As one of my commenters recently pointed out, there is a lot of ignorance nowadays about housekeeping and all things domestic; while, on the other hand, there are probably many couples out there who long for a more traditional relationship but don't know how to switch from two incomes to one, so I thought it could be a good idea to devote a couple of posts to this topic.
Here is the link to a radio program which gives financial advise to people. The title of this particular episode is Yes, You Can Afford For Your Wife To Stay Home and the radio host gives a detailed analysis of a hypothetical situation which features a two income couple where both earn 60. 000$ and what would happen to them if the wife stopped working.
I'd like to highlight some of the points he made. First, he rightly points out that the decision for the wife and mother to stay home is not so much financial as it is a lifestyle one, that is, if the couple are determined to make it work, they'll probably find a way, however, most people nowadays see it as their objective to earn as much money as possible, even at the cost of the relationship with their own kids.
He states that it's so important for him that if necessary he'd move to a very cheap house and work three jobs in order for his wife to be able to take care of their children.
Another thing to consider is that while a one income family will obviously have less money to spend, their quality of life will be higher since the wife won't be stressed by working outside home and will be more relaxed and thus the atmosphere at home will be much more peaceful. What you lose in terms of money, you win back in terms of time.
Obviously it's a couple's decision whether to be a one or two income family, yet strangely, there is a lot of animosity towards traditional families, and he mentions a recent article in an Australian newspaper claiming that it should be forbidden for the wives to stay home since, guess what? They are not doing their duty towards the economy!!! Apparently some lifestyles aren't tolerated all that well in a liberal society.
It's a sad commentary on the modern West that the most prosperous societies that have ever existed since the beginning of the world value money-making and abstract "economy" above such things as marriage, children and family. Anyway, the good thing is that many people still do have a choice and the guy in question can probably help some of them to figure it all out financially.