Incomes: 2 incomes to 1 income

New state, new school, new house, brings another new. There have always been 2 incomes in our household, but with this move we will be going down to 1 income for the time being. The decision was made that my wife will wait to get a job. This will ensure our daughter is fully adjusted to the move, especially school. Since my wife is a teacher, we figured that most school positions were filled already since school started almost a month ago in Georgia. In fact, she applied and already received an interview, but again the best decision at this time is to wait.

A major benefit is that my wife set her current pay to continue to get checks over the summer. By doing this we received 2 incomes throughout the summer. The month of September will be the first month without 2 incomes. In the past, I would have panicked if we needed to go down to 1 income, now I am ok with it. I understand and clearly see our financial position. I am confident with our situation and we have a solid plan to continue to move forward.

Being on 1 income we will be able to cover expenses and continue to save, but just not save at the same rate that we have been. Once we are back to 1 mortgage, it looks like we will see a $500+/month decrease in overall expenses.  That will help and was one part of the overall strategy to move, lower expenses. It could also mean an impact in our overall goals and time to reach FI.

This change will definitely have an impact on the amount we can save per year, but I have decided not to change our goals. It will mean we will have to work smarter to reach those goals and reach FI. Challenge accepted!!!

Have you gone from 2 incomes to 1? What major adjustments or changes have you made?






  1. It’s always just been my income since we have been married. My wife is a teacher as well, but she is raising our children now (she also did the summer paycheck thing when she quit). I am sure once I retire she will go back to work.

    The thing is that we still save plenty on just my about average income!

    Still, I dream about how supercharged our investments would be if we had two incomes coming in…

    I know you will be just fine. Think about how strong your saver-fu will be when you go back to two incomes! It will rain dolla dolla bills, ya’ll! 😀

    • Glad to hear someone else is in a similar situation and it is working out. Based on everything scenario I have been able to come up with and run numbers against, you are correct we will be fine. Thanks!

Leave a comment

Please be polite. We appreciate that. Your email address will not be published and required fields are marked