Mom Life

Confessions of a Stay at Home Mom: Surviving on One Income {+ a Book Review}

 

*This post contains affiliate links. 

In some ways it seems like just yesterday (and in other ways it feels like ages ago) when I became a stay at home mom. It was right after my second daughter was born. I had been working as a teacher’s aide, trying to work my way up to a full time elementary teaching position {which was difficult to come by in that area at the time}. With two littles now, I would have spent nearly my entire paycheck solely on childcare.

After discussing our situation, my husband and I decided I would stay home and take care of our two little girls. That was 8 years ago. We were a family of four, with TWO in diapers, living on a youth minister’s salary. I wish I would have found a book like Erin Odum’s back then! Erin wrote You Can Stay Home With Your Kids, which releases this week!

 

Erin and I have very similar stories! We both have three beautiful girls, and God recently surprised both of us with a baby boy! Her little guy was born not long before mine. Just like me, Erin knows all too well the desire to stay home and raise your children, while carrying the financial burden of living on one income.

Her new book You Can Stay Home With Your Kids offers practical tips you can begin to implement today to start saving money. She also offers some great ideas for making extra income from home. If you are contemplating becoming a stay at home mom, or are already staying home and looking for ways to curb spending and stress less, Erin shares 100 practical ideas to help you make it work on one income!

Here are my top 5 ideas for spending less from Erin’s book that have helped our family live on one income:

  1. Meal Plan– I recently wrote a post about the importance of meal planning. I wish I could go back and teach twenty-something me how to save money by meal planning. It’s crazy to think back on how much money we could have saved by wasting less food and eating out less often. You can get started today by using my free meal planning printable. We now plan our meals in advance, and I shop for two weeks at a time. We eat out much less than we used to, and we waste far less food.
  2. Facebook Groups-I joined all the area Buy, Sell, Trade groups on Facebook, and started looking for deals. I quickly learned that buying quality second hand clothes was definitely possible from Facebook resale groups.  I was also able to make money by selling things we no longer needed as well.  Listing items individually is so much easier than having a whole big yard sale! I highly recommend checking out these resale groups in your area!
  3. Cancel Unnecessary Subscriptions-When we went down to one income, we looked at our current budget to see where our money was going. We quickly realized that we were spending unnecessary money on entertainment that we weren’t using. We cancelled our cable subscription and switched to using Hulu and Netflix. We found that we could get all local channels using our digital antennae, and we could stream any shows we wanted to see using Hulu. Most companies bundle internet, cable, and phone service. Since we don’t use a landline, we now only pay for internet services. Look at your budget, and be sure you aren’t paying for things you don’t need!
  4. Take a Financial Planning Class-We thought we knew everything we needed to know about budgeting, saving, and spending. We took Financial Peace University by Dave Ramsey, and realized we had so much more yet to learn. Taking this course helped us get on the same page with our budget and encouraged us in ways we didn’t even realize we needed to be encouraged. I highly recommend finding a Financial Peace University course in your area. It’s definitely worth the investment!
  5. Make a Side Income from Home-I’ve learned that it’s easy to contribute to the family finances while staying home with my kids. I’ve sold crafts like wreaths and signs, baked goods like cookies and cinnamon rolls, and I’ve started this blog with the hopes that I will eventually be able to make a part time income while staying home with my little guy. Consider any hobbies that you have that could be turned into a side hustle. With a little creative thinking, you could help contribute to your family’s income while staying home and taking care of your family.

Regardless of what season of life you’re in, if you’re looking for ways to be more responsible with your family’s finances, You Can Stay Home with Your Kids will help you come up with some great ideas to benefit your family.


Preorder Erin’s book today to receive all the amazing freebies

{including a free e-book, bath bombs, fudge, and more!} 

After you’ve ordered the book, you can click here and scroll to the bottom of the page to claim all your freebies! Monday (4.9.18)  is the LAST day to pre-order…so don’t wait!

 

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