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Thread: Living off one income question

  1. #21
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    Quote Originally Posted by A790 View Post
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    For most families, a single-income means a major reduction in financial health. Most one-income families I know do not save for retirement, for example. Like, at all.
    You need to change your lifestyle and dgaf what others think about you. We have a bunch of relatives who are single income and work minimum wage jobs like dishwashers, waiter/waitress, janitorial and all provide for their families with no issues and most have their houses paid off before kids are finished high school and they have a lot of money in the bank. They are the epitome of cheap bastards but get a A+ for surviving and thriving on low and single income.
    Last edited by topmade; 12-14-2019 at 10:33 PM.

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    I'm the sole earner in my family and have been for 7 years. It's been a very up and down economy for what i do, so there have been some tough times, but I've always been able to save exactly for those times...

    At the same time, I lost out on alot of significant savings, but I'm slowly making my way back into that. It's all about budgets, obviously.

    But yes, making 50k a year vs 150k a year on one income is very different. I have living expenses, which includes everything and im still be able to save money on one income, making in between that 50-150k range lol

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    I'm a one income, 50/50 custody parent. Yes it means 100 percent of everything money related is up to me, sink or swim!
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.
    Originally posted by JRSC00LUDE
    I say stupid shit all the time.
    ^^ Fact Checked

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    What's the question? I don't get it.
    It seems like you're asking "what does single income mean?"
    Or, are you in a roundabout way getting at all these "I'm a single mom" Karens who want the world to see them as abandoned and burdened with the children, daycare and low paying job when the reality is the baby daddy gets the kids half the time and everything to do with their children is split 50/50.
    Are you asking if those people should get to call themselves "single income"?

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    Quote Originally Posted by topmade View Post
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    You need to change your lifestyle and dgaf what others think about you. We have a bunch of relatives who are single income and work minimum wage jobs like dishwashers, waiter/waitress, janitorial and all provide for their families with no issues and most have their houses paid off before kids are finished high school and they have a lot of money in the bank. They are the epitome of cheap bastards but get a A+ for surviving and thriving on low and single income.
    lolwut

    Show me the math. 30k/yr doesn’t go very far, and it’s definitely not “a lot of money in the bank” money, no matter how cheap you are. Shit, even if it’s someone working two ft jobs for 60k/yr, my comment is still the same.
    Last edited by bjstare; 12-15-2019 at 11:09 AM.

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    My brother has a wife and two kids and he's the sole earner on a fairly modest income. They just budget and live frugally without sacrificing health. They live in a modest house close to his kids school, he drives a practical family car he bought used etc. Definitely not living the high life but totally comfortable. His kids get nice healthy home cooked meals every day and quality time with mother. They much prefer that over having their kids spend half their formative years with strangers so they can pay car lease payments and big mortgage.

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    I agree with what is being said. Of course this is dependent on so many things. That is why I kept the question broad.

    Quote Originally Posted by ThePenIsMightier View Post
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    What's the question? I don't get it.
    It seems like you're asking "what does single income mean?"
    Or, are you in a roundabout way getting at all these "I'm a single mom" Karens who want the world to see them as abandoned and burdened with the children, daycare and low paying job when the reality is the baby daddy gets the kids half the time and everything to do with their children is split 50/50.
    Are you asking if those people should get to call themselves "single income"?

    Quote Originally Posted by Team_Mclaren View Post
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    imo your question is too board, one income which is 50k vs. one income which is 150k is a huge different...
    Well that is what made us start thinking about it funny enough. We can survive on my income but my wife doesn't make enough. So we wondered if we could live on 'her' income only. Which is where we are short. We can survive on one income, mine, but I make considerably more than her a month. So I find the statement of living on one income when it comes to us perplexing. I feel the probability of one person being laid off in a lifetime is high, so I would want to make sure we can survive on hers. That to me would be 'living on one income' being the lowest persons wage and still making it.
    Last edited by The Cosworth; 12-15-2019 at 11:12 AM.
    Cos...

  8. #28
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    Quote Originally Posted by ThePenIsMightier View Post
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    What's the question? I don't get it.
    It seems like you're asking "what does single income mean?"
    Or, are you in a roundabout way getting at all these "I'm a single mom" Karens who want the world to see them as abandoned and burdened with the children, daycare and low paying job when the reality is the baby daddy gets the kids half the time and everything to do with their children is split 50/50.
    Are you asking if those people should get to call themselves "single income"?
    How are people finding this so difficult? I would like to assume that single income with respect to this thread and the OP's first post is a two parent family (with kids) with both parents happily living in the same home. Anything else would be muddying the waters, no?
    Will fuck off, again.

