Eli ... My wife and I did the same as you 2 are doing, back in 1991. The connection you all will have as a family is irreplaceable, and you will alway relish having made this decision. We made several decisions along this line over the first few years of parenthood. I did not learn golf until the kids were all in school full time, and had weekend activities of their own, and still have fond memories of weekends being spent at the club pool with the family, rather than on the links.
One positive "side effect" over the long haul was that I have been able to do far more in my business world by not having to worry about what is occuring at home. Long term, you will not only have done the right thing for your family, you will be financially better off.
Well done - you and your bride rock !