At the start of a marriage, if husband or wife plans to be a stay-at-home parent, save 100% of the revenue that might stop. Even if married for any years and one spouse might not stay-at-home, as the Lord leads, set a goal, and build a plan to live on one income.
Unless God tells you differently, save the unspent revenue in a Capital Fund or other catalogue you set up specifically to buy major items ("Fund"). Use these funds to pay for big-ticket items that won't fit the operating spending plan. As well, future home schoolers should use this Fund for extra costs that might supervene from the move to one income, such as books, tables, chairs. If in debt other than a mortgage, before salvage in the Fund, put in order a debt reimbursement schedule, and repay non-mortgage debts.
Journey to One revenue Living
If God leads you and your house to live on one income, go for it. You will need His PhD to start, and stay committed:
Patience (Isaiah 30:18) Humility (1 Peter 5:6) Dependence (Isaiah 26:4)
You might find these suggestions helpful:
Surrender every area of your lives to Christ--let Him be Lord and Saviour. Ask Him to hunt you and show you hindrances (Psalm 139:23-24). Too often, we forget that when we surrender to Jesus, He will enable us to live in our income. Recall His promise to give life, food, and clothes...when we seek first His kingdom and His righteousness (Matthew 6:24-34).
Pray (fast as you feel led) individually and as a family. This should be God's will. Without reservations, husband and wife must agree to live on one income. When tempted to think you can't do it, be assured, if it is His will, you will do it in His time (2 Peter 1:3). You can't do it alone--that's why Christ followers have the Holy Spirit living in us (Galatians 3:3).
Once God guides you to set the goal to live on one revenue by a exact date, accept that you won't borrow or use credit cards to raise income. Understand that money isn't the issue, lifestyle choices are. And so, you can't expect a two revenue lifestyle, on one income. You must forego some wants.
Don't go for the home run! Do not stop the second revenue abruptly. Move gradually; start living on one revenue plus, say, 80% of the revenue that will stop. Over an agreed period, lower 80% to zero. If you try to go there in one swoop, you might think it's impossible. As noted earlier, save unspent revenue in the Capital Fund.
Husband and wife should do a household financial plan, along with spending plan, Capital Fund, and Material Worth Statement (listing of stuff owned at store value, less debts). To lower debt or raise cash, ask God if you should sell "valuables."
At first, do not be surprised when expenses exceed the lone income. That's normal, even at the third attempt! Go back, recap assumptions, eliminate more wants, ask God for His insights.
To track future household activities and finances, decide to start a house Council (board of directors for the home) or equivalent. One man should write-up the books, but the house should be complex in household decisions. Get tax guidance about the projected one-income household. You might be pleasantly surprised. Downsize; simplify, think the following: renting instead of owning a home, beginning a vegetable garden, getting a freezer to keep out-of-season vegetables. When God shows you to start; pray, go, keep praying! As you go, monthly in the house Council, recap progress. Don't revise the goal unless God directs.
Summary
Giving up one revenue to be home with children is not a financial, but a lifestyle decision, which job-loss could force on you. It's hard work.
Though Doreen and I were not Christ followers when we decided to live on one income, in hindsight, we know it was right. We sacrificed, especially the first five years when Doreen and our two young children didn't have access to convenient, dependable transport. As a grandparent, I assure you, sacrifices today to train up children "in the way they should go," are small in the big picture--they are temporary, with permanent rewards.
Copyright (C) 2009, 2012, Michel A. Bell
on front page The One income Challenge For Couples - Part 2 of 2 on front page
No comments:
Post a Comment