On today’s show, I’m finally addressing the most popular thing I get asked about: How my family of 5 survives and thrives off of just one income. We go into the humble beginnings of our marriage and parenthood, explaining why we decided to do this and giving 7 steps that you can take to become a single income family.
In this 43 minute episode we discuss:
- Our story; life after we had our first child and how we got to where we are today
- What made my wife consider being a SAHM (stay at home mom) despite her upbringing and career-driven mentality
- Parenting styles, daycare, breastfeeding and other things that weighed in on our decision
- How my wife going back to work part-time after maternity leave helped us transition into her becoming a SAHM
- The surprising benefits of being a single income family
- The costs of working
- How having a stay-at-home parent actually saves you money and your weekends
- The lifestyle of a single income family
- How living on one income decreases stress and increases security
- How you and your spouse can BOTH work yet still live off of one income, and why doing so gives you more options
- How just making the decision to live off of one income is the most important step, regardless of your circumstances!
- The importance of becoming team players
- Considering the material, physical and psychological costs of your job
- The chief cause of failure
- Unique ways to transition into this lifestyle, why you don’t necessarily need to quit your job
- Considering what you value most in life
- Our rule of thumb when it comes to housing expenses
- A minimalist lifestyle, we think this article is a good introduction to the concept
- Leaving the Joneses alone
- Staying ahead of your money and eliminating distractions
- Dedicating time to your goals
- Breaking the paycheck-paycheck cycle
- How gratitude improves your lifestyle
- Keeping what is most important to you in the forefront
- The secret to knowledge and building faith
- And much, much more
Take notes… Listen to it again and again!
“I AM” husband, father of 4, freedom fighter, firefighter & host of The Get Your Money Right Podcast!