The Early Years for Couples and Budgets
self help contributors article

Prosperity and financial wellbeing self help article:

“ I am a 20-year-old housewife. We have no kids yet, but we only live on one income, 13K a year after taxes. My husband works full time and goes to college.

I stay at home and keep house. I was wondering how other people managed those first few years of hardship and how they managed to keep afloat and happy. “ -- Amber

Surviving Couple's Tips

I have so many ideas because my husband and I were in the same boat. We also lived as a one income family. But seven years later we are still happy and surviving.

Do NOT get into credit card debt! That is a huge downfall, if you can't afford to pay for something up front with cash, save up for it. You will appreciate it more knowing that you paid for it with your money and not your credit.

Learn to cook from scratch. I now feed a family of four on $200 a month and we eat well everyday, but I cook everything from scratch. Buy a good cookbook (Betty Crocker or Better Homes and Gardens). Even though it costs a little more for these books, they are well worth it.

Learn to be very frugal. Don't pay for cable if you get local stations with an antenna. We didn't even have a TV for our first year together and the first one we got was given to us. We still use it today.

For whatever reason you don't work, find ways to make extra money. Watch a neighbors kids, make crafts, sell what you bake to friends and family who don't have time or get into a home based business.

Don't spend a lot of money on gifts for each other. My husband could never afford to get me a card for any occasion so he started making one before he left for work that day (Valentines, Birthday, Anniversary). I appreciate something that he made opposed to something he would have bought.

Spending time at home playing cards, board games or so on opposed to going out to dinner or movies is much cheaper and you enjoy it more because it is spent with the one you love instead of a theater full of people or a rude waitress.

Make friends with couples. You will have someone to talk with that understands you, and you will have a couple to BBQ with, plan outings with, and so on. It will also give you a way to have fun while splitting the costs of the event you plan on doing.

Never try to keep up with the "Jones'." Be grateful for what you have. Nothing is perfect, and with some planning and saving, you can have anything you really want. Only buy what you need until you are in a position to buy what you want! -- Dawn – MO

Check Out This Book!

The best thing that I can tell you is to go to a library and check out The Complete Tightwad Gazette or any of the first three gazette books. The author is Amy Daczachyn. These are excellent books and offer suggestions for every situation. -- M Holland

Find A Job

The best thing you can do to improve your finances right now is to get a job! With no daycare expenses and a healthy dose of frugality, you can save most of your income for the time when you do have kids and want to stay home with them.

Make sure you don't spend your income on conveniences. Do your housekeeping, shopping, and cooking while your husband is studying. -- S. Nelson

Hindsight is 20/20

Your question brought back a lot of memories of our struggles when my husband was going to school and held a job. I took care of our home.

If I had to do it over again, I would use my free time to learn about financial matters. This may sound boring, but checking books out of the Library, such as "Financial Peace" by Dave Ramsey and "The Complete Cheapskate" by Mary Hunt would certainly have given me insights about handling money that would have benefited us for the rest of our lives.

Also, I should have used the time to learn cooking skills, join a web site like Flylady.net, go back to school, do volunteer work, or even get a part-time job. The time goes by so quickly. In hindsight, I see a lot of my time was wasted watching TV and doing menial stuff that really didn't matter over the years. Good Luck! -- MR

The Happiest Time of Life

My husband and I also lived on a very fixed income when we were first married and in college ($7,200 a year). It's difficult. However, looking back (we've been married for almost 18 years), those turned out to be some of the happiest times of our lives.

Here are some of the things we did to get by happily.

I got a part-time job. Sure, it only paid minimum wage, but every little bit of extra income helps out. Plus I still had time to keep our household going.

Scholarships. My husband was one smart cookie. We researched scholarship opportunities at the college financial aid office, applied for relevant ones and received three or four over the course of his time as a student.

Some were large, several were small. However, even the small ones paid for books each quarter and you know how expensive they can be.

We made menus and shopped with a list. We purchased our milk from a local dairy. Cheaper and fresher. We clipped coupons and shopped sales. I cooked simple, tasty meals from scratch. We minimized expensive, packaged foods.

We couldn't afford much for entertainment, so we tried to maximize our money. Can you believe that our first year we went to Dairy Queen on Friday nights and bought two Dilly Bars for $1?

Then we drove up on the highest hill overlooking our town and sat and watched the sunset and ate our delicious ice cream treats. We still remember those "dates" and how special they made us feel.

We got together with friends and watched videos and ate popcorn. Another form of cheap entertainment. If things are really tight, get your videos from the local library rather than the local Blockbuster.

We used our library to get books and music rather than buying them.

We walked as much as possible rather than using our car. This saved gas and provided exercise.

