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Seven steps to living on one family income...it's no myth

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Real Estate Agent with Re/Max 100

 

7 steps to living on one family income

How to become a one-income family

 

It's no myth: More couples than ever are relying on two incomes to get by.

According to the New York-based Families and Work Institute, 79 percent of today's married couples have both people in the work force, up from 66 percent in 1977.

 

But at some point, life happens -- you start a family, go back to school or face a layoff -- and this new reality may force you and your partner to question whether you're ready to jump off the dual-earner treadmill.

 

While there are steep odds to overcome, living with only one family income can be done with thorough planning and a willingness to make choices.

 

 

 

from bankfrate.com

Autumn Giusti

Posted by

 

Regards,  

Indera Coggins(R)
Certified Distressed Property Expert
301-481-0787 (cell)
410-423-1753 (fax)
inderac@gmail.com
www.inderacoggins.com 

Comments(2)

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Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

yeah....it used to be assumed. We have always "lived" on my husband's income and mine is for college, travel, savings. It can be done. I realize I have a safety net, but it still can be done on one income.

Sep 01, 2010 03:59 AM
Gail C. Harris
Resource Network, LLC SFR, AHWD, ACRE, SMAR Board Director - Chesapeake Beach, MD
Reach the BEACH with Gail C. Harris (cell: 703.868

That's the way it used to be done.  And, in the "olden" days most women were stay at home Mom's and Dad's got 2nd jobs to keep the family afloat, if need be.

It's always best to try to live on one salary.  Before I retired from my government job, I made a good salary and we lived on my husband's salary and played with mine, as Karen.  It's always a good idea, in case of emergencies, illness and or the "l" word, layoffs to try to live on only one salary as best one can.  Then the hard times aren't quite so hard. 

Thanks Indera, great post. :) gail

Sep 06, 2010 12:19 AM