In days past, we used to consider “one income living” as a term that defined a two-parent household where one parent worked and the other stayed home to raise the children by choice — thus the phrase, “one income living.” These days, one income living defines a larger segment of the population — including two income families, single parents with children and single adults without children — many of whom are living on one income without a choice. One income  living — by today’s definition — is really about learning to live within your means regardless of the number of working adults in the household, level of income or whether or not you have children.

The new definition of one income living is applying more and more to a wider segment of the population — including those who have found themselves out of work or with reduced hours due to the recent changes in the economy. In these situations, families are finding themselves in one income living situations without necessarily making the conscious choice to do so. This is creating a situation where the nuggets of one income living wisdom are beginning to take on new life and become a benefit to an ever-increasing number of people.

While there is no one-size-fits-all formula to successfully living on one income, testimonies abound on the internet and in a variety of  publications of families who are not only living well on one income but are living abundantly. This is an encouragement to many that their quality of living need not be reduced only because their paycheck may have been.

One income living starts with a change in how we think and how we relate to money. It is a process of learning to rearrange our true priorities and weed out the fluff and stuff unnecessary to our lives. It is learning to develop a greater sense of resourcefulness, creativity and self-sufficiency and a way of looking beyond monetary limitations to see the greater possibility. In this sense, one income living can become a gift instead of the overwhelming sense of deprivation that some would imagine.

What families who have devoted themselves to the principles of one income living have learned is that the disciplines that come with it actually bring freedom — not deprivation. They become free from debt, free from financial fear and come into a greater understanding of the benefits of patience and self-restraint. They end up saving more money than they did on two incomes and have more purchasing power, more freedom to pursue their personal passions and have found a type of peace and joy that comes with contentedness.

That doesn’t mean sacrifices aren’t made. It does mean that the sacrifices count for something. In this way, the true priorities of life take precedence over things of lesser importance — things that usually distract us and deplete our financial resources, coincidentally.

There is beauty in simplicity, and learning to live abundantly on one income brings us back to a level of simplicity that clears up the complications and confusions of life. It becomes a state of being rather than just a way of living and affects every area of life in terms of how we choose priorities, face challenges and live our lives. It sets us free from working solely to earn money and allows us to pursue passions instead of careers.

Yes, it is possible to live well, live abundantly and live in contentment as a one income family. Even if only for a temporary season in life, the disciplines and principles that will be developed will reap benefits that last a lifetime.

Last 5 posts by Susan Williams

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