We talked to one another about what we would do with our future. Made plans, dreamed about the house we would own, etc. This is fun and free, plus it helps you realize that you are sacrificing today for a better tomorrow!

Hope this helps. Hang in there. You too will probably look back on these lean years and realize how wonderful they were. - - Lisa

Fine Tune Your Budget

Develop an envelope system for your weekly budget. You can buy a plastic mini-accordion file at the Dollar Store.

Label each tab with an expense, such as gas, dates, food, allowance, etc. Then, at each payday, pull out the money needed at the bank and distribute it to the appropriate slot. Only use this money throughout the week and use your checkbook to pay bills.

Using cash works as a visual tool simply because you won't use money that's not there. Whereas with credit cards and even debit cards, it can be easy to use more money than you should. -- Susan

Accumulate Cash Now

Here are some ideas:

Get as high-paying a job as you possibly can, but don't use the money to pay bills, etc. Put all of your salary in some kind of interest-bearing account. Do this until you have a baby.

Delay starting a family for several years and keep accumulating as much money as you can.

In your spare time, check your local library for books on living frugally and eating healthy but fugal meals.

Do not go into debt for any reason. – Merv

A Word of Encouragement

Congratulations on deciding to stay home and keep house! You would be surprised how many people look down on that, but don't listen to them because it's wonderful that you are doing it.

When I first married my husband, I stayed home during the day, although I had a paper route. The paper route brought in no more than $200 a month, and my husband made $15,600 gross.

I quit my paper route pretty soon after we were married, so we were down to what my husband made.

We rented an efficiency apartment from a relative and were able to pay less rent that way. Living in a one-room house actually brought us closer together. We were there for 5 1/2 years. I simply divided up the room into a "living room" and a "bedroom" with our entertainment center and dressers.

We were considerate when one wanted to sleep and the other one wanted to watch television. It was easier to clean, too. Our rent included utilities, which was great! We paid $350 per month and eventually $400 per month. I also learned to make the most of my space.

We also drove used, paid-off cars. We bought a station wagon for $200 from a friend and received an old truck for nothing from a relative who had just received a free truck from another relative. Not making car payments really helps.

When we needed home repairs done, I was very specific. For instance, I called a plumber, asked what he charged per hour, told him how much I had, and told him if he had to spend longer than I could afford to just leave. He was done in half the time!

We bought an old, used but nice refrigerator for $175. We searched garage sales and discount stores for that. Food is cheap if you buy in bulk and cook from scratch.

Unfortunately, I did not learn that early on. Get a good cookbook geared towards cooking for two, or cook in bulk and freeze, since you have time during the day.

If you have room for a garden, grow some veggies! Seeds are cheap. My husband worked at a grocery store and got some good discounts, too.

Clothes do not have to be brand name, and if you can sew, they will last a long, long time. Finally keep in mind that the key to happiness is not saving money. Appreciate your husband's hard work, and he will appreciate your hard work around the house.

Remember your mission is to be a good homemaker, and it's a tough job but very, very rewarding. If you and your husband have the same mission for life, you'll be fine. And if you are used to a low income now, children will not affect you as much as people say it will.

Don't listen when they tell you "you're not ready for kids" because that statement is never true for a married couple. - Melissa

Work Outside the Home

Now is the perfect time in your marriage for you to work outside the home so you can save money for when you want to stay home with the kids. When my husband and I were just starting out in our marriage, I worked full-time.

We continued to live off of his income. We were not dependent on my income because, eventually, I wanted to stay home with the kids. My income was put into savings and used to buy furnishings for a future home. -- Denyse

Put Your Skills to Work

I too am a newlywed with only my husband working full-time. We hope to start a family soon so I am not committing to a full-time job. However, I would suggest to Amber that she try to find something to supplement their income. Even a little extra money can take a lot of pressure off.

If you have any skills, put them to work to make money for you! I am a pianist so I have started teaching piano. Selling for companies like Tupperware or CandleLite can also make you a little extra cash and be fun.

Another idea would be secret shopping; there are websites that will get you started in this. It's fun and you earn a little extra cash at the same time. Find something that is flexible enough for you and then just put in as many hours as you want.

Also, make sure you have a budget and stick to it religiously! Be very strict on your spending and don't spend what you don't have. If you want something, scrimp a little each month and then get it.

My last suggestion has to do with your grocery bill. You can save so much in this area if you're thrifty. You're home most of the time, so take advantage of that and don't buy the prepackaged dinners.

Make things from scratch to save money. And don't shop at regular grocery stores! Shop at places like Aldi's or GFS. There's not as much of a variety at these stores but what we do get is generally good quality. I know for a fact that at Aldi's, if there is something wrong with a product, you can take it back for an exchange or refund. -- Elizabeth

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