I originally wrote this as part of the “frugal living” series a long time ago. However, I believe the principles apply whether you’re a stay at home mom or not!

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There are a few principles necessary for most of us to make it on one income. Here are some that come to mind.

Generosity

Yes, you read that right. You can’t out-give God. We shouldn’t give so He’ll bless us, but the bottom line is that when we give, He gives back–abundantly. I’ve seen Him do it! Start with a tithe (10% of your income) given to your local church. Beyond that, look for ways to give money, time, possessions, talents, and resources to others. Even if you don’t receive a tangible blessing as a result, know that you’re laying up treasures in Heaven where it really counts.

Frugality

Obviously our culture is designed for the lifestyles of two-income families. For those of us who have made the choice to be homemakers, it takes a good dose of thriftiness to manage our families with today’s cost of living. We have to learn to be frugal mamas!

Contentment

In our materialistic culture it’s difficult to differentiate between wants vs. needs. If we are going to successfully live on one income, we must learn to be content with what we have. The Apostle Paul learned this lesson. In Philippians 4:11 he said,…I have learned in whatever state I am to be content.” We don’t truly need as much as we often think we do.

Thankfulness

Thankfulness goes hand-in-hand with contentment. When we are grateful for what God has given us, we don’t always feel compelled to have more. Let’s remember that if we own a home and a car we’re richer than 95% of the world. That helps put it in perspective!

Patience

Patience saves a lot of money. It’s hard to get past our culture’s must-have-now mentality, but when we do, it’s worth it.

Unselfishness

We have to let go of feeling entitled to certain possessions, luxuries, opportunities, and even our own time. We must put the wants and even sometimes the needs of others before our own.

Sacrifice

When we are unselfish, sacrifice isn’t so hard, and in this wealthy nation I remind myself that my “sacrifices” aren’t that significant anyway. Try to keep the big picture in mind.

Creativity

Frugality doesn’t have to mean spartan living. Be creative! Don’t settle for the bare minimum. Find simple ways to make your life beautiful.

Joy and Laughter

Your family will love having you at home when you are full of joy and make home a fun place to be.

Commitment

If you make the choice to stay home, the only way you’ll succeed is to be absolutely committed to it. Stay the course, even when it’s hard!

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Remember, even if these are qualities you don’t have, God can help you develop them…And the discipline of becoming a homemaker may be the catalyst He wants to use!

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Here’s a little rhyme that was popular during the Great Depression. It’s a good reminder of how to make a little go a long way.

Use it up, wear it out,
Make it do, or do without.

Food and gas prices are going up, everyone knows that. I think ways to cut back have been on everyone’s mind these days, especially single income families (and many 2-income families as well).

I’m starting a little series on frugal living. I want to share–and ask for your input–on ways to be good stewards of the resources God has blessed us with. Frugality doesn’t have to be a bad word! Learning to be careful with our finances simply enables us to live as well as possible on what God has blessed us with.

Some time back, I did an informal survey of some stay-at-home moms I’m acquainted with online. Although I didn’t ask anyone to share incomes, most of them volunteered that their families lived on less than $50,000 per year, many of them on much, much less. All had at least two children, most four or more. Most had little if any debt, including car notes.

They shared wonderful ideas on how to save money. But the general consensus was that the biggest factor in making it on one income is attitude. They believe that the sacrifices they make are worth it, and they take care to live with joy and contentment and not fall into a poverty mindset. They’re thankful.

So whether you’re a stay at home mom or not, what are your favorite frugal tips? Do you think that attitude is as vital as what we do with our cash? Any other thoughts?

Growing up, my parents were wonderful examples to me in the area of money. My dad, an accountant, has always been conscientious. (He’d worked multiple full-time jobs to pay his own way through college while supporting a family, something my grandmother was endlessly proud of—and rightly so.) But when I was little, they decided to get on a budget and get out of debt completely, even though we were a one-income family. I vividly remember the day they paid off their mortgage, when I was about 8. That’s something most people only dream about, but they planned wisely and sacrificed to make it happen.

I’ve seen what a great thing a totally debt-free life has been for my parents. My mom tells how freeing it was to never have to wonder if that check was going to bounce. My parents are in their 60’s now, and for many years they have owned a home with barns, animals, and farm equipment on 75 acres, along with 2 vehicles, absolutely debt free—and on just one middle class income. They have a life most of us only dream about.

Living debt-free wasn’t just a gift to themselves, though. I can’t stress enough what an amazing thing it was for us, their children. Not only did they give us a wonderful example, but we had the joy of living with parents who weren’t stressed about money, who didn’t fight or have tension about money—in short, who were at peace with their finances.

I’m so excited that First Baptist Church is now offering the tools each of us needs to have financial freedom! Dave Harris is (for the second time) leading Financial Peace University, “a Biblically-based accountability curriculum that teaches you how to make the right decisions with your money.” The reports that came out of the last FPU class were absolutely awesome. Just over 20 families paid off around $82,000 in debt and saved $56,000 in only 13 weeks!!! FPU teaches you how you, too, can be debt free and save money so you can experience financial freedom.

Anyone (local, of course) can participate in Financial Peace University, whether or not you belong to First Baptist Church. Orientation is Sunday, August 3 at 11:00am or Wednesday, August 6 at 6:00pm. The classes begin Wednesday, August 20 at 6:00pm. For more information, call the church office. (Contact info here.)

Do it for yourself, or do it for the sake of your kids, but I know you’ll be glad you did.