Are two-incomes really required in a family?
by 
Highlander is semi-retired from AB
ANSWERS: 26
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Not required, but extremely helpful.
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they are in my family.
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No, but can come in handy if you have low income.
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Some families are lucky enough to have one person's income be enough to live on; my family doesn't happen to be one of them. Both my fiance and I work to pay bills, support our family (each have a child from prev. rel.) and have a little to have fun with.
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With the Price of Groceries and Gas. It is required for my family. Yes.
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not really but then that depends on your lifestyle.
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In our household, it is required. I would absolutely love to stay at home but with three kids who eat as much as mine do and who grow so fast they're always needing new clothes... I have to work full time.
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No. But you do have to qualify - required for what? Since most families in the world live on an income of no more than a few dollars a day, it really is a question of life-style. I have heard from financial planners about people who never made more than $30,000/year but chose to live on less than they earned and invested consistently a percentage of that small income who retired in some comfort and security with a million dollar investment portfolio. People who acquire a marketable skill, work hard and do a good job and manage their money wisely - don't buy stuff they can't afford; borrow money only for medical emergencies or a personal residence that fits comfortably into a budget - can raise a family in some comfort on one income.
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Depends on your lifestyle and what part of the country you live in. Obviously it would be easier to live off one income in a less expensive state (a friend of mine in Oklahoma pays about $400 a month in rent, a friend on the east coast pays $1200 for a comparable sized apartment)
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I think it all depends on the couple & their financial situation.
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No it depends on the amoutn of monthly salary they need to live comfortably. If it's like $4K/month it's possible for either spouse to make that. If it's more, it's still possible. If it's less, it's still possible.
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I don't think so. The problem with society as a whole today is everyone wants to keep up with the Jones' even if they don't make anywhere near what the Jones" make. We all want a bigger house, a bigger car, fancy trips to exotic locales etc. I think if society as a whole learned to live within their means and stop spending more than what they make there would be no need for a second income.
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oh yes ... very much . its become a necessity than a luxury .
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I think it depends on the country - in the UK the cost of living is so ridiculously inflated most people need 2 or 3 jobs just to break even
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That would depend apon the Monthly income of a family in comparison to thier needs or required standard of living. In some households it would definately be a necessity.
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I guess it would depend on the incomes of the people in the family and the state that you live in. But I would have to say, YES. It is for my family, with high real estate prices and cost of living you cannot support a family any other way.
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I would say yes but my sister proves me wrong. Mind you, I swear she survives on miracles. Where I live, the cheapest dwelling in the cheapest suburb costs around four hundred bucks a week to buy. But the lowest paid jobs pay four hundred bucks a week. As a qualified tradie I'm on eight hundred. Luckily I bought my place a few years ago but I don't understand how anyone can afford to bring up a family on one income, unless they don't buy a house.
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It depends on the situation. In my case, when my wife and I decided to have kids we did what was required to rearrange our finances so that my wife could stay at home with the children. We sold our house and bought a smaller one, we got cheaper cars, etc. It was painful, but it was worth it. Now we no longer try to keep up with jones', we just focus on our kids instead.
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I think it depends on the family's situation. I stayed home with our son for the first year. The financial burden was too great for us to continue. My mom stayed at our house with our son for the next 3 years. That way, I could work, but he still had a very loving adult taking care of him, and he was in his own house. He started full-time daycare/preschool when he was 4 1/2. By that time, he was ready to socialize with other children. Now, my spouse's income is enough that we could probably afford for me to stay home, however, our son is now school age, and there really is no point in me being home while he's at school. So, for us it works out best for me to work part-time. That way our needs are met, and we have extra to save and to spend on "luxeries".
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sadly, these days it seems it is. in australia a new term has immerged 'mortgage stress' the definition of which is where more than 30% of household income is paid to the home loan. petrol prices are at $1.50 a litre, its ridiculous and sad and its the family as an institution that will be affected short and long term.
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No. If you have kids, definitely not. If you crunch all the numbers associated with two parents working, often times the second income doesn't break even. If you add up the costs of childcare, second car, second work wardrobe, eating out or buying prepared packaged food because there is no one home to cook, etc. you often aren't making any money. Sometimes you are actually losing money on that second income. If the stay at home parent does things like garden, can, freeze and sew, you can often make more money by saving money. I figure I would have to make $45,000 to $50,000 to make up for what I do at home, plus buying a second car and I can't earn that with my degree (sadly).
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No. It's all up to you and how you live and what you need. Calculate how much money is required for you to live comfortably and then get a job making that much money. Don't forget to take family into consideration. If you cannot get a job making that much money then two incomes may be required. I know with kids, we needed two and three incomes. As I moved up in the company, we were able to live on one income. Just have to keep his spending under control.
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No, its not. I was a single parent with no child support or alimony often living on minimum wage. Food stamps occasionally. My mother raised 7 girls as well. It can be done. Its not easy.
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As long as the Federal Reserve Corporation is in charge of the currency used in the USA they will continue to inflate the currency. The Fed is not legal according to the first article of the US Constitution. The Rothschild family owns the Fed. Res. Corp. not the USA. The more they inflate the less the currency is worth requiring most families today to have two incomes to make their life at least comfortable.
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Pie in the sky!
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Pretty much yes. Unless one of those wage earners is getting $75,000 a year which many consider a break even point. Day care for an infant is approx $1,000 per month just in case you decide to start a family.
Linda Joy 
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