With the possibility of one income I spent a bit of time playing with a spreadsheet to see how we would cope long term (at the moment we have some in income protection insurance coming in as my dw was laid off last Oct - but thats good for 12 months). I did my first draft of a 2008 plan with one income, and provided we save this year for the big yearly expenditures, insurances, taxes, services we should be OK I think if we stay on budget - and this year (so far) we are showing that we can stay on budget - possibly even under budget. I had a 'feeling' we could get by on one income - what I did today was to see would we still be able to save a bit as well - or would it all just pile up on top of itself in 2009 - It seems crazy to be talking about 2008 and 2009 now - but we are considering my dw staying out of work to mind the kids and I'm trying to see if we can really afford this or not. For the moment it gives us something to talk about at home - the joys of budget spreadsheets!!!
January 17th, 2007 at 08:25 am