From the website...Tips for How to Live on One Income
Adjusting to living on one income from two can initially be quite difficult. However, in many ways families living on one income can actually be more secure than families with two incomes. In the book The Two Income Trap, the authors make the case that families who are maxed out living a two income lifestyle often get into financial trouble when one spouse loses his or her job. This happens when two income families have a lifestyle that absolutely requires two pay checks to cover all of their basic expenses such as their mortgage, credit card debt and car loans. For families living on one income, if the main bread winner loses his or her job, then both the spouse who had been working and the stay at home spouse can look for jobs, thus thus doubling their chances of replacing one income. Full Article>
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