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Many families have more children. At a certain stage, one spouse must stay at home to take care of children and elderly parents or families. If this is the case in your family, please refer to the following golden ideas and think about what to do:
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Coordinate the income of both parties: If you and your partner earn almost the same amount of money, one person wants to resign, and it will be difficult to support the family on one person’s salary alone. If the family expenses are shared equally by two people, it may not be realistic to rely on one person now. In this case, the party who wants to stay at home may need to work at home to tighten the budget gap. If one party’s income is half lower than the other party’s, less than one third of the family’s total income, it will be easier than you think.
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Reasonable benefits: Some benefits can be easily obtained from a single family. For example, the daytime care fee will be saved, which will make you more willing to make such changes (to support the family alone). You will also be surprised to find that with less income, the income tax required will be reduced more than you expected. Because the marginal tax rate corresponding to this income is usually greater than the effective tax rate corresponding to the total income of two people, you will find that the tax paid is reduced along with the income.
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Cut the cost of your car: Depending on your situation, you have to make other decisions. When working as a dual employee, you may have provided two cars or two good cars. It may be necessary to sell one now. Car maintenance, especially new car maintenance, costs more than you think. You think that a new car is just like a cheap car. It doesn’t use much fuel to drive, and you don’t have to send it to the store often for maintenance. But they are slowly depreciating, using up your money to buy a car and a house. There are more insurances on new cars than on old ones, and they are more expensive to replace. Think about whether you want to sell a car, and if you can sell one, which one you want to sell. By cutting the cost of cars, it is possible to gradually tighten the budget gap.
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Don’t spend money indiscriminately: see if you have the problem of spending money indiscriminately. If you don’t spend money indiscriminately every month, you may not save much on this item; If you just feel frugal, take a comprehensive look at yourself, and you may have a chance to reduce your spending.
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It seems ironic to save money for children to go to college: stay at home to take care of children, but the money saved for children every month has to be reduced; But over time, children may feel more happy to have their parents at home with them than to get more money for college. The difference between those who attend private prestigious schools and those who attend local universities lies in: first, the tuition is more expensive; 2、 It’s more comfortable to leave home. It is a little surprising that their education is not very different.
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Saving for retirement: If you can save for retirement, your savings will continue to double; If you have to cut your retirement savings, you’d better not stop paying them at the same time. It’s better to save some money and wait for years to add up!
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Decide where to live: Moving is very expensive. Don’t consider it unless you encounter extreme circumstances. If you really bought a house, now you only have one income. You are hard pressed to afford it. In order to balance your income and expenditure, you have to move. Living in a 2000 square foot house or a 4000 square foot house can make a family live a healthy life. The child will even thank you because there is no need to do a lot of housework on weekends. However, you can move when you really want to live in a much smaller house. Otherwise, even if you live in a smaller house and pay less for the mortgage, the cost of moving will also cover the financial benefits of the house change.
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Seriously deal with it, and always find a way to make the whole family live on one’s income. It is almost certain that among the people you know, there are people who live the life you want, one at home, one at work, living on the same income as you expect. Look more and learn more.