One of the key factors in successfully living on one income is to learn to live below your means. Doing this may be easier said than done, however I will share some tips that have helped my husband and I along the way.

1. Reduce all of your discretionary spending until you no longer need to spend the families second income. This statement speaks for it’s self in saying that anything not essential to living may be the culprit in shifting from a two income family to a one income family.