It’s crazy to say it out loud, but we’re officially living on one paycheck now! WOW. The first time ever since meeting my wife a good 6+ years ago… and the funny part is I almost didn’t catch it! (I would have at some point, of course, but it def. took me a few weeks for it to actually hit me ;))
Mrs. BudgetsAreSexy’s been in grad school for so long that I eventually got used to bringing a bulk of the money home myself this whole time. For an entire four years, to be exact – which is pretty crazy considering I used to not even make enough to pay for my OWN stuff, let alone our entire house worth’s! Haha… but that’s what hardcore hustling does over time, eh? Gives you mad options to choose from later when things like this happen!
And now that she’s wrapped up with everything except her thesis (Yayyy!! Congrats honey!!! You’re almost a PHD!), it’s all about the baby and getting used to our new lifestyle – and what that means down the road too, in both the money department, as well as the “what I want to do in life” department, at least for the Mrs…
Will she fall in love staying at home? Will she get antsy and rush off to use her new diploma? Will she finally get her own blog up and running so the three of us can roam the world and live an adventurous life together? These are all answers we won’t find until the next few months are over, but it’s all kinds of exciting ;) And I’ll totally support her with whichever route she’ll end up taking too – 100% – even if it means money stuff is jacked up for a bit!
(As of now, we’ll be out $1,300/mo – the stipend her teacher’s assistantship used to bring in)
I started making a list of all the pros and cons here too – pretty much cuz I’m a nerd like that, and I’m also starting to get a bit freaked out as it’s the first time EVER I’ve been in such a spot ;) I know it’ll all work out as it always does (esp since I’ll be even more hypervigilant with our finances now!), but it still feels good to put it all out there to see what it actually means in the “real world”…
Here’s the list:
Pros of New Lifestyle
- Mom will have more time to spend with new baby
- Mom will (hopefully!) be able to work on her thesis with more focus!
- Mom can regroup and figure out what mom wants to do down the road
- Dad will feel like he’s providing more, just like HIS dad did growing up (awwww)
- Mom and dad will save lots of money foregoing day care in the immediate future
- Mom and dad will be able to see once and for all if the “one paycheck” method works!
Cons of New Lifestyle
- Mom and dad lose $1,300 in cash EVERY month
- Dad gets more pressure to keep up business and continue providing for his family (Which dad is very very nervous about!)
- Dad gets more pressure to also make *more time* for new baby as well – not just business!
- And lastly, potential new expenses in insurance department as new baby and stay-at-home mom may not be able to get it anymore through school (details currently pending)
So a lot of good pros here, as well as a few new concerns… but all I know is I’m ready to finally jump in and get to the challenge! :) As long as mom and baby are happy and healthy, I know we can figure out the rest! Less than 3 weeks more to go too – we’re getting to the deadline… It really hit us HARD last week too when a couple in our baby class gave birth out of nowhere 5 weeks early!! Which means there’s nothing stopping ours from coming out too – can you imagine? If I come back to this post 2 hours later to show you a picture of the new babe? FREAKY!
But that’s enough baby talk for now, I’m sure we’ll all be tired of hearing about it soon ;) In the meantime, I’m gonna go re-read my post earlier in the year about living on only one salary to give myself a pep talk, haha… remember that one? Who woulda thunk 6 months later we’d be giving it a shot! Wish us luck, everyone!
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!