How to become a one-income family | FamilyNews.com

The Family News Take - As a parent, staying at home and tending children has its advantages. However, it also brings a few negative consequences as well. One large problem many families face with a stay-at-home parent is living off a single income. When a family has two incomes, there is money to spend on frivolous and entertaining items. However, when one income is all that is available, it requires careful planning to ensure there is plenty of money to cover all expenses.?

It is becoming a popular idea to have a parent stay at home and tend to household duties. According to this article, the number of stay-at-home moms has held constant at 5 million over the past few years, while the number of stay-at-home dads is 176,000. Parents want to be near their children. They want to experience those precious moments in their children?s lives and as these statistics prove, many are willing to sacrifice a little extra income to have these opportunities.?

This article gives advice on how families can manage living off a single family income and things to think about before making this drastic lifestyle change.

Via Time, by Suzanna De Baca ? When I was growing up, stay-at-home moms were the norm, and many American household budgets were based on one income. A lot has changed since then, but there are still many parents who choose to leave their job and stay at home with the kids. And, of course, in many families it?s less of a choice than a necessity when someone gets laid off or child-care costs become too steep.

While the number of stay-at-home moms has been holding relatively steady in recent years, at approximately 5 million, the number of stay-at-home dads who managed the household last year while their wives worked was estimated to be 176,000. This may seem a small number in comparison, but it?s more than doubled over the last decade.

Continue reading Stay-at-Home Parents: Six Money Secrets for Families Shifting to One Income in Time.

Source: http://familynews.com/how-to-become-a-one-income-family/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-become-a-one-income-family

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