First, discover where money leaks are occurring. Examine your expenses and detect what you can cut out.
Next, add income. Often, cutting back isnâ€™t enough. Even if it means one of you has to take a job you feel is below your skill level, do what you can to bring in extra cash.
Finally, once youâ€™ve recovered, put preventive measures in place. Continue to live as if one spouse still has not found a job. Surprisingly, some studies show that two-income households tend to be worse off than single-income households. This is likely due to overspending. Once things are back to normal, donâ€™t use the second income as an excuse to spend like you did before.
Check out this handy infographic on two-income households by nowsourcing.com.