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How to Raise a Family on Less Than Two Incomes: The Complete Guide to Managing Your Money Better So You Can Spend More Time with Your Kids
Many parents today believe that two steady incomes are not only desirable but absolutely necessary in order to raise a family. Yet most full-time working mothers say that if it weren't for the money, they would not work, and instead would stay at home with their children. After the birth of her second child, Denise Topolnicki faced this common dilemma: Continue working full-time, or spend more time with her family? As a former editor of Money, Denise used her financial expertise and discovered that she could work only part-time and be at home for her children--while not breaking her family's budget.
By combining her investment know-how with compassionate advice, Denise gives parents a clear-cut strategy for controlling their money--from saving on food, to creating a cash reserve, to learning how to retire on less than two incomes. Packed with worksheets, detailed plans, and inspiring case studies, Topolnicki's plan helps families set fun priorities while still balancing the checkbook. Whether you want to leave work altogether or continue part-time, this book is the key to freedom for millions of families trapped on the working-parent treadmill.
From the Trade Paperback edition.
By combining her investment know-how with compassionate advice, Denise gives parents a clear-cut strategy for controlling their money--from saving on food, to creating a cash reserve, to learning how to retire on less than two incomes. Packed with worksheets, detailed plans, and inspiring case studies, Topolnicki's plan helps families set fun priorities while still balancing the checkbook. Whether you want to leave work altogether or continue part-time, this book is the key to freedom for millions of families trapped on the working-parent treadmill.
From the Trade Paperback edition.
352 pages, Paperback
First published January 1, 2001
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Displaying 1 - 9 of 9 reviews
September 15, 2017
This book probably had some good advice, but it was so dang boring that I couldn't really absorb much of it. I am frugal and I care about saving money, but Topolnicki's book goes a bit too much into the weeds of stuff that is a little too "economic" for me, like various types of retirement plans, college savings funds, etc. I just want to know how to pay my bills every month!
This book is fairly old, and because Topolnicki's advice is SO specific, it dated itself far more quickly than more general advice would. She gives SPECIFIC amounts that you can expect to pay for things like insurance, mortgages, etc., which doesn't do much good to a reader 20 years later, not to mention that price tags can vary widely from one part of the country to another. Also, it's super annoying that she assumes the stay-at-home parent is going to be the mom, even though she's upfront from the beginning about this assumption. And the fact that she just expects the husband to shoulder so much of the economic burden also rubbed me the wrong way -- there are several places where she suggests hubby get a second job so Mom can stay home, essentially depriving him of any sort of family life whatsoever. Following all the advice in this book might help your family financially, but it could be hell on your relationship.
This book is fairly old, and because Topolnicki's advice is SO specific, it dated itself far more quickly than more general advice would. She gives SPECIFIC amounts that you can expect to pay for things like insurance, mortgages, etc., which doesn't do much good to a reader 20 years later, not to mention that price tags can vary widely from one part of the country to another. Also, it's super annoying that she assumes the stay-at-home parent is going to be the mom, even though she's upfront from the beginning about this assumption. And the fact that she just expects the husband to shoulder so much of the economic burden also rubbed me the wrong way -- there are several places where she suggests hubby get a second job so Mom can stay home, essentially depriving him of any sort of family life whatsoever. Following all the advice in this book might help your family financially, but it could be hell on your relationship.
February 28, 2013
While I do think this was an interesting book, a lot of it just sounded like no-brainers, or there is better information on the subject elsewhere. Instead of looking into the suggestions of transferring credit card balances, borrowing against your life insurance or 401k, or getting a home equity loan and the like, perhaps it would be better to read something by Dave Ramsey. His suggestions in Dave Ramsey's Financial Peace University. and The Total Money Makeover: A Proven Plan for Financial Fitness are much better suggestions for getting on track. This author does a good job showing how a family can cut back and live on one income, and financially it's probably not going to make that much of a difference. However, when it comes to saving and living below your means, I wouldn't choose this book over the others I've listed.
June 23, 2009
Finished! (needed to in order to return to the library. At points it was helpful, there were a lot of things in terms of investment strategy that I either already knew or are obsolete (It was written in early 90s and financial info changes very rapidly... please check specific rules before you jump into an investment strategy.) The most beneficial portion is the timeless tips and reminders of how to save more and spend less.
March 8, 2012
This book is a how-to on leaving your job to stay at home. Seeing as that is not the situation I am in, it didn't do a lot for me. I think it's a great book if this is your situation. If you are just looking for great financial advise and how-to's, just read Dave Ramsey's books or take his class. I did and I have done or knew over 90% of the info (ie: refinancing, insurance choices etc) this book had to offer.
May 14, 2011
Very similar to Staying Home Instead: How to Quit the Working-Mom Rat Race and Survive Financially More suggestions on how to spend less money.
December 14, 2007
It was definitely helpful with some financial tips, especially with taxes, savings, life insurance and planning for retirement... and it had some good advice with ways to cut back on some expenses- but the rest of it was mostly common sense.
March 15, 2008
This book has many practical suggestions for reducing spending. I like the way she lays them out in a non-overwhelming fashion, and that she hits on areas like insurance, mortgages, and health care. I think I'll be saving money in a few new places becasue of the information in this book.
August 4, 2009
Some of the suggestions were really obvious. However, I definitely got some good ideas and actually feel inspired to take action.
November 15, 2010
I wasn't thrilled with this book. A lot of her ideas were obvious and others were obscure. I can sum up what this book says in about an hour - so call me instead of wasting your time reading this!
Displaying 1 - 9 of 9 reviews