Our culture believes we're not set up to live on one income, but may I respectfully disagree.
I, in no way, intend to step on toes, but I want to share my thoughts on living within our means.
I am tired of people thinking, "Well your husband is a doctor so of course you can live on one income!"
Recently I did some homework on what teachers make in our school district. There's 50 teachers in our district, 20 of them make as much or more than John. If you factor in the money we spend on our own health care, then 25 make as much or more than John, so that 50% of the school teachers in my community make as much or more than John! Just to give you some perspective. John is a small business owner that happens to offer chiropractics as a service! As we compared his salary to some teachers that are his age, he said, "I went into the wrong field!"
Not only is he making about the same, 10% of our income is dedicate to our own health care, 10% to savings and 10% to tithing, so we live on 70% of his income.
"Keeping up with the Joneses" is a common problem among so many of us. Our young people believe they have to "keep up" by going deeply into debt to get a college education. According to some websites, most college students graduate with $21,000 in debt!
Then, some buy new houses, new cars, and try to get established. This of course is a perfect setting and perfectly normal to want to be established, however these days many college students are having a hard time finding well paying jobs so they're getting jobs where ever they can.
Then two people fall in love and each bring massive amounts of debt into their marriage. Just think if the average is $21K, then a couple could have over $40K in debt before buying a house, cars, and just the expense of life.
Then this deeply in debt couple has to still "keep up" with nice vacations, the best cable packages, the latest gadgets, the best clothes, and a house that they can't really afford.
They wait at least 5 years to have kids because they think if they can bring down some of the debt before kids will help. Then they add 2 or 3 kids to the mix.
10 years down the road they still have debt and say, "We just could never live on one income!" Well sure they can't, they have too much in debt/interest payments on all the stuff they've bought to "keep up"!
So are we really a culture that HAS to live on two incomes, our are we a culture that has to "have it all" despite the reality of what we can really afford?
Since we got married we've lived on one income. But we brought no debt into our marriage and have remained committed to having no debt. We've never had a car payment, we've never carried our credit card debt from one month to the next, and we bought a house about $35,000 less than we had been approved for.
I don't say this to be like, "Oh look at us, aren't we just amazing!" But to show, esp. younger people, college students, that how you spend your money now will effect your future family in many ways. Before we met John and I were both committed to being debt free.
Now, at times I've fallen trap to the "keeping up with the Joneses" mindset. When we bought our house I really didn't like it. As we talked through why I didn't like it, it boiled down to what other people would think of my old, drafty, house. Sure it was practical and fits our needs perfectly, but it's not a beautiful and as well put together as other people's houses.
We've never gone without, but we've gone without the extras of life...cable, smart phones, ipads, ipods, new cars, Disney vacations, new clothes every season, and new carpet
(I'd love new carpet, but it in no way fits our budget, so I have a carpet cleaner.
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Even in that we do have plenty of extras and things that have made life comfortable!
Our nation is filled with politicians and people who live outside of our means. Our nation has 13.9 TILLION dollars in debt and we're still spending like we have plenty of money. It will and does catch up to people!
If we don't each commit to living within our means the problem will only get worse. If we don't commit to being off government help as much as possible, the problem will only get worse! We must work hard and stay committed to being debt free!
I do believe there really are some who have to live on two incomes, but I believe this is the exception, not the rule. And the reason I am so passionate about living on one income is my belief in having a parents at home raising the kids. (In case you didn't know that
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I really appreciate Jill and Mark Savages book: Living on Less so Your Family Has More. They have practical ideas in living within your means!
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