How we keep all these kids in clothes without losing our shirts: Part 1
Last fall I posted here and here about ways our family saves money. Ally’s asked me for a more indepth look at what our family does do be able to support (soon-to-be) six people on one income, without going into debt.
We’re a military family and my husband is the sole breadwinner in the house. Our kids are 4, 2 and 13 months, and Numero Quattro will be making her arrival in October. (Yes, I’m busy.) Before we even married we discussed that I’d do the SAHM thing – it’s very important to us to raise our own kids. And we really couldn’t afford childcare for four of them anyway.
We’re completely debt-free and I’m pretty proud of that – particularly because when we married we were swimming in it. We both had student loans and hubs had a car payment, to the tune of over $25K owing altogether. I didn’t sleep well at night.
Two deployments (which bring in extra cash) and a tight fist around the purse strings is what got us into the black, even amid a stack of babies. Here’s how we do it:
“Bring all the tithes into the storehouse so there will be enough food in my Temple. If you do,” says the Lord, “I will open the windows of heaven for you. I will pour out a blessing so great you won’t have enough room to take it in! Try it! Put me to the test!”
Basically, we only spend money where we have to. The first step in balancing a budget between six people is to clearly differentiate between needs and wants, and divide the fun money equally between us all.
Check back for the second part of this post, where I will share the top 5 expert-recommended things I won’t do when it comes to handling our big family’s finances.