Ed has sent away for a book on hypnotism, planning to use it on the French filly he is dating. But he soon has other ideas for the book when Carol wants Wilbur to take the Addisons (who have been arguing) out to a movie instead of going to riding club. Wilbur eventually agrees, but as this would disrupt Ed's date, he hypnotizes Wilbur into staying at home. But this causes a quarrel between Wilbur and Carol, who ends up taking Kay to the movies by herself. And there is no riding club for Ed either; when Wilbur has a look at the book on hypnotism, he realizes what Ed has done.
Next morning, Carol is still angry with Wilbur. Next door, Kay is telling Addison about the movie. To Addison's consternation, it has inspired her to have a joint checking account and get a job, for she is tired of living off his allowance. Carol decides to follow Kay's example in getting a job as she is tired of playing a seeming second fiddle to Ed in Wilbur's attentions. Wilbur is now left with the housework. So is Addison, and their lack of experience with it is causing problems. Addison believes the wives will soon quit their jobs. But there is still the problem between Wilbur and Carol, and Addison is holding out on giving Kay her joint check account. As Addison and Wilbur work on dinner (with disastrous results), they try to figure out how to sort out their problem. Ed is listening in on them and makes a decision.
Carol and Kay arrive home. As Addison predicted, they have quit their jobs (because of the physical demands). But before they say so, Addison and Wilbur beg them to return; the lack of decent dinners since the wives started work has made them give in. Kay will get her joint check account and Wilbur will give Carol undivided attention. Things are all patched up.
But when Wilbur goes to Ed's stall, he finds a "stall for rent" sign. Ed is sacrificing himself by leaving so Wilbur can give his attention to Carol. Wilbur stops him, and tells him that he does love him, and so does Carol. And Carol comes in with carrots for Ed to prove it.