Many couples are surprised to find that once all the costs are counted, they are not much better off financially if both parents return to work. This may or may not be true in your case. The only way to know is to sit down and do the calculations.
A simple process that will give you a rough estimate is as follows:
Start with the income earned by the second parent if she or he returns to work.
Subtract:
Equals: Net gain from additional person working.
EXAMPLE: If a couple earns $35,000/year with one person working, and the second person goes to work part-time for $10,000/year:
$10,000 Income Minus - $2,000 Tax $2,400 Child Care (1/2 day @ $10/day 240 days/yr) $ 500 Work Clothes $ 960 Commuting @ $1.40/day (20 miles/day @ $.20/mile, 240 days/yr) $ 600 Convenience Foods/Eating Out $ 300 Additional Help ------ $ 6760 $ 3240 Net Financial Gain of Going to Work