Salary

Single and Living on One Salary
By: Samantha Asher


Article Summary: If you are single, is it possible to live on one salary? Of course it is, but can it be done well?

There are many financial benefits to being single. First of all, you only have one person weighing in on any and all

financial decisions. You don't have to ask your spouse if it's okay to buy that computer you have been wanting or if you can

lease that car you desperately need. Second, you can manage your money exactly how you want. You don't have to make a budget

and make sure your family is okay with it. Finally, all the money you make is 100 percent yours. You don't have to spend it

on anyone else. You can do whatever you want with it.

Though there are some definite financial perks to being single, it isn't all great. For one, you can't share the

responsibility with anyone else. If you make a poor decision, it is 100 percent your fault. If there is a difficult decision

to make, you don't have anyone else to lean on. But the biggest problem of all is that you only have one salary. If you make

a large salary, this probably isn't a big issue for you. If you make plenty of money to live on, there's no problem there,

but if you make a small salary, it can make things harder on you.

When you get married, you then have two salaries for two people. It isn't equal to two single people living on there own each

with a salary because there are a lot of things the two can share. If you are comfortable with it, you can buy or rent a one

or two bedroom small home for the same price as someone single. You share the cable bill, the phone bill for landlines,

internet, utilities (they may go up a little with two people, but probably not double), health insurance, and several other

things. Plus, there are tax benefits to being married.

If you are uncomfortable living by yourself on one salary and you plan on eventually having a family, you will just have to

work toward making more money or saving more. If you think it's tough now, wait till you have a family and are living on just

one salary. This is definitely not the worst financial situation you could be in.

If you can't make ends meet, or you aren't able to save for retirement, first you need to make a budget. You need to start

spending less so that you can save more. If this still isn't enough, go back to school so that you can get a better job, ask

for a raise, look for a higher paying job, or get a part time job. Once you are bringing in more money, you will have more

money that can earn you a passive income. Don't stress out over living on one salary. Do something about it!

Article Source: http://www.upublish.info

About the Author:
Samantha Asher
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