What kind of a life change, you ask? Well, a frugal one of course.
The last few years we have been fortunate enough to make enough money for everything we needed and a fair amount of what we wanted. At least what I thought we wanted. Since having my daughter, what I want has changed a great deal. This change has not happened overnight. It has been a slow progression. I was not one of those moms that could not go back to work after I had my daughter. After taking 4 months off for maternity leave, I was ready to go back to work. I was going crazy at home and I craved adult conversation.
Fast forward 2 years, I am going crazy at work and I hate sending my daughter to daycare. So, I don't want to go to work and she begs me to stay home most mornings. I want to spend more time with my daughter and provide a better home environment for our entire family. To do this, it is going to mean some serious changes in the way my family lives.
I sat down a couple of weeks ago and created a snapshot of the family expenses to get an idea of where we were and where we needed to go. I was pretty surprised by how much money we really make and should be saving. In this day of online bill pay and online banking, we don't really look at our finances that often.
Years ago, I made hardly any money and I owned my own home. I was broke but getting by. I was the queen of budgeting and knew where every penny I made went. Now, I have no idea why I never have any money in my personal account. Well, that is about to change.
Starting July 1, we are going to do a single income family test run. I am certain we can live without my income. I know a ton of families that do it. Heck, I did it for years. The test is going to show us how much our lifestyle will be affected by the change and see if it is a change we can live with.
I am not trying to brag here. I know how incredibly lucky I am but want to document the starting point of this journey that my family is going to undertake and there are going to be times where I need guidance. I have been lucky enough to have friends out there that are supportive and can keep me on track to achieving my goal.
So, starting today, I have 51 days to get my ducks in a row. On July 1, my income 'disappears'.
Am I ready for this challenge?