Financial tightrope
In 2023, roughly 30% of families in the U.S. relied on a single income in 2023, according to the Bureau of Labor Statistics — and the median household income was $80,610.
Like Hanna, many moms are struggling to find work as they tackle the rising costs and limited availability of childcare. In 2021, 79% of mothers reported family care as the leading reason for [exiting](https://www.uschamber.com/workforce/understanding-americas-labor-shortage-the-scarce-and-costly-childcare-issue the workforce, according to the U.S. Chamber of Commerce.
Unfortunately, the family’s six-figure debt burden has made it essential for them to find ways to boost income. Hanna wishes her husband could find a new job or side hustle, despite his attachment to teaching.
“I understand he wants to make a difference in these young people's lives,” she wrote. “However, we can't make ends meet.”
Delony agrees.
"I don't believe you have the right to ‘make a difference’ or ‘work your passion’ when you've put your family $125,000 in the hole,” he says.
However, if her husband can’t be convinced to switch careers, he believes the only solution is to embrace the modest lifestyle and make other adjustments.
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Learn moreEmbracing the ‘Corolla forever’ lifestyle
Teaching isn’t a lucrative career. As of 2024, the average school teacher earned $69,597 a year, according to the National Education Association (NEA). For many of these professionals, the mission is more important than the compensation.
Delony is familiar with the sacrifice, having married an elementary school teacher himself.
“She entered what I call a Corolla world,” he says. “That's what she expected to drive forever because she knew, ‘I want to do this thing and so I'm going to build a life that requires that I can live on this salary.’”
Delony suggests that Hanna find a job she can do at home, noting that he knows a couple where the dad is a teacher and the mother runs a home daycare to help make ends meet.
If Hanna and her husband can’t find ways to make more money, they need to embrace this Corolla-forever lifestyle, too.
Warshaw encourages them to consider downsizing the house or tightening the monthly budget to gradually pay off their debt.
Over time, lower monthly interest payments, a smaller home and a more modest lifestyle should give them the breathing room they need to reduce their marital stress.
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