June 13

Part 2–How to Survive on One Paycheck–1950’s Style

Ready to take the next step to being a stay-at-home mom or spouse living on one income? Here is Part 2–How to Survive on One Paycheck–1950’s Style

Or maybe you already have gone from two incomes to one due to layoff or illness?  Either way, the idea of living on one paycheck can be daunting.  For the purposes of this article I am going to assume that the decision has already been made, one way or another, that this is going to be the case, and you just need to know What now?  If you’ve read Part One, we’re ready to move on.

First, take a deep breath.   Yes it’s scary, but it’s really not as bad as you think.  People all around the world find themselves making this transition every day, and they survive and often thrive!   Obviously, if you aren’t thrust into being a one-income family due to job loss, illness, or injury, it’s easier because you can plan for the transition.   So let’s talk about that first.


1. When possible, plan for the transition to one income.  Ideally you will have time to plan ahead and if so, there are things you can and should do before leaving your job.  First, talk to you financial planner and tax professional.  Tell them your goals and ask them the best way possible to make the transition.  Second, start living on one income immediately and use the second income in whatever way your financial planner suggests.  That may be to pay off debt.  It may be to invest and build up an emergency fund.  It may be some other option.  Only you and your planner will know that answer.  Make a plan and stick to it.


The remainder of this list applies to all families who are making the transition, be it planned or otherwise.

2. Know your “Why”.  You have to not only know why you are making this change, you have to believe to the level of conviction in the reasons why you are making this change.  It is those reasons that you are going to think about when you are having a tough moment.  Your Why will get you through.   Some common reasons are:

1.  You want to raise your own children (or be there to help with grandchildren).   There is much debate about whether putting children into daycare at a young age is harmful or beneficial, but you don’t want to take any chances.  You want to be the one to witness all of your children’s “firsts” and you want to be the one imprinting strong life values into their little brains.

2.  You want and need to be home to care for a sick or aging parent or relative.   Their quality of life is paramount, and you want to wait as long as possible before you have to place your loved one into an institutional setting.

3.  You or your spouse has suffered illness or injury and you must make this change.   On the list of life’s most stressful events, this is up there with death of a spouse.

4.  You or your spouse are starting your own business, and it will take time to turn a profit.

5.   You and your spouse have decided to live traditional gender roles, or you’ve decided to reduce your impact on the environment, or any other values-associated reason.

Whatever your reason, you must frame it in your mind in such a way that the importance of it is greater than your desire to run from the challenges of living on one income.

3. Learn to live without comparing yourself to the Joneses.   You will need to learn how to be content with less.  You will need to learn not to compare your home, clothing, cars, vacations, meals, and anything else to anyone else’s.   But don’t worry.   You will soon discover that less really is more.   When you remove the stress and chaos of trying to keep up with the Joneses in the first place, you may discover that you find joy standing in its place.

4. Understand that you aren’t really losing an entire income.   You never really had that full income in the first place.   Who had it?   Travel costs (bus, car, fuel, tolls), daycare costs and “guilt gift” costs (those toys and treats you buy because you feel bad that you aren’t there all the time), career-related wardrobe and dry cleaning, the daily coffee on the way to work, purchased take-out lunches, the afternoon vending machine pick me up, outside gym costs, higher grocery-related costs (because you don’t have time to cook from scratch), convenience take out dinner costs (because you’re too tired to cook), parking fees, higher insurance (due to mileage to work), health-related costs (due to exposure to more illnesses), landscaping company fees (because you never had time to do it yourself), the dog groomers, and so on.   All of this and we haven’t even discussed the fact that a second income may even be taxed at a higher tax bracket than you realize.

When it comes down to it, there are a number of different statistics but just the expenses related to having any job can account for up to 30% of your income, not including daycare and all of the other extra convenience expenses you accrue along the way.  Add those in and you are likely spending upwards of 50% of your income just to maintain your job–before the additional tax exposure due to a second income.

The savings associated with one spouse staying home doesn’t stop at these either.   Often the expenses related to the remaining working spouse reduce because there is someone home to make that morning coffee, prepare and pack their lunch, clean and iron their clothes rather than send them out for dry cleaning each time.   Even simple things like eliminating late fees because someone had the time to pay attention can add up.

As you can see, the impact on your family is not going to be as dramatic as you expect.   Plus there are ways to save money that we haven’t even begun to discuss.

Now don’t miss Part 3–Money Saving Ideas   or Part 4—15 Ways to Earn Money from Home

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June 12

How to Survive on One Paycheck–1950’s style

(Note!  This Part 1 is for women who want to live like a 1950’s housewife. Meaning you want to live in a male-lead home.  If that’s not you and you are just looking for tips to surviving on one paycheck, skip to Part 2.) How to Survive on One Paycheck–1950’s style

If you want to live like a 1950s housewife, where you stay at home keeping house and tending the kids while your husband goes to work, you can. To be able to live and survive on one pay check is possible.  Today we are going to talk about the two big things you must do first to make it possible. Tomorrow we’ll get to all the little details of the “step by step.” But you must be able to do these two first before any of the rest can succeed. First and foremost is that you have to hand over care of the finances to your husband. Why? First, because if he is going to be solely responsible for bringing in enough money to pay all the expenses and keep a roof over your heads, he needs to see first hand where the family finances stand on a weekly basis. He needs to pay the bills. He needs to budget for the groceries. He needs to see it and experience it so that he knows if he is doing enough.