  9. #29
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    We're basically a 1 income family. But......we don't have kids lol, just 2 dogs.

    In our situation, I make roughly 100,000 a year, and my mortgage is $2100 a month. If we had 1 child, things would become really tight but doable. Add 1 more and my wife would have to work for sure.

    We're fine without kids though, for me, the rewards don't outweigh the risks.

    I feel sorry for you guys with kids but sometimes I'm envious of the things I'm missing out on too... can't put a price/cost on some things you get to enjoy as a parent.
    Last edited by 370Z; 12-15-2019 at 11:19 AM.

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    Quote Originally Posted by 370Z View Post
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    I feel sorry for you guys with kids but sometimes I'm envious of the things I'm missing out on too... can't put a price/cost on some things you get to enjoy as a parent.
    Some of us guys with kids are envious of you too bud. Can't put a price on the experiences you get that we don't.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  11. #31
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    .
    Last edited by 01RedDX; 05-06-2020 at 12:44 PM.

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    Quote Originally Posted by 01RedDX View Post
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    Single income means just that. One person whose income covers everything and that's me, going on 4 years now since my wife lost her job. Losing half of our household income was tough at first.
    Paying off the car loan and getting a better paying job helped a lot, now my wife is much happier and my daughter gets her mom full time, can't put a price on that.
    This is going to be me soon. Wife just started the 18 month mat leave end of September, so after that’s done we will be down to a single income. We are a bit nervous and will have to adjust our lifestyle but it should be better for our 2 kids long term.

    Nice to hear it worked out for you guys

  13. #33
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    Quote Originally Posted by 370Z View Post
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    We're basically a 1 income family. But......we don't have kids lol, just 2 dogs.

    In our situation, I make roughly 100,000 a year, and my mortgage is $2100 a month. If we had 1 child, things would become really tight but doable. Add 1 more and my wife would have to work for sure.

    We're fine without kids though, for me, the rewards don't outweigh the risks.

    I feel sorry for you guys with kids but sometimes I'm envious of the things I'm missing out on too... can't put a price/cost on some things you get to enjoy as a parent.
    I guess one of the rewards with having children, if you wish to call it that, is the ability to call in them in times of need. Pets can never fulfill that and we are a family that has a home full of pets.

    Case in point, my parents now in their mid-80's, are now starting to lean on their kids a bit for assistance. Both of them are currently going through cataract issues and having them addressed and myself and two of my brothers have been there to assist them when needed.

    Same thing goes for my MIL, if they had had no kids they'd be like my one aunt who has no one to really call upon. Now it doesn't help that my aunt is living very much isolated from family on Walsh, Alberta but money (which she has) can't buy her quite the immediate caring assistance she could get from her own kids (in most cases).

    Regardless, being a happy couple under one roof with two dogs living off of a single income isn't the same as what the OP was getting at. And let's not derail to the whole kid-less versus kids argument, that shouldn't be what this thread is about and it has been beat nearly to death in other threads in the past.
    Will fuck off, again.

  14. #34
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    when i say we are a single income family, i refer to the fact that the life style-wages we were accustomed to is now gone and we have to make due with what ever my income is. although my wife does work more and more as the kids get older it will be a while before she is at a regular income level.

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    I hope I'm in a position in a couple years to make enough to support the two of us and probably 2 kids. Not sure what that number needs to be though.
    Ultracrepidarian

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    I've always planned our finances so that we could live on my income (the higher one, also a very secure job) alone with some small cutbacks on lifestyle and retirement savings. If I was laid off, we would be ok on her income so long as I had EI. After that we'd have to dip into savings.

    That said, my recent career change means we earn about the same, so our safety net (both wage, and job security) is gone. I'm a little nervous about it.

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    Quote Originally Posted by msommers View Post
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    I hope I'm in a position in a couple years to make enough to support the two of us and probably 2 kids. Not sure what that number needs to be though.
    I truly believe that that number is a more difficult one to achieve compared to when we were a single income family, that's not to say it wasn't easy for us but costs have increased more than incomes have for most people.
    Will fuck off, again.

  18. #38
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    Y'all need to send your ladyfolk back to the factory.

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    Quote Originally Posted by Buster View Post
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    Y'all need to send your ladyfolk back to the factory.
    I’ve made up part of the difference by MMM. I d rather she stay home and raise my special snowflakes than have some Random raising my kids (daycare / nanny).

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    Did you MMM by MLM?
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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