Increased Income

• Generally, a household with two sources of income will generate a higher income. As an example, if a husband earns $70,000 and his wife earns $70,000 for a combined household income of $140,000.
  
  

Increased Work-Related Expenses

• Along with a double income comes work-related expenses. Both earners must commute to work and pay for gas and the continued operation of two vehicles. Also, it costs money to be out of the house each day; both parties must cover the cost of any food and beverages. In addition, if the dual-earning couple has young children, they must have childcare at all times they are both out of the home.
  
  

Increased Spending or Saving

• With the higher income, the household may spend more money or save more money. The household may buy an expensive house, luxury cars, lavish furniture and spend money on other luxuries. A National Post article entitled "Family Finance: Double Income, No Cash," discusses the financial situation of one couple who earns almost $190,000 per year but has a net worth of less than $4,000. Many families "bite off more than they can chew." On the other hand, the household may live in a modest house, drive an economical car and save every extra penny. The household's spending and saving behavior cannot be predicted because it is unique to the specific individuals involved.
  
  

Security

• A double-income household may experience more security than a single income household. If one earner loses her job, the household still has a source of income. In a single-income household, a lay-off is more devastating to the household.
  
  

Reliance

• Double-income households may become reliant on the double income. Their spending or saving patterns are based on the double income amount and the household is comfortable with the situation. If there were to be a change in the situation, the household may have trouble adjusting.
  
  

Shared Responsibilities

• In single-income households, one partner holds the primary responsibility of working and the other partner often holds the primary responsibility of caring for the household. In double-income households, both partners should share the household and work responsibilities.