 2009 01:18:33 +0000

We’ve been doing it for a year and a half and I can testify that you’ve got some good advice here

By: Bill in NC

Bill in NC — Sat, 20 Jun 2009 21:09:35 +0000

Please consider having the “non-working” spouse work enough to keep their Social Security eligibility for those in the U.S.

That requires 2 credits out of the 4 possible in a year.

In 2009, $1,090 of earned income earns one credit.

It would have helped our family immensely had my stay at home mother had enough credits to qualify for SS disability (a big benefit is that one is eligible for Medicare within 24 months after becoming disabled) during her lengthy terminal illness (diagnosed in her 50s, dead at 64)

By: Sharon

Sharon — Fri, 19 Jun 2009 01:52:49 +0000

Good advice across the board.

I think that most people can “survive” on one income, it’s just really hard to make the choices that let us do it. It’s a challenge to change our mindset about what is “necessary” for survival! Thankfully, we’ve been able to do it and while things are tight, the rewards are innumerable.

Thanks again for the good reminders.

By: Moneymonk

Moneymonk — Thu, 18 Jun 2009 15:50:32 +0000

We live on one income, however, we did not have to move to a smaller place. We just don’t incur debt.

Mortgage, utilities and insurance are the main expenses.

We also are able to take a vacation every year.

By: Weekly Roundup: Sink Or Swim Edition | Start Living Frugal

Weekly Roundup: Sink Or Swim Edition | Start Living Frugal — Thu, 18 Jun 2009 13:01:18 +0000

[...] Can You Survive As a One Income Family? Yes, we’ve been doing it for over ten years now. But living on one income is not easy, and it requires a tremendous sacrifice. (@ The Wisdom Journal) [...]

By: Weekly Roundup: Sink Or Swim Edition | Frugal Dad

Weekly Roundup: Sink Or Swim Edition | Frugal Dad — Thu, 18 Jun 2009 10:00:41 +0000

By: Melissa

Melissa — Wed, 17 Jun 2009 21:43:44 +0000

Thanks for the great advice. We have been living on one income for a year and just this morning I was looking at the budget and wondering how we’re going to make ends meet this month without dipping into the savings. There are so many things that we have put off thinking about, like insurance and retirement savings and estate planning.

From a female’s perspective, saving for retirement on a single income is a concern. Years off work to raise a family means very little retirement savings (superannuation is compulsory here for workers – paid by the employer, but historically at the expense of higher wages) and with the divorce rate at nearly 50% this just one of the financial matters that women need to consider.

Thanks again for your timely article.

By: Angie

Angie — Wed, 17 Jun 2009 19:56:18 +0000

Excellent advice and yes it can be done. We went from two to one income for the same reasons. I was a latchkey kid and got into all sorts of trouble because of it.