36 Effective Tips On How To Live One Income In A Two Income World

Do you dream of being a stay at home mom, but aren’t sure how you can afford to? Learn how to live on one income in a two income world and be a stay at home mom by implementing these tips and reducing your everyday spending habits!

It takes a lot of discipline to live on one income and it may not be very easy to do at first! For most people, it’s life changing. At least for us it was.

We didn’t plan on it as we bought our home based on a two income budget. However, when our first child arrived I decided I wanted to be a stay at home mom. From that day on, we planned how we were going to live frugally so that we could live off of one income.

I outlined a bunch of tips that will show you how to be a stay at home mom on one income to help you reach your goals by making simple lifestyle changes.

All off these ideas may be for you or maybe all you need is to try one or two to help you reach your goals.

We are all in different financial situations and these ideas are just a guideline to get you thinking frugally and show you how to save money and live on one income!

Tips To Living On One Income In A Two Income World | Control Your Spending

Fitness

Cut out your gym membership. I signed up for Planet Fitness when it was only $10 a month. Now this was great deal , but when we switched to one income we knew this had to go. We bought a good weight set (highly recommend!) and never looked back. It’s been over 10 years of working out from home now. So let’s do the math for fun to see how much we saved.

(highly recommend!) and never looked back. It’s been over 10 years of working out from home now. So let’s do the math for fun to see how much we saved.

Two gym memberships is $20/month X 1 year = $240/ year. We save $240 a year by working out from home.

Now multiply that by 10 years because that’s how long we have been working out at home.

10 yrs x $240 = $2400

The weight set we use cost us approximately $260.

That means we saved $2140 over 10 years by cutting out the gym!! Totally worth it to us

Most gym memberships cost way more than $10 a month. A lot average around $40.

$40 x 12 = $480/yr

So right there you can see how much these memberships are costing you!

How To Save By Checking Price Per Pound

I didn’t learn this until we started to live on one income. I don’t know why I never noticed this sooner! If I was looking at two similar items I would immediately just grab the one that was on sale that was less money (at least it seemed). However, if you look at the price per pound sticker that will tell you what the best offer is to get the biggest savings. Now I skim for the lowest price per pound of all the brands before I buy to get the most for my money.

Make Your Own Coffee

No more Starbucks or Dunkin Donuts. If you get a Starbucks Latte Grande at approx $3.65 for 5 days a week that works out to be almost $950 a year!! Can you believe that!

This was one of the first things we cut out of our budget.

We now consistently make our own and have a Keurig for those times where we just want a quick cup in the afternoon.

Meal Plan

If you don’t plan your meals your very likely to overspend at the grocery store because you just pick up things that you may not need. (Ready my in Depth Grocery Store Savings Post HERE)

If you know exactly what you’re eating all week you buy those items and nothing more. Browsing the grocery store(especially when hungry!) will definitely not help you cut costs! Guaranteed you will end up spending more.

Try to do a large shopping trip on a day that works best for you and then you can always stop back once during the week to pick up extra milk, fruit or veggies.

Check your grocery store circular every week to see what deals they have going on. We bought an extra freezer years ago so we could stock up on meats when they were on sale. The freezer was well worth what we spent on it. It has saved us so much money I cannot even begin to tell you! The freezer not only allows me to stock up on meats when they are on sale, but it also gives me more room to freeze leftovers for another nights dinner.

Cook More and Go Out To Eat Less

We used to order pizza every Friday and go out to dinner on the weekends. Now we only go out to dinner on special occasions and we have frozen pizza Friday nights for the kids. Huge savings by doing this.

A family of 5 going out to dinner,even if it’s a casual night at Chick Fil A, would cost around $30(roughly). So 4 times a month would be $120. Multiply that by 12 and you save $1440 a year. That could be put towards bills or a vacation to the beach!

If you’re like me you want a break on cooking a few nights a week and that’s why you go out to eat. Maybe do a quick meal at home like sandwiches or chicken nuggets. While it’s not a healthy meal, it’s a substitution for one night of the week to give you a break and keep you in line with your budget.

