Should My Spouse Work?

Evaluates the financial impact of one vs. two incomes for your household.

  • Methods explained
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  • Compare saved scenarios

Income

$
$
%

Work-Related Expenses (Annual)

$
$
$
$
$

Financial Analysis

$45,000
Gross Second Income
$11,550
Net Second Income
Total Work Expenses$25,200
Additional Taxes$11,250
Effective Hourly Rate0

Income Breakdown

Gross Second Income+$45,000
Childcare$-18,000
Commute Costs$-3,600
Work Clothing$-1,200
Meals Out$-2,400
Additional Taxes$-11,250
Household Services Saved+$3,000

Recommendation: Working provides modest financial benefit - consider non-financial factors

How it works›

Model and assumptions. Subtracts the entered additional taxes, childcare, commuting, clothing and meal costs from potential spouse earnings, including the entered household-service adjustment. It uses a flat incremental tax assumption rather than recomputing a complete household return or benefit eligibility.CFPB: money and debt worksheets