Hi Dr. Laura,
I was a stay-at-home mom from the time my first child was born until my youngest child was 16. We had five children and we made it work financially, in part, by doing the following:
- Not incurring debt.
- Paying off our mortgage before having children.
- Using coupons for grocery shopping.
- Buying our clothing at second-hand clothing shops.
- Not going out to eat except for special occasions and then, going somewhere that wasn't terribly expensive.
- Taking advantage of free family activities in our area.
- Waiting until movies were showing at the "cheapie theatre" before going to see them.
- Having only one family car - I was the chauffeur - drove my husband to work and my kids to school, sports, etc.
- Not spoiling our children with excessive toys etc.
- Not expecting that we were entitled to an expensive family vacation every year.
Even with 5 children and one income we were able to save a substantial amount of money including funds for their university/college education. Was it inconvenient sometimes? Did our kids whine sometimes? Sure, but we didn't suffer and we are now in good financial shape and our kids are doing just fine.
Thanks for all you do!
Doreen
