Friday, February 25, 2011

How to Survive in a Single Income Family living in Singapore.....

It's easier than you think it is.

But, like any other changes in life,
the 1st step is always the most difficult.
As long as you take the first stride and keep the faith,
all things are possible.

1. Make the decision as a Husband & Wife

2. Decides who stays and who brings home the bacon
Both roles are equally as demanding, 
so please do not ever think that one 
or the other party is having the easier role!
(I would suggest setting ego aside for this task.)

3. Sit down and draft out your monthly expenses.
Cut away luxury items & only spend wisely

4. NO maids.
(I really do not understand why people still need helper 
when they are FULL TIME Stay At Home Mum or Dad!)

5. Get passive income.
(a) stay in a big big house? rent out a room or 2
(b) Set up internet businesses
(c) Invest or Trade
(which I really would not suggest doing until you really know what you're doing)

6. Stick to the plan and Revise accordingly.

We did it.
I am sure you can too.
It's just a matter of stepping out of your comfort zone.
Are you willing to do that for your kids?

Just some food for thoughts.


Ronda said...

I posted about this a while ago too. You're right, it can be done. We're doing it and I wouldn't trade it for the world! Congratulations to you.

CE said...

It's indeed a blessing to be a full-time mum.
However I guess it could be taxing for those mums with young kids (2 or more) not schooling yet hence the need for helpers. I'm glad I could turn to my in-law for support some of the times since I've no helper :)

Ruth said...

I totally agree with doing away with (or cutting down for a start) luxury items - the happiness these things bring don't last, and true joy, the kind that stays in your heart, are from things money can't buy.