I quit working to be a SAHM. When we were married with no kids, we saved all of my income and lived as if we were a one-income family. Since having kids, we've lived well below our means even with the one income- we have cheap, older cars and a small house. We made a move halfway across the country for higher pay (for DH) and a lower cost of living.

Now we're thinking about the possibility of me not returning to work so I can homeschool the kids, and pondering what that will mean for us financially. We could end up doing a 1 or 2-day a week homeschool program which would leave me free to pursue a part-time career I've been putting off thinking about since my kids were born.

I found this book very interesting and helpful: http://www.amazon.com/All-Money-World-Happiest-Spending/dp/1591844576/ref=ntt_at_ep_dpt_2

It may be helpful for you to evaluate what you really need in terms of those big expenses people tend to take for granted- mainly housing & transportation.