My family of 4 lives on a single income. We have budgeting strategies to make it work.

• My family of four lives on a single income — mine.
• My wife used to work, too, but having a dual-income household didn't work for us.
• Managing our schedules was hectic and tiresome. This works for us with a good budgeting strategy.

I am out of bed by 5:05 a.m., making coffee or heading off to the gym. I have always been a morning person. Nearing 40, with two daughters sleeping peacefully, I relish this quiet time. Establishing morning habits creates mental stability while providing the sole income for a family of four.

My wife and I have chosen to focus on granting the best we can for our children with one income. In today's economy, this remains a challenge. Like a leafcutter ant carving into a delicate green leaf, I have watched inflation chip away at recent cost-of-living raises. Our monthly budget is tight. We track every dollar spent, which helps us make informed decisions about how our money works.

We had a dual-income household, but it didn't work for us

We did both work for a time but found it generated a hassle-stricken household. How can one maintain steady employment between the inevitable illnesses and summer breaks? The pace was frantic and not enjoyable. We constantly strategized. Who would call in sick to care for a sick child? Scheduling family trips was nigh impossible. While the savings account grew, stress compounded alongside. Eating healthy became a challenge; we had limited time to cook dinner, pack lunches, and spend time with the kids, let alone find respite from the grind.

Though the dual-income year was frenetic, it generated a firm financial footing. We built an emergency fund inside inflation-proof I-bonds. After a year, we decided that two working parents became unsustainable. The hustle and bustle wore us down physically, illness mounted, and our familial relationships became strained.

We have a budgeting strategy to make living on one income work for us

A single-income strategy requires meticulous budgeting. I am grateful to have paid off all our debt, which allows us to include line items in our monthly budget, such as violin lessons and ballet classes. Our savings account is growing, though slower, and we invest in personal goals.

The bedrock of our single-income strategy is a mortgage below $900. Across northern Nevada, the average mortgage is well above $2,000. With interest rates currently around 7%, we are lucky to have refinanced early in the pandemic when rates were lower. Our mortgage was over $1,200, and at the time, we strategized how to pay off the house as quickly as possible. With a low mortgage, this is no longer a goal. We have thoughtfully culled our flock of expenses. We did away with TV subscriptions and budget ourselves to eat out once a month. We have reduced meat in our diet and ardently plan weekly menus.

We hold expenses to a minimum through an attentive approach. Knowing how we spend money is part of the strategy that keeps costs low. Tactics include owning one car and many bikes. I commute almost exclusively on a bike. One of our bikes is a cargo bike that allows me to take the kids to school, make large grocery store runs, and do other errands, reducing car expenses. My wife does a monthly decluttering to lessen the chaos of a small house. These strategies, combined with regular financial meetings, allow us to remain nimble in today's metamorphic economy.

We value experiences over materials. We still have a house full of toys, craft supplies, and the inevitable small plastic thing to step on. Being industrious thrift store lovers saves money and keeps viable items out of landfills, establishing an element of sustainability.

This journey has been highly tactical, prompting fruitful discussions and arguments about saving versus spending. Sometimes, I wish I could forget it all and treat my family to dinner multiple times a week. Other times, I want to purchase new toys for the girls or remodel our ill-designed kitchen. Marketing is an effective influencer. When this happens, I think about our warm and simple abode and two healthy daughters, which helps keep my wallet closed.

Why are we not hustling to keep up with the Joneses? It is not worth the hassle. In the future, we will need a second income, that I know. We forecast needing a larger home as the kids grow. College tuition is also on the horizon. My wife will also want to get back into nursing to help others in need. But as I pour a second cup of coffee in the stillness of the morning, I find calm in our lifestyle and strategy, knowing it is more advantageous for our mental and family health than a second paycheck.