Monday, January 11, 2010

Something big to think about...

Lately, Hubby and I have been looking at finances {as I know many people have in this tough economic time}, but for possibly a little bit of a different reason. We have been together for quite some time now, married for over a year, and we've been looking to the future. Where do we want to be? What do we want to be doing? When do we want to start a family?

And we've really began throwing around and thinking about what could be one of the biggest decisions for us, whether or not I stay at home when we start our little family (other than our adorable little kitty, of course!). It is something that has been in the back of our mind for about a year now, really something that kind of came up during the beginning of our marriage. It has just jumped a little more forward into the front of our minds. We both don't feel quite ready to have kids just yet, but it became apparent to us that we really need to start thinking and preparing if this is something we really want, and to see if it is even possible for us financially.

We already keep a budget and revamp it every month for whatever events we may have coming up in the near future, but we really needed to sit down and take a serious look at that budget. It became obvious that with the way the economy and our jobs are right now we aren't able to live on one income (Hubby's pay is all based on commission-a personal trainer-and is in a profession where people don't want to pay for those services like they used to, and my company has put forth mandatory time off-80-90% depending on how busy each group is-and since I don't have any PTO left, it is all time without pay).

So we've been doing some re-evaluating, looking to see what we can really live without for a while to save money, pay off debt, and prepare for what may come. Since we got married, we've done a few things to try and help things along, we've:
  • Gotten rid of our landline and just use cell phones
  • Blocked text messaging from our cell phones {we never used it enough to make it worth it anyways}
  • Began collecting and bringing aluminum cans in for money
  • Been sell books on Amazon
  • I have become a mystery shopper
  • We use cash-back services and point rewards systems to get gift cards and cash back
  • I have become a coupon and sales-shopping machine
  • We have just cancelled our cable
With all of this that has been put in place, we still feel like our goal is so far away. I’ve been reading blogs and articles I’ve found online that stay-at-home-moms have posted for other tips and ideas, but we feel like we’ve slightly come to a wall.

So I throw this out to you all:  

Are there any tips that you would have for a young couple preparing to live on one income one a family is started?   

Is there something in particular you wish you had known, or done, when you were getting ready for the big change?

Anything would be extremely helpful and I appreciate all of you out there in blogland that have already posted information for all of us “SAHM” hopefuls!

Thank you all in advance!!

1 comment:

  1. i can give tons of tips because this was something my husband and i wanted to do from the beginning. although were married much longer than planned before having our daughter, we always made it a point to live off of one income from the start. in other words, all of my teacher pay went straight to savings (roth's, investments, etc). we lived off of his pay during all that time and even used some of his money to pay off debt. finally when i was pregnant, we owed nobody money! yeah! we had a choice of staying home-it was a toss up of who would stay home, but i won the lucky card. many times i would grumble because i felt like i was doing alot of sacrificing for something that wasn't yet seen--years of it. while i would poor mouth, my friends would say" you've got money" but they just never got it. really. now, while they work in corp world, i am home playing and learning with my daughter. wouldn't trade it for the world.