Here is a great list of sheet pan recipes to add to your meal prep so that you have a dinner ready and are less likely to do last minute restaurant run because you weren’t prepared!

Drink Water and Cut Out the Sugary Drinks

This step will not only save you money, but will help you lose weight and get healthy!

Sugary drinks like soda and fruit juices are not good for you and are probably one of the easier things to cut out of your diet. See here for more tips on reducing your sugar…..

Another added benefit is that if you drink a glass of water before your meal you are less likely to eat as much which means less food and more savings!

Start a Garden

Okay , so I realize this might seem like a lot of work and this is not necessarily what a busy family needs added to their list!

I totally get it. Just know that this can save you a lot of money in the summer on vegetables. You don’t have to plant a large garden. You can fill a few pots on your porch or on your deck with your favorite vegetable plants.

Not only are fresh vegetables 10x better, but it’s very rewarding. The kids usually enjoy it too and have fun contributing. This will save you a good bit of money on produce because seed packets range from 1-3 dollars. Then if you get too many vegetables you can freeze what you can’t eat!

Cash Back For Shopping With Ebates

This is the easiest way to earn extra money when your doing your online shopping.  Here is how it works. Ebates gives you cash back for shopping at your favorite stores.  It’s legit. I’ve been using them for over 4 years and I wish I knew about it sooner.

By using Ebates, you are getting ADDITIONAL cash back after you have already shopped and used your store coupons.

Here’s how it works:

Sign up for an ebates account

Go to the Ebates site and search for the retailer you want to shop. They have a huge selection of retailers to shop from. Kohl’s, Express, Macy’s, Bloomingdales, Best Buy, Shutterfly, Barnes and Noble, Gap, Banana Republic, Fanatics, Sephora, Qvc etc. There are too many retailers to name.

-Make a purchase like you normally would at the retail store! That’s it. Done. 

– Ebates will mail you a check every quarter. It’s so exciting to get a check in the mail! Sometimes we forget it’s coming so it’s a nice surprise.

Continue reading my full in depth Ebates Review here…

Sign up here and automatically get $10 when you place your first order!

Dye Your Own Hair

I also started dying my own hair. This saved me so much money I can’t even begin to tell you. Those of you that frequent the salon know what I’m talking about. Getting your hair cut and colored is beyond expensive considering most of us get it done every 6 to 8 weeks.

When things were really tight I used boxed color. I dye my hair all one color so this worked well for me. I would not recommend this if you want highlights! So a $7 dollar box every 6 weeks compared to $70 or more was a huge savings. I go to the salon 8 times a year.

Salon visit- 8 x $70= $560

Dying my own hair – 8 x $7 = $56

I saved $500 that year!

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Related: BUSY MOM HACK: How To Straighten Curly Hair Without A Flat Iron

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Paint Your Own Nails

I love, love, love getting a pedicure, but it’s too costly to keep up with it. Now I will buy a nail polish color I like and get a pedicure at the beginning of the spring season. Then as it wears I will touch up with the polish at home. I can usually keep this going for a while. Manicures are no longer possible because they don’t last long enough for me so I always do my own.

Another way to save money is to try these Impress Press On Nails. Check out my results. I think these are a great alternative to a manicure if you want to save money. Way more cost-effective!

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Buy an Electric Razor

As you know the cost of razors are outrageous! Whether it’s name brand or not you are paying a ton unless you get disposable razors. My skin is to sensitive for disposables so I went ahead and bought an electric razor. I absolutely love it! The shave will never be as good as a regular razor , but it’s good enough to use for the majority of the time. Not only is it quick and easy to use, but I never cut myself and I never get razor burn! This will put a lot of extra money in your pocket if you stop buying razors this year. My electric razor was only $15! Shop for it HERE. This was another one of those purchases that I regretted not doing years ago!

Buy Generic When Possible

Sometimes generic brands are exactly the same as the regular brand. You just have to try them out! I will sometimes check the ingredients if it’s medicine or food to see how closely they match up. Not all generic is good, but I was pleasantly surprised at how much is.

