The first draft of this post was about the financial challenges my wife and I face while raising our family of six on a single income. But something about that draft didn’t feel quite right. I was taking the same approach so many others do when discussing this topic. I focused too much on money and not enough on the other sacrifices that get made.
From Apathy Ends: Can We Afford To Be A Single Income Family?
As a family of six that that lives on a single income, this is a question we’ve asked ourselves many times. There’s no right answer – you need to do your own analysis and figure out what’s right for your family. Chris from Apathy Ends gives you a blueprint for doing this analysis. Check it out and see what he and his wife, who are expecting their second child soon, have decided to do.
From Nerd’s Eye View: Why Two Incomes Aren’t Always Better Than One
“Parents have more opportunity than ever to be strategic in deciding how to structure their household, but with that increased flexibility also comes greater financial stakes – particularly for affluent households who are generally presumed to have both the most income potential as a dual-income household and the most opportunity to live off of one spouse’s earnings.”
“I don’t know how you do it” is a common reply I hear when someone finds out that I’m raising a family of six and thriving on a single income in Seattle, one of the least affordable cities in America (it’s the 8th worst).
Most of the time that’s where the conversation ends. I go my way and whomever I was talking to goes theirs. But every now and then someone will come back later and ask “seriously, how do you do it?”
I have a hunch most people are secretly hoping that I’ll let them in on some little known life hack that only I know about. I wish I had that information to share, but all I have to offer is what has worked for us as we’ve built a situation that allows us to not only get by, but thrive financially.
There’s no secret. Just some common sense, hard work, and if I’m honest – a little bit of luck too.