Tips on how a family can live comfortably on one income.
by John Roberts
Sell Or trade your second car
If you have two car payments, consider selling or trading one of the cars. Selling one of the cars can save you a considerable amount of money both in the car payment and in reduced insurance and maintenance fees.
Eliminate unnecessary luxuries
You can save up to $100 a month just by eliminating some unnecessary expenses. For instance, cell phones; do you really need two cell phones, or even one? Cable or satellite subscriptions can also be reduced by changing plans, or eliminated altogether.
Examine your grocery budget
Groceries are another expense that most families can easily reduce. Plan a weekly or monthly menu, make a shopping list, and stick to it. Do not shop for groceries if you are hungry.
Limit dining outside of the home
Try to cut out prepared foods and eating out.
Consider working at home
Ask your current employer about the possibility of telecommuting from home. You might also consider opening your own business and working from home.
Garage sales and consignment shops can be great ways to save money. Many consignment shops only accept quality items so this can be a wonderful way to save money on big ticket items like furniture. Also, consider buying personal hygiene items at stores like Target and Walmart. These stores often sell personal hygiene items at lower prices that the traditional grocery store. If you can't live without your 400 thread sheets, buy them from stores like Overstock.com. You'll pay almost half the price.
You can use coupons for almost anything. You can save on hotels, car rentals, books, movies, diapers, gas, computer products and many other items. Using coupons can save you a substantial amount of money each month.
Have more family activities
You can save money on family fun in several small ways that will add up over the month. Use the library instead of the bookstore, visit the public park, and check with your local zoos and museums; many offer discounts and free days.
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