Tips: Can You Afford to Quit Your Job?

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[Editor's Note: I made my first "how much do I need to live" spreadsheet with my dad shortly before I graduated from college. It was, shall we say, eye-opening. And I sort of wondered how my parents had raised two kids on one income. Actually, I still wonder that, but bygones. Ashley and her husband came up with three different scenarios to figure out how much they would need to live at different levels, which I think is really smart. Read how she did it! -Rita]

SAHM: Money Matters

By playing around with various scenarios and deciding what concessions we could easily make, we got a better handle on how much money we needed to come in every month. Where each of those dollars was going. And exactly how low we could go in an emergency, because as we have learned this first year, high ticket items like car engines and furnaces like to break down when money is already tight.

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Credit Image: Karen Eliot on Flickr

Read more from SAHM: Money Matters at Writing Chapter Three