Dollar Store Finds

Save yourself some money and buy your greeting cards at the dollar store. Instead of paying 5 dollars for ONE card at Hallmark or Target you can get 10 cards for the price of one at the Dollar Store!! Depending on your store,maybe 5 cards for the price of one, but at mine you can get cards for $.50 each. Stock up on them so when you need one last minute your not stuck spending too much at the grocery store on a birthday card!

You can also save by getting your kitchen sponges , kids party favors, tissue paper and gift bags there. The little things add up!

Shop The Stores Website and Compare Prices

For some reason retailers will have different prices online than they do in stores. Any time I’m shopping in store I check the online site to see if the price matches. If I find a lower priced item online I ask them to match the price at checkout. So far they have always been accommodating and have given me the lower price. It never hurts to ask!

Another thing I do is check Amazon. For example, if I’m in CVS shopping for my kids allergy medicine, diapers, body wash, etc, I check the price on Amazon for that product to make sure it’s not cheaper. If it’s cheaper on Amazon I buy it from them! Here is a link to Amazon Prime if you want a free trial (Life changing)!

Credit Cards

If you are a disciplined person and can pay off your balance every month then I would recommend using your credit cards for everything to get points. I know this probably greatly differs from the frugal living tips you’ve heard so far!!

We started doing this and have earned a lot of extra money just by putting our groceries and normal purchases on our credit cards. The risk with credit cards is not paying them off and accruing interest. However, if you are really good about keeping your credit card balance at $0 at the end of every month then this money saving tip is for you!

If you pay off your bill immediately you can get points for every purchase and then put your reward dollars towards credit to your statement or get cash back!! You do nothing extra to get the rewards. You simply make purchases as always and earn rewards. Make sure the credit cards don’t have an annual fee. The only ones we use have no fee so there is no risk.

We also take advantage of new credit card offers that we receive in the mail offering us cash back for initial purchases.

This offer from American Express offers $200 cash back if you make $1000 in purchases the first 3 months…

We take advantage of all these offers and we have excellent credit!! I’ve read about taking advantage of these financial offers from many financial sites and it’s an easy way to earn extra cash and you’re not spending extra money. Once again, I only recommend if you are good about paying credit cards off immediately. If not, stay away from credit cards!!

Lower Your Thermostat

Every degree you lower your thermostat can reduce your energy bill by 1-3 percent! We implemented this immediately when we were starting to cut costs. We have zone heating and use a programmable thermostat where we can set a time to have the heat reduced when we are sleeping. I will also turn the heat up when my daughter naps and then back down when she wakes up. I’m always adjusting the heat to save money.

The same would apply with your air conditioner. Turn the thermostat up when you are leaving the house and have it set for cooler temps when you’re going to be home. Source:energy.gov

Coupons

I realize today not everyone gets the Sunday newspapers. So where do you find coupons and the latest deals?

You can go to Coupons.com and print out the latest coupons and then if you really want to get good at saving you can wait till the product goes on sale and match it up with the coupon for double savings.

Also, check out The Krazy Coupon Lady . She keeps you up to date on all the latest sales and will tell you how to get items for free.

For those of you who don’t have time to deal with coupons or just don’t have any desire to than Ibotta is the way to go….

IBOTTA

This is an app that saves you additional money when you shop. There is no catch to this either. It doesn’t cost anything to join and it’s really simple to use. I mainly use this for grocery shopping, but Ibotta has 283 retailers to choose from!!

Here’s how it works:

1. Search Ibotta for the store you are going to shop at.
2. Go to the grocery store and shop as usual
3. When you get home go on the app and add all the items that you purchased that shopping trip.
4. When your done adding all your products hit redeem and then take a picture of your receipt.

You’re done! That’s all you have to do! Sometimes they make you scan the bar code of the product , but it’s easy to do.

You receive the money you earned from Paypal or Venmo. You can also convert your earnings into a gift card. So basically it’s extra coupons on top of the coupons you already used! Now the savings aren’t HUGE or anything. I just feel like why leave money on the table because every dollar adds up in the end. When you’re trying to save this is how you do it!

