Learning budgeting habits to live on one income

Question: My dilemma is this: How can I convince my wife that this is possible? She thinks the idea of living on one income is unreasonable. We tried it before and failed miserably, I believe, because we were uneducated and unprepared.


Answer: We feel for your situation. But given your financial past, it’s unlikely you’ll soon convince your wife to live on one income. It will take time to establish new, sound financial habits in your home before she’ll feel secure in your decisions.



Develop and maintain a working budget for at least six months, build some savings (at least three months of living expenses) and become totally debt-free before you consider reducing to one salary.

It may take a year to prove your commitment.

 Check your library (or browse our online book reviews) for books by Larry Burkett, Dave Ramsey and us. 

Hook up with someone to help you walk through these changes and help you both deal with your emotional and financial issues; check out Crown Financial Ministries’ Web site. They have personal budget coaches, and their small-group study course teaches sound financial principles and a very practical budgeting system.

You’re right, it will take education and determination, but we know you can do it. By investing your time you will ensure your family a firm financial future.