December 7, 2009, 5:11 am

Going Back to the Old Model? A Look At a Single Income Family

by: The Financial Blogger    Category: Personal Finance
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Last week, I was announcing The Financial Blogger’s 3rd anniversary (don’t forget to sign up for the iPod Touch Giveaway!) and many of you were asking about how I manage my career, online business and family. Being a man of many projects is surely not an easy task on a day to day basis. However, we (because my wife is as important as I in this story) found ways to spend time together and with our children while I can pursue my projects and make sure our family doesn’t lack for anything.

Going back to the old model

Funny enough, when women walked out the door heading to work back in the 40’s-50’s, our whole family model changed. The boomers didn’t notice much as half of them didn’t feel the change. However, for the young X’s and all the Y’s, we play a totally different game.

This game, I ahve named it before; The Rat Race Deluxe. We both work, we both make money, we both have a new car, we both have a career, we buy a bigger house, we go for a better vacation, for a spa… and we are both dead beat tired when we finally make it home. We can barely put up with her children for more than an hour and we are just looking forward to the ned of the day when they go to bed… just so we can do the same but we fall asleep in front of TV instead 😉

Unfortunately, this is what thousands if not millions of families live through on a daily basis. I was lucky enough to have a wife that doesn’t need a power suit and the career to match, she wants to spend more time with our children and take care of the family. I said I was lucky because I wouldn’t impose on her (as I wouldn’t want anybody telling me that I should stay home). However, I dearly wanted to share my life with someone who wants to look after our children. This is how I was raised and I really liked it. Don’t get me wrong, I am not judging parents with double income households; I am just saying that this is not what I wanted ;-).

Back in May, my wife decided to quit her job and take care of our children full time. She is also going back to school at the same time since we both know that our children will prefer playing with their friends once they are old enough to go to school!

We tried to make it work with 2 jobs but it was just a crazy life: we were paying for a housecleaning lady because we were too tired to do it ourselves (not to mention that I really hate cleaning anyway ;-)) and we used to spend our weekends doing groceries and other small tasks, it all reminded me of the hamster running in circles on the wheel in his cage.

Since my wife has stopped working, we now spend all our weekend time with our children having fun 😉

I am lucky enough to love a job that pays well. In addition to that, I am building an online income on the side to ensure the financial independence of my family. Considering these factors, we thought we would be making enough money to live on a single income and enjoy life instead of racing in the Rat Race Deluxe.

Since I work four days a week, I don’t spend much time talking and babbling with other co-workers. I usually close the door to my office and work hard. At lunch time, we share some laughs and then, it’s back to work. My vision of coming to work has changed since I am working less. I know realize that I am lucky to work and have a good job. So I actually work harder to make sure my situation doesn’t change ;-).

I don’t mind coming into the office at 7AM and start working right away. However, at 5pm, I am gone! At that time of the day, the most important thing becomes taking care of my family 😉 I think it is really important to take the time to talk to them and play… I’ll have plenty of time afterwards to be tired and whine about my day 😉

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Sounds like you plan is working out well. I would love to switch to 4 days on and just grind out the 10 hour days. It’s too bad living in Vancouver dosn’t allow you this flexibility since housing is way too expensive. Maybe it’s time for a move?

by: The Financial Blogger | December 7th, 2009 (4:06 pm)

Don’t want to brag about it, but my house (20 minutes away from Montreal) worth 325K. If it would be 20 minutes from Vancouver, it would probably worth 800K 😉

Sell your house, move to Montreal and you’ll have your retirement saving plan done at the same time 😉 hahaha!

TFB – But then you have to live 20 minutes away from Montreal! Vancouver rocks! 🙂

by: The Financial Blogger | December 8th, 2009 (5:26 am)

I really like Vancouver too but we have the cutest girls 😉

And what is 20 minutes when you can save 500K on a house 😉