Living On One Wage – One Wage Family Introduction post

Living on one Wage

Welcome to my blog:)

I created this site as a way to share ideas on money making and money saving, both topics I am passionate about. Like many others we are family living on one wage. I have been a stay at home mum since the birth of my daughter 4 years ago. When I became pregnant I was in my final year of university and finished just 2 months before I gave birth. With no job to go back to, staying at home was really my default option. It was also apparent that any money I did make would be eaten up with nursery costs as I would be a low earner. Unfortunately I also do not have any family that could help with any free childcare. Luckily we are fortunate that we can survive on just my partners wage but of course me being able to earn a little extra money makes life easier! I have always been a keen money saver since my teens so luckily already knew of ways to keep our outgoings low.

Since my daughter was a baby I have also actively searched ways to make money from home .In the past few years I have earnt a regular amount from various websites. When there is only money coming in from one wage any extra money made can be very helpful! Living on one wage is certainly possible but for many people this will require learning to be money savvy. General advice on living as a one wage family can be broken down into the following;

Living Within your means.

Living within your means is really common sense! To ‘live within your means’ simply means that what you spend each month is less or equal to the amount of money you bring in each month. However this is often easier said than done. Its important to be realistic about how much you can spend each month. For example we recently bought a house and spent ages working out the figures on what we could afford without stretching ourselves financially.

Budgeting and Saving.

Budgeting is essential when you are living on one wage. Firstly it helps to start with listing all the incoming family money and outgoings. From there you can allocate money to bills and essentials first and then things like food shopping, clothing etc. Again this sounds like common sense but its surprising how many people aren’t fully aware of their outgoings and general finances! Sometime it can be useful to write down a budget for everything and there are also a lot of helpful budget printables out there. Having savings is also ideal when you are living one wage. It is useful to budget some money to a savings pot each month should an emergency arise. Even if it is only a small amount set aside regularly, your savings will soon add up.

Avoiding Debt

There’s a reason why so many people get into debt. Credit Cards, overdrafts, loans are all tempting to use when theres just that item you need to buy or an unexpected bill arrives. Credit should be avoided as much as possible as it can be a slippery slope as I have experienced in the past myself. If credit cards must be used then remember to shop around for the best rate, pay off in full the next month when possible and avoid getting one with a high limit. Another reason why having savings available is important is that they can be used when needed instead of having to get into debt.

Being Frugal

Living Frugally basically means spending less wherever possible. I personally like to refer to being frugal as making smarter spending decisions. Frugality is certainly not about depriving yourself but rather spending money wisely and getting the best deals. The great thing is you can apply frugality to many of life’s family costs whether its food shopping, entertainment, gift buying, there are many areas where you can easily be saving money.

Making extra money

Everybody likes extra money! Earning money from home is something that many people desire, particularly those with children who want to save on childcare costs. When you are a one wage family every extra penny received is appreciated whether its just some additional spending money or the equivalent of a full time wage. The great news is that there are so many ways to earn money online, you can check out my list of money earning websites here

Hopefully some of the money related tips you will find here on this blog, you may find useful. It really is possible to live well on just one wage. 🙂


Please Share 🙂

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *