Many parents struggle with the question, “Can we afford to raise our kids on one salary?” While it may take careful budgeting and ingenuity, the answer can be “yes.” As you contemplate your choices, here are 10 things to discuss with your spouse and practice as a family.

1. Is Your Spouse Comfortable Being the Sole “Breadwinner?”

The decision to stay home should be a joint one. Your spouse must be comfortable with the fact that there will invariably be more stress as the sole breadwinner. Your spouse must also be supportive of your new needs, such as the need to be respected and valued in your new role as full-time caregiver.

2. Try Living on One Salary.

Try out the “one salary” household before baby arrives, by putting the funds from your second salary into long-term savings (i.e. a money market account, mutual fund, IRA, or other savings). You can use this money at a future date toward your children’s education. In the meantime, you are getting used to living off one paycheck.

3. Calculate the Expenses You’ll Save.

Don’t underestimate the amount of money you will save once you are home. The largest savings that comes to mind is the cost of child care. According to ChildCare Aware of America (see “Child Care in America: 2015 State Fact Sheets” at ChildCareAware.org), the average cost of child care in the United States in 2015 differs from state to state, but it is quite costly no matter what part of the country you reside in. The average annual cost of full-time care for an infant in center-based care ranges from $4,822 in Mississippi to $17,062 in Massachusetts. In Arkansas, the average cost is $5,995.

You will save on a number of other work-related expenses as well: wardrobe costs, costs of commuting, dry cleaning, and lunches out with colleagues. Parents from dual salary homes usually tend to eat out more often than those families with a full-time homemaker. Additional expenses may include: housecleaning services, lawn and gardening services, and animal care. Once you begin to add up all of the aforementioned savings, you will find that you have garnered a large amount of money that you can begin to budget elsewhere.

4. Plan to Save for College As Soon As Your Baby Is Born.

Put as much money as you can afford into a 529 Plan. These education plans allow flexible investment programs and wonderful tax benefits. Remember, it will be harder to save for college on one salary, so plan ahead.

5. Get a Firm Grip on the Household Budget.

The best way to formulate an exact budget is to log all purchases in a “budget journal.” After a few months, you should be able to establish an approximate figure for each budget category. Another good reason for writing items down (or using an app to log purchases) is to verify that you haven’t forgotten a category, such as movie rentals or church donations. Once you’ve established an estimate for each category, it will be simpler to decide where it’s possible to scale back. You will also be able to keep your monthly spending under control because you will be acutely aware of your expenditures.

6. Say Goodbye to Unnecessary Expenses.

Do you hire a cleaning service because you can’t find the time in your schedule for scrubbing floors? Does the word “pedicure” sound familiar? You probably pay for some amenities that are, simply stated, luxuries. Scrutinize your budget and choose those things you can live without. These might include lawn services, pedicures, gym memberships, dinners out and a gas guzzling lifestyle. Instead, try hiring a neighborhood teen for yard work, giving yourself a pedicure, finding free ways to exercise, testing new recipes at home and carpooling.

7. Resell and Repurpose.

Don’t throw things away. Host a garage sale or take your children’s used clothing and toys to a consignment shop or sale. You can make lots of money on your used items. (Our family purchased a swing set with the proceeds from one of our garage sales!)

Try to repurpose as well. For instance, use a child’s wagon as a chic planter or a toy chest to store throw blankets. Buy furniture that converts and grows with your child from infancy into the teen years. The key is to come up with creative ideas to reuse your belongings rather than constantly purchasing new ones. There are hundreds of ways to save by repurposing belongings—and you’ll be helping the environment too!

8. Find Ways to Make a Little Extra Cash.

Many stay-at-home parents supplement income by working at home part-time or in the evening once their spouse has arrived home. Whether it is an entrepreneurial venture or a part-time job to earn some extra cash, many moms are taking in extra earnings while staying home full time with their children. A few at-home work options include providing childcare to working parents in your neighborhood, joining a direct-sell company like Pampered Chef or Arbonne, selling fine art or crafts on Etsy or eBay, tutoring students and freelancing in various fields.

9. Cut Coupons and Find Sales.

I’ve estimated that I save approximately $1,000 per year using coupons at the grocery store. It’s amazing how much you can save if you don’t shop on a whim. Try some of these tips for bargain shopping:

  • Make a grocery list prior to arriving at the store.
  • Shop for clothing after peak season.
  • Take advantage of any “tax free” incentives offered by the state.
  • Shop for power equipment “off season.”
  • Take advantage of stores that will “match any price.”
  • Look for estate sales; AshleysFinds.com sends a weekly newsletter on sales and auctions in central Arkansas.
  • Buy furniture from hotel liquidators.
  • Place a magnetic pad on the refrigerator: Have all family members jot down grocery items, toiletries and other household items that are near empty. This will cut down on impromptu shopping and give you time to comparison shop.

10. Seek Out Creative Ways to Have Fun.

Entertainment needn’t cost a small fortune. You can have loads of fun as a family without having to dip into your savings. Talk to those parents you know with four or more children. These families always know where to find a bargain! You can also look for “family night” or “kids are free” nights at local family entertainment centers. Or, give the great outdoors a try: Go camping; pack a picnic and go on a hike; or, take a family bicycle ride on the Arkansas River Trail. And, don’t forget to take advantage of your local library’s free offerings, from story times to craft workshops.

It may seem like it takes oodles of time and energy to be fiscally successful on one salary, but if staying home with your children is the choice that is right for you, you will experience rewards that are more than worth the effort.

Myrna Beth Haskell is an award-winning author, columnist, and speaker. For more about her book “LIONS and TIGERS and TEENS: Expert advice and support for the conscientious parent just like you” and other works, visit MyrnaHaskell.com.