Here is the Ibotta link to sign up. You can receive up to a $20 welcome bonus for signing up.

Once again, there is no hidden costs and you don’t need to use it if you end up not liking it.

Clear the Clutter and Sell it!

Start purging and get rid of things so you know what you have. If we have too much stuff we don’t realize what we need and we can overspend.

If you start getting rid of things you can also sell the items on ebay, a facebook yardsale group or have a yard sale of your own. You will feel so much better once you clear stuff out and then get rewarded with money in your pocket! If you don’t feel like selling donate to Green Drop. I have them come directly to my home and pick up my donations.

Don’t forget to clear the clutter in your fridge too! You forget what you have and end up making something when you could be using your leftovers.

Change Your Cell phone Carrier or Negotiate a Better Plan

I was a Verizon customer for most of my life, but changed 2 years ago to Consumer Cellular. It was getting too expensive to stay on the Verizon plan and I’m so happy I switched. My service hasn’t changed a bit. I’m paying half of what I paid with Verizon and my plan is the same. So consider searching some lower priced cellphone providers because it can save you a lot per month. I’m saving at least $30 a month by switching providers. I highly recommend shopping around.

Get Rid of Your Landline

I have a some friends who got rid of their landline and use only their cell phones. We still have ours and haven’t taken this step, but it’s another option to reduce costs. A rough estimate would be that it’s costing you at least $20 a month to have a landline. That would mean a savings of $240 a year if you decided to cancel it!

Cable

Get rid of cable altogether and a replace it with the Amazon Firestick . Then you can stream videos from Netflix, hulu, movies, tv shows etc. This would save you at least $60 a month.

Library

Check to see if your library offers passes to museums , zoo’s etc in your area. Our local libraries allow us to reserve passes to the zoo for a weekend for free! The only requirement is that you’re a member. Definitely worth a look because you can save a bunch by taking your family out somewhere special for free!

While you’re there if your a big reader see if the Library has books you like instead of buying them!

Turn off the Lights and Unplug

You’re parents knew what they were talking about… turn off the lights if you are leaving a room. It’s costing you money by leaving them on. Leaving all our electronics plugged in is also costing us. If we unplug we might be able to save ourselves up to $200 a year! I was pretty surprised by this number. I had no idea it made that much of an impact. Source: Energy.gov

DIY

Do as much as you can yourself! Instead of buying brand new furniture take an old piece of furniture and fix it up with paint or stain it. If you’re remodeling try to do some of the work yourself. There are so many How To Videos on You Tube that will guide you through just about anything!

Ask you Doctor For Samples

My children’s pediatrician has given us full tubs of formula every time we took them in for their checkup when they were infants. One time I walked out with four containers of formula!

They also have supplied me with boxes of Claritin and Tylenol.

It never hurts to ask them if they have any extras or samples. Sometimes they are cleared out of their stock, but you never know if you don’t ask! They usually are happy to help and give things away to their patients.

Check With Your Health Insurance Provider

Our health insurance supplied us with a free Medela breast pump when I was pregnant. Call to find out what your insurance plan has to offer you.

Additional Tips on How To Live on One Income in a Two Income World |Save Money and Reduce Costs:

• Buy in bulk if you have the space for it
• Try to have at least one dinner a week without meat- eat more eggs and beans for protein sources. They are healthy and cheap!
• Wash your own car
• Cancel all magazine subscriptions
• Check around for the lowest oil prices and don’t settle for one company
• Check the rate for your energy provider
• Hold off on the movies and have movie nights at home for a while
• Make your own cleaning products. Tons of ideas on Pinterest!
• Check Retail apps for additional perks. Dick’s Sporting Goods gives us store credit for completing a certain amount of steps each day!

Well, I hope these ideas were helpful in showing you how to be a stay at home mom on one income. Some of these ideas are no brainers, but I think it’s a good idea to revisit them because we often forget.

As I think of more ways on how to save money I will update this post!!

Remember that all the little things you do each day to save adds up long term. This will not be an easy change at first I’m sure, but after a while you get used to it and it becomes a way of life. 🙂

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