If you feel called to life as a full-time mom, you're not alone. The United States has 5 million stay-at-home moms, and you'll find them in about 23 percent of married-couple families with a child under 15 [source: Census.gov]. Many women even leave high-paying jobs to devote their time to their children. So, it's possible to make a family work on a single income, even if you're used to two incomes. But it isn't easy, and you'll have to be prepared for the consequences and sacrifices.
Once they're able to make the necessary sacrifices, many mothers say they're happier for it. In addition to the rewards of being available to the children, it's liberating and even empowering to meet the challenges of living modestly. You'll learn to let go of your attachments to certain products, activities and luxuries and trade them in for simpler pleasures. You'll also be able to teach your children about budgeting and instill them with financial discipline from a young age.
Overall, the key for successfully implementing each of these budget tips is a positive attitude and an open mind. Keep reading for our tips on how to balance both your budget and your bundle(s) of joy.
Finance Planning Tips
Here are some tips to help you with generating income and planning for the future.
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