What people don't understand today is that often the second income in a family, be it man or women, actually LOSES money for the family. Years ago 20/20 followed a family in Boston that was having all the typical family problems. They brough in experts and analyzed their families income and budget, and PROVED to the family that if the wife STOPPED working, they would actually have more money to spend. I sat down one time and actually calculated that it took 65% of my wifes income of 50,000 to allow her to work. People don't actually look at ALL the expenses of being the second income, and I always encourage women that are thinking about staying home with the children to actually look at all the expenses. Here are some things that need to be looked at:
Taxes. Going from one income to 2 usually means the second is taxed at a much higher rate, and thus a lot more in taxes.
2 Car payments. I know, eveyone thinks they need 2 cars. When I was growing up, families often had only one, or one good car and a beater for Dad to get to work. Look at them today, 2 huge SUVS in the garages.
Clothing, the wife will spend money on fancy clothes for work.
Food. A whole lot more eating out and convienice food. Couples are just 2 tired to cook. And look at what is happening to the kids, there getting FAT on this food.
Childcare. 2 or 3 kids may cost 3-4 grand a month in child care.
Overall, you may not lose money, but I would bet that if most young familes actaully looked at how much the second income brings in, they would probably find that a $12/hour job might clear only $4/hour, after you take into account all the expenses of HAVING that second job.
