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Forum -> Working Women
Is it possible to live on a single income?
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PassionFruit




 
 
    
 

Post Fri, Jul 15 2016, 8:30 am
Just one little comment--350 for school is insanely cheap. I assume that either means playgroup or that you live in Israel or somewhere else with government supplemented tuition. Without tuition, all of us can live on a lot less. Where I come from, tuition is 12k a year per kid, so that would be 24k a year, meaning roughly 2000$ extra per month you would need. Thats if you dont have more kids. This is the reason people cannot live on one income.
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amother
Wheat


 

Post Fri, Jul 15 2016, 9:41 am
funnyface wrote:
Just one little comment--350 for school is insanely cheap. I assume that either means playgroup or that you live in Israel or somewhere else with government supplemented tuition. Without tuition, all of us can live on a lot less. Where I come from, tuition is 12k a year per kid, so that would be 24k a year, meaning roughly 2000$ extra per month you would need. Thats if you dont have more kids. This is the reason people cannot live on one income.


It's the first year of real school so it's much cheaper then regular tuition. next year it's much higher ($10,000+).
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skee




 
 
    
 

Post Fri, Jul 15 2016, 9:49 am
amother wrote:
OP - I live on about that much but with the help of Medicaid, not much else.

breakdown as follows

Rent : 1500
food: 1200
Bills: 700
IN your case school 350

that's 3750 for basics so you'd be left with about $400 a week for everything else, depending on your situation (how much rent is, if you have car payments etc) that could work, for sure for a year or two until the baby is older and you are more ready to work. Especially if you have savings. Also there is a earned income tax credit that would probably bring in enough for a yearly emergency fund.

You will be tight but it is a reasonable idea.



Did you mean $400 a month?

Even so, I am not sure if $4,150/month is accurate for take-home pay for a salary of $55K. Taxes eat up a lot.

Also, we don't know if OP's DH gets medical benefits or if they have to pay for insurance. Even if their child and baby could get medicaid or Child Health Plus, I doubt the adults in the family would qualify for medicaid with that income and 4 people in their household (based on my experience with trying to get on medicaid).
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amother
Lemon


 

Post Fri, Jul 15 2016, 9:59 am
OP, it seems to be that the bottom line is that you would need a careful plan of how to make up the $1,600 a month that you would be short. Unless you can cut that amount out of your budget (minus whatever DH's raise would knock off), it would seem that you will need to work at least part time.

In your original post, you said that you know many mothers who don't work and asked how they do it. I often wonder the same thing. My guess is that in most cases their husband's salary is simply higher and so it covers their expenses.
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amother
Wheat


 

Post Tue, Jul 26 2016, 9:54 am
skee wrote:

Also, we don't know if OP's DH gets medical benefits or if they have to pay for insurance. Even if their child and baby could get medicaid or Child Health Plus, I doubt the adults in the family would qualify for medicaid with that income and 4 people in their household (based on my experience with trying to get on medicaid).


My DH gets medical insurance fully covered by work, which adds a lot to his "package" although his salary is not that high.
We don't qualify for any government aid.
Our medical expenses are actual quite high (about $400-500 per month) due to a health issue.
The major thing I'll be cutting down without working is daycare and cleaning help. I pay $900 now per month but once I have a baby that amount will be much higher since I'll need a full day.

I wish I knew how to make this work but every way I try it seems impossible. The numbers just don't work.
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amother
Lemon


 

Post Tue, Jul 26 2016, 10:58 pm
Perhaps and organization like Mesila could help you review your finances and figure out if there is a way to make it work.
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