When a couple becomes new parents, there are many changes they have to make. One of them could be the decision to live on a single income. Yes, it is tough and may cause some upheavals in the relationship between husband and wife.
However, a bit of sacrifice, early planning and lifestyle adjustments can help couples overcome the financial strain of living on a single income. Here are some ways how families can survive with just one salary.
Practice Living on a Single Salary
If parents-to-be will be living on a single income when the baby arrives, it’s best to start practicing way ahead, say David and Libby Koch, co-authors of Kochie’s Guide – Creating and Building Real Wealth with Lots of Love and Laughs [Wilkinson Publishing, 2009].
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