Down to One Income? It’s Not the End of the World
Down to One Income? It’s Not the End of the World Down to One Income? It’s Not the End of the World If you purchased your home as a two-income family, the prospect of living on only one income can be daunting if not downright scary. But don’t despair if a sudden job loss, a new baby, or some other life circumstance is putting you in that position. Take a deep breath, take some time to consider, and review these tips from Parents Magazine: Cut back – This may seem elementary, but many couples who have been living with spare cash may not have a clue where to start. Begin by keeping a written account of one month’s spending. Then study it to identify areas – like entertainment, cable costs, or eating out – where you can easily rein in your spend. What you should be left with is a working budget. Stick to it. Cut your grocery bill – You don’t have to go on a starvation diet. But cut out expensive convenience foods in favor of cooking or baking. Make your own baby food. Look for sal...