FMOOD 0082: Success on One Income - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.

There are many reasons why married folks decide to go from a two-income household where both spouses are working to a one-income household where only one spouse works. The usual reason for this is to have one parent at home to raise a child or multiple children. Naturally, the decision to move to this way of doing things can be scary and will almost always cause some level of stress. Fear not, because this can be done! 

 

What you do need to realize is that it's not always an issue of how much income is coming into the household but rather how much is going out. If you can better control and reduce expenses, sometimes that is all it takes to move to a one-income household. You will need to be the one to analyze your particular situation to find out if a one-income scenario is the best move for you and your family.

 

If you have decided that you and your spouse will change from a two-income to a one-income household, then the next step will be to clearly define roles and expectations before making this change. The spouse who will be the provider will have certain responsibilities and expectations as will the spouse who will be the stay-at-home parent. Both sets of responsibilities are equally important, and the sooner you and your spouse realize the true definitions of these individual roles, the better.

 

You may find that one of the greatest benefits to switching to a one-income household will be the sense of camaraderie and teamwork that will come about as you and your spouse work together to make this work. Because it can work, and you can do this if you truly want it!

 

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