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  1. #1
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    Default Living on one wage....

    We are a family of three and currently saving for a house.

    I work part time and DF works full time.

    I am wanting to trial living on the one wage and banking all of mine.

    In a year or two I would also like to try for another baby and will need to live off DF's salary. I am not sure if I will be returning to work but will be trying to work from home.

    For those that do or those who want to how do you live on one wage or what are you doing to prepare for that?

    Thanks!!!

    *sorry if that was a bit muddled I haven't slept for more than a few hours a night for over a week now!

  2. #2
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    Default Living on one wage....

    When I was pregnant we slowly started putting my wage away. $100 at a time until it was just easy!

    We had to drain it to move into a new, bigger house then expenses after DD was born because she was in hospital a lot!

    But it got us used to living off DHs wage alone. 3 years on and I'm stu a SAHM and we just brought out first House.

    It's easy if your determended and are prepared to budget and go without some luxuaries. Our biggest thing was realising how much we ate out at restaurants!!We saved so much there alone!

  3. #3
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    I am putting $300 out of my pay this fortnight into the house account my whole salary is about $1000 so am pretty happy with that I also pay the rent at the moment $530 and then remained is my money for the fortnight.

    I need to go over DF's wage and see what we can do. Would be great for him to pay the rent then what I have can go into the house!

    We don't go out for dinner! take away once a fortnight sometimes a week if we are feeling too worn out.

    Our shopping needs an overhaul though for 2 adults and a toddler we spend around $300 per fortnight.

    Any more tips would be great!

    Did you write up your own budget?

  4. #4
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    Default Living on one wage....

    I think he easiest thing to do is write down every expense you have plus a modest amount for essential spending such as groceries and petrol (300 per fortnight for 3 is a bit high!)
    Then write down the amount you will need for deposit, associated loan costs. (this might take research if you do not already know) then divide that amount by how many months you will be saving for.
    Eg if you want to save for a house with the next two years and you calculated you will need 45k then divide 45 by 24 months = $1875. Take this amount Of $1875 and add it to your expenses as if it were a bill. Now minus all your 'expenses' from your income and that if what you have left for spending..


 

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