I have trouble believing this calculator; it seems ridiculously high considering that the median US family income is 50k.
It was definitely worth it financially for me to work for 24k with two kids in daycare. Not to mention the additional long term effect of resume building and, for people who have jobs with benefits, retirement benefits.
And potentially health insurance benefits. Despite my husband working in healthcare, my health benefits are far cheaper for our family, almost free. His are cheap for him, but would be quite a bit more expensive for our family.
When I went back to work, we never paid all that much for childcare beyond what we would have paid anyway for preschool. At times our son could come to work with one of us, and other times he was with friends or at summer day camps he would have attended anyway. And we both had fairly flexible schedules that allowed us to work some at non-traditional times.
I know that full-time childcare for very young children can be quite expensive. At least here, it costs more that a year’s tuition at a state school. But most two wage earner families I know don’t use full-time care, even those with young children. They use some, but also use flex scheduling, telecommuting, family help, etc. to greatly reduce the amount of paid care needed. The only people I know using full-time paid care are single moms with children under age six.
Edited to add that we’ve also been lucky in that we’ve been able to walk to all four of the jobs we’ve held between us for the twenty years we’ve lived here. One car and no commuting costs/time make a big difference both financially and in quality of life.
Edited by Frances, 13 March 2018 - 11:23 PM.