In our journey as a one-income family, we’ve discovered that making intentional lifestyle choices not only sustains our decision but also helps us thrive. Being able to have one parent at home full-time with our children is a priority for us, and the financial sacrifices we’ve made have proven to be entirely worthwhile. Here, we’ll share five money-saving lifestyle choices that not only save us a significant amount each year but also make our chosen lifestyle sustainable.
Living Intentionally by Staying at Home
Living on a single income requires a conscious effort to prioritize needs over wants. By embracing intentional living, we’ve been able to streamline our expenses and focus on what truly matters. This not only helps us save money but also aligns with our belief that a simpler life brings greater joy and fulfillment.
The decision for me to stay at home is one that both my husband and I feel strongly about, and it’s one that enables us to save money in other areas. Choosing to stay at home means we have to live with careful intentionality to make it work financially. If our life is a little bit harder, or slower, or smaller, than what it would be if I was bringing in a full-time income, I count us better for it. Ease never makes you a better person, and you can never get this time back with your children.
Being a Stay at Home Mum, there is a presumption that my husband is earning a ton of money to keep me at home to twiddle my thumbs the whole day. This presumption pains me a bit, because I do not like to be considered lazy, nor do I like the perception that I am leaching off my husband. The truth is, we have made sacrifices in our lifestyle so that I can stay at home, which possibly aren’t noticed or appreciated. I’m sure I am not the only homemaker who feels this way, and if you are reading this, know that you are not alone.
It may seem crazy to some people that homemaking is seen as more valuable than to bring in an extra income to the family. This article isn’t going to be a justification of that. The reason I say it at all is just to show why we have chosen the one income route. You can see this article here about why I believe being a homemaker is so important.
The Five Money-Saving Lifestyle Choices
These Money saving lifestyle choices may surprise or even annoy you a bit. They’re a little bit quirky, and some may even find them a bit difficult to adapt to, even a bit extreme. However, the cost of living is continuing to rise, so all of us are having to tighten our belts, single and double income families alike.
When desiccated coconut goes up to $4 from $3, in a WEEK, you know you are living in a bit of a financial crisis. But I’ve already written my top tips on minimising your grocery bill, and sometimes it just isn’t enough. There are other expenses, such as the mortgage, petrol, clothing and other hobbies, which eat into our single income.
This article focuses on ways to cut back on these other expenses. These 5 Money Saving Lifestyle Choices will be helpful to anyone struggling to make ends meet, regardless of whether your household has one income, or two. It’s time to spill the beans!
1. We only have 1 car
The BIGGEST way we save money is not having a second car to maintain and drive around. Not only do we survive on one income, we survive on one vehicle, too! You might wonder how we are able to do this.
My hubby works from home most days a week. He only has to commute three days in a fortnight, which means the car does not get used a lot. I have learned to organise my errands to do on the days the car is available. This means on the days that my husband is at work, I am house-bound, which I am completely fine with. It’s nice to have the excuse not to go out, to be frank. But because of this, we save a HECK of a lot of money on:
- Petrol
- Registration
- Warrant of Fitness
- General Car Repairs
- Insurance
These costs are halved by only having one car.
When I worked as a debt coach in my previous life, I noticed that car costs comprised a massive portion of the weekly outgoings. A lot of people had two cars, sometimes even 3. The costs of servicing these cars, kept them in debt.
I know it would be a lot more difficult to go down to one car if your partner had to commute every day. It would limit when you could go for errands or catch up with other mums. But, friend, it is possible. Perhaps you live in close proximity to the town so your partner could bus or bike in to work. Or, you live close to your friends and supermarket, so you do not need the car for that. I’m not over here saying you absolutely have to go down to one car in order to live on one income. I’m just challenging you to see how many times a week you actually use it, and reconsider that second car if it is lying dormant most of the time. It will definitely save you a ton of money to get rid of it.
2. We don’t have any car debt
Another money saving lifestyle choice we have made is to purchase a car within our budget. It is so tempting to get that flash SUV, but Car Hire Purchase costs are HUGE. Plus, it’s mostly interest you are paying. The idea of paying interest on a depreciating asset is just a bad one to me.
I saw a lot of car debts in my time working as a debt coach, and it was depressing seeing people pay 3 times as much the ORIGINAL value of the car. These debts would sadly outlive the cars, and these people would be paying for something they weren’t even getting the use out of.
Just don’t do it, people! Save up and pay for that car in full, even if it isn’t at the top of your vehicle wish-list.
3. Prioritising Health and Wellness
Investing in our health is a non-negotiable priority. By adopting a DIY approach to wellness, we’ve managed to minimize medical expenses and create a foundation for long-term well-being. From home-cooked meals to regular exercise routines, our commitment to health not only saves money but enhances our quality of life.
By cooking from scratch 99% of the time, we cut down on our grocery bill. And by working out regularly from home, we improve our health for free. We definitely do not pay for gym memberships, however enticing they are. Gym Memberships to me are an example of the Emperors new clothes. The fact of the membership makes you feel proactive and fit, without you actually ever darkening the doors of one.
At the end of the day, YOU determine the results you get from working out, not flash equipment or premises. Whether your workout is at the gym or at home, your attitude will give you an effective workout or make it a waste of time. There are a TON of free workout videos on YouTube that you can do free, from your living room. You can see more about the benefits of a home workout here. Plus, you save on petrol AND time by not having to drive anywhere.
(As you can see by my capitals, I’m pretty passionate about this stuff. Healthy on a Budget, remember?)
4. I Cut Our Hair
This point is to emphasize the lengths I will go to (or cut off, ha) to save money.
But, it’s more than just saving money for this one. I have rarely been pleased with any haircut I have had from the hair-dresser. They either cut too much off, or not enough, or they talk you out of your *amazing* ideas. Plus, they tell you you have dry hair and SO many split ends, and you should buy this, and this, and this.
No more, please!
So I cut my own dang hair, ok? And the boys’, too.
5. I make what I can, from scratch.
Bread. Yoghurt. Curtains. Cushion covers. Clothes. I’ve made them all, some of them on a weekly basis. I am always trying to expand my repertoire of what I can make.
I love that I’m slowly becoming less dependent on large corporations for my food and clothing. There’s something deeply satisfying about not needing anyone else, about being able to have something completely on your terms.
We have saved literally thousands of dollars through buying bare materials and making these things from scratch. The bread we make and yoghurt we make and curtains we make are all cheaper than the cheapest option available to buy from the store, but all have better quality than the most expensive option.
Conclusion
While living on a single income requires sacrifices, the money saving lifestyle choices we’ve made empower us to provide our children with the best possible upbringing. From cutting down to one car, to cutting our own hair, each decision contributes to a fulfilling and financially sustainable family life. By sharing our experiences, we hope to inspire others to make choices that align with their values and lead to a more purposeful and joyous life on a single income.
Comment below on a money saving lifestyle choice you have had to make to fit the cloth!
