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Do people really end up with more money with two incomes?

I know this will probably start some controvesty, but I really am just confused. People seem to think that they can't make it on one income so both parents need to work, but doesn't that bring more expenses as well? BTW I am a single mom supporting myself and two girls currently. Maybe once all your kids are in school and you don't need to pay for daycare it would make sense, but daycare is so expensive, I just don't see how it is worth it to have both parents work.

 
jillybean703

Asked by jillybean703 at 4:21 PM on Jul. 16, 2010 in General Parenting

Level 11 (652 Credits)
This question is closed.
Answers (16)
  • Depends on what you make. If you're talking minimum wage/low paying jobs then of course not. But as long as the 2nd income covers daycare costs, gas etc then yes. My husband and I make way more money with both us working then we'd save if I stayed home. Like I said, it depends on what you earn.
    deadheadjen

    Answer by deadheadjen at 4:29 PM on Jul. 16, 2010

  • A lot of people would be better off as single income families - it's not just the daycare, it's all the extra gas money, vehicle maintenance, convenience food, wardrobe, lunches out, and tons of other little expenses that add up without anyone realizing it. People throw away hundreds of dollars every week without even realizing it unless they purposely sit down and track every cent they spend for a month. If you work in an office that's big on having parties for every occasion and charity fundraisers, you can shell out a few hundred a month just on jeans days and shower gifts.
    NotPanicking

    Answer by NotPanicking at 4:29 PM on Jul. 16, 2010

  • depends on how much debt they have. If a 2 income family as a lot more debt then a 1 income then no they dont really have more money but if the have little debt then they probably do have more money
    mommy_of_two388

    Answer by mommy_of_two388 at 4:24 PM on Jul. 16, 2010

  • It works for us because each of us makes more than it costs to send my daughter to daycare.

    Besides, if I wasn't working, I'd be shopping. Lol...
    anng.atlanta

    Answer by anng.atlanta at 4:24 PM on Jul. 16, 2010

  • Maybe some would like to pay off debt? I can see how it is a waste if the second income is mainly going to day care. Maybe some work while DH home? We can make it on one income but it would be nice to have a little extra to spend.
    Claudiomom

    Answer by Claudiomom at 4:25 PM on Jul. 16, 2010

  • I agree. It costs for daycare, two cars, gas for those two cars, possible parking fees, extra tolls, lunches for two people, if there are things deducted from their paycheck like insurance premiums that cuts into the take home pay.
    admckenzie

    Answer by admckenzie at 4:25 PM on Jul. 16, 2010

  • Yeah day care is alot but you will make more then day care (in most cases) and some people have friends or family watch the kids
    DilsMommy

    Answer by DilsMommy at 4:25 PM on Jul. 16, 2010

  • Its worth it when you both make a decent income. Since January I've been working from home with the kids so we don't have daycare expense, but prior to that, I went to the office a few days a week....having 2 jobs and paying for daycare left us with extra money each month. Not paying daycare and not having my salary wasn't enough for us to get by on.
    gramsmom

    Answer by gramsmom at 4:26 PM on Jul. 16, 2010

  • Yes, if you make enough.
    ABusyBee

    Answer by ABusyBee at 4:28 PM on Jul. 16, 2010

  • We don't end up with more money, we can survive on my husbands income just to live and put a little oway, I work part time so we can pay off the left over debts we have.
    looovemybabies

    Answer by looovemybabies at 4:30 PM on Jul. 16, 2010

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