The decision to reduce the family earnings can result in a change in living conditions, the benefits of having a stay-at-home parent are often worth the sacrifice.
Before making the leap into the world of single incomes, however, there are a few vital steps to make the transition as smooth and comfortable as possible for the entire family.
Before making the big change, sit down with your partner and go over your budget.
BE REALISTIC AS YOU DECIDE WHERE YOU CAN CUT COSTS AND WHICH ITEMS OR AMENITIES YOU CAN LIVE WITHOUT.
Consider reducing your cable bill or recreation expenses..
CONSIDER FURTHERING YOUR EDUCATION
For the partner who stays home, continuing education can provide new opportunities when she or he returns to the workforce when the children get older.
TEST DRIVE YOUR NEW BUDGET
Implementing your new budget before that time will give you a real-life look at how things will actually be.