If you are controlling everything and paying all the bills, and you tell him there isn’t enough money, it is possible he will suspect that you aren’t spending wisely. He may even think that you are stashing money and not telling him. He sees plenty coming in, and he will believe there is plenty to cover everything. He will likely get angry, dig in and refuse to make changes. But if he is doing the finances himself, he will know.

The second reason you need to turn over the finances to your husband is because if you want to live the life of a 1950’s housewife, you have to live all of it. It doesn’t work half way. If you want to live the gender role of a traditional woman, you have to let your man be the man. You have to step back and let him lead his home, and doing the finances is a huge part of that.

Back before the introduction of feminism, this is how it worked, and men woke every day with just a few things on their minds. After they got that first one out of the way, <wink> his focus shifted to his duty to provide for his family. It has been a man’s instinct to think this way for thousands of years. It’s only been since the 1970s that gender roles became foggy, but rest assured, his instincts to lead and provide are still strong. He is just waiting to take the reins.

Before you start to back-peddle, let me add this. You have nothing to fear. Just as it was back then, it is the same now. A man not only feels compelled to provide, but he feels compelled to keep his family in the highest social status that he can afford. (The man with the most toys wins!) He will keep you in the very best house that he can afford. He will want to insure that his wife looks as pretty and is wearing the best fashions as he can afford. He will insure that his children are dressed as well as and can participate in as many sports and activities that he can afford. He is not going to short change you or his kids. Why? Because it’s his instinct.

One of the things I was most shocked to learn about is the secret life of men. Secret to women, that is. It’s a brutal, stressful world that they live in—far worse than anything a woman can imagine, simply because our brains and our thoughts don’t work the same way as theirs. But since all men wake thinking the same thing—keep my family at the top!–theirs is a world of fierce competition. They wake up ready to fight. Men spend their entire existence comparing themselves to each other and fighting for position. They fight to win women. They fight to win and then to keep their jobs. They fight for social status. They fight for admiration and acclaim. Sometimes they fight for their own (and our) lives. No matter where you look in a man’s world, there is a fierce battle going on, hence the constant need to look and feel “manly.”

One of the most stressful places for a man is in his work place. There is almost never peace and there is always a lot of back-stabbing there. There has to be. The guy on top gets paid the most. The guy on the bottom gets near nothing. To allow a fall to the bottom is not only financially disastrous, it is humiliating to a man. And to add to the humiliation is the constant, nagging fear that for most families, a fall to the bottom of the social status ladder is often a fall that will last for many generations. Once beaten down, it is nearly impossible to recover and pull out. Some families never do. The emotional burden and stress of knowing that his children, grandchildren and even his great grandchildren will be effected by how he performs today is enormous.

I almost can’t bear to even think about the burden, yet men are designed in such a way that they have the emotional strength and physical ability to fend off the stress that comes with this responsibility. They tend to think more logically and less emotionally. Their bodies are more rugged, more prepared to take on stress.  Those amazing creatures happily take on the full social and economic responsibility for their wives and children, and they will likely never speak of it as a burden because it feels natural. It feels right.

To have the responsibility to be the sole provider, however, could not be bearable or even possible unless your husband has control over decision-making. He has to have the freedom to be able to decide what job to take that will best provide, where to live, how to live, and he needs to have your 100% cooperation in allowing him to be the decision-maker. Remember that word “obey” that was taken out of the marriage vows? This is where it comes in. It didn’t have anything to do with being a slave to your husband. It had to do with respecting his decisions about how he was going to lead his family and obeying his instructions regarding those matters. You get input, of course, but whatever he decides is final. Welcome back to “obey.” If you can’t accept this, then you can try to live like a 1950’s housewife, but odds are that it will not work for long—not without a whole lot of relationship-damaging suspicion, resentment, and arguing.

Besides, why would it be so bad to just let go and let your husband be the head of the house? If you see that as degrading, ask yourself why. Why would it be degrading to be in a happy marriage where your husband feels manly and treats you like a lady and where your children feel protected and happy? What has happened to our thinking? We as women have got to stop seeing everything as a fight for equality. Despite what our generation was taught, we are not meant to be equal in all things. We, as women, are designed to excel at certain things and men are designed to excel at others. Why can’t we honor that?

Tonight sit your husband down and tell him that you want him to take over care of the finances. Tell him that you feel like he is better at that type of thing than you are and that it’s just too stressful for you to deal with. If you must, show him this post. Do what you need to do to get him on the same page. And then step away. Resist the urge to show him how to do it. Resist the urge to remind him what to do. And do not check up on him. He is capable. Let him step up to the challenge. He may shock you with his abilities. And yes, he may occasionally mess up, but so what. Haven’t you occasionally messed up? Let him be. Remember when we talked about accepting him completely, just as he is?

Don’t miss

Part 2–Preparation and Why that 2nd Income wasn’t helping as much as you think.

Part 3– Money Saving ideas

Part 4–15 Ways to Earn Money from Home.