A single-income household is a family or living arrangement where only one person earns money to support the entire household. This can include families with one working parent, single-parent families, or couples where one partner chooses not to work. The income from this single source must cover all expenses, such as housing, food, and healthcare. These households may face unique financial challenges, as they rely on one salary for all their needs. Budgeting becomes crucial to ensure that essential expenses are met. Additionally, single-income households may have less financial flexibility and savings compared to dual-income households, which can impact long-term financial stability.