How much one parent needs to earn so the other can stay home in every U.S. state
Many families want or need one parent to stay at home with a young child. While that may help save on child care, the single-earner still needs a decent income.
TL;DR
- One parent staying home can save on childcare costs, which can exceed college tuition in many states.
- This decision may negatively impact the stay-at-home parent's future salary prospects and career growth.
- In Hawaii, a working parent needs to earn approximately $102,773 annually to support a family of three if the other parent stays home.
- Women comprise 82% of stay-at-home parents, and leaving the workforce can result in missed salary increases and resume gaps.
- For some families, the cost of childcare makes a career break for one parent an unavoidable financial decision.