$220 a week

[Renee in NC]

That is what daycare for 2 children will cost me. That is actually discounted because the state pays for PK for 3 hours a day for the 4yo.

 

:scared:

 

I hope I get to do a LOT of tax returns, because this is going to take more than half my base pay! By the time I pay for gas, clothes, daycare, etc. I won't be making much each week. I do get a lump sum at the end of the tax season for any excess commissions beyond my base pay - I hope to end up with $3-4K.

 

Still, though! Most jobs around here don't pay as much as my base!:001_huh:

[Tidbits of Learning]

This is why after my 3rd child I did not try to go back to work. We would have been dipping into dh's check to pay for child care for me to work and giving all of my check to child care as well.

[Mama Geek]

You bring up a very interesting discussion. My dh and I have often discussed that the second income earner in a family has to make a fortune for it to be financially success to have both employed esp if there are kids. So few people realize that by the time you factor in gas, a second vehicle, child care, work clothes, lunch money, change in tax bracket, etc. that it really does take a high income to net more money.

[Whereneverever]

That is what daycare for 2 children will cost me. That is actually discounted because the state pays for PK for 3 hours a day for the 4yo.

 

:scared:

 

I hope I get to do a LOT of tax returns, because this is going to take more than half my base pay! By the time I pay for gas, clothes, daycare, etc. I won't be making much each week. I do get a lump sum at the end of the tax season for any excess commissions beyond my base pay - I hope to end up with $3-4K.

 

Still, though! Most jobs around here don't pay as much as my base!:001_huh:

 

It's amazing, isn't it? And puzzling, too. I hear from people how much better off we'd be if I worked, but the numbers don't add up that way for me.

[KingM]

My wife and I both work, but we both work from home. I run a small business and she telecommutes. It has worked out very well because we have been able to tag-team a lot over the years. A well-run daycare is quite expensive.

[Tap]

It's amazing, isn't it? And puzzling, too. I hear from people how much better off we'd be if I worked, but the numbers don't add up that way for me.

 

Yep, and if you factor in the extra doctor's visits, and days being sick due to child care exposure...it drops even more. :glare:

[OH_Homeschooler]

While it is true that another income comes with its own costs, remember that the cost of those things (such as daycare) is often temporary, and that even not working you will need to pay for food and clothes. If working will help you build a retirement plan, even if you are not taking home much money after childcare, that retirement plan is a good thing to have. And then in a couple years when you are not paying for daycare any more (if that will be the case), you will still have the job you have and not have to worry about getting back on the market. In that time you will have built your resume, and won't it feel like the biggest raise ever to not have to pay childcare any longer? Sure, this will not help your current financial situation much but if you need to work then this is a more positive way to look at it.

 

Is a flex spending account an option? I used this when I used to work. They can take up to $5000 a year pre-tax out of your paycheck, then you get that money back when you submit daycare receipts. Since it is pre-tax (I always estimate that taxes take 30% of pay) that would put approximately $1500 back in your pocket.

[mom2denj]

That is why I worked at night for the first 12 yrs of our marriage. :glare:

[astrid]

This is why after my 3rd child I did not try to go back to work. We would have been dipping into dh's check to pay for child care for me to work and giving all of my check to child care as well.

 

This is why after our first child, we stopped.

I know it's an unpopular position here, but it's a large part of why we have an only child.

 

astrid

[Dawn in OH]

I would think that food costs would increase also. Less time in the home for preparing foods would result in the purchasing of more processed foods, pre-packaged foods and dining out. Processed foods cost more than homemade.

Edited November 16, 2010 by Dawn in OH
I left out a whole word!

[Renee in NC]

You bring up a very interesting discussion. My dh and I have often discussed that the second income earner in a family has to make a fortune for it to be financially success to have both employed esp if there are kids. So few people realize that by the time you factor in gas, a second vehicle, child care, work clothes, lunch money, change in tax bracket, etc. that it really does take a high income to net more money.

 

This is true. If I were working simply to supplement our income, it wouldn't work well short-term. I think the long-term benefits make it worth it, though.

 

Yep, and if you factor in the extra doctor's visits, and days being sick due to child care exposure...it drops even more. :glare:

 

Hopefully that won't happen here - I have dc in school exposing us to all kinds of stuff and the two littles go to the Y on a regular basis (the 4yo more than the 1yo.) We rarely go to the doctor for normal illness anyway, but the loss of income could be big.

 

While it is true that another income comes with its own costs, remember that the cost of those things (such as daycare) is often temporary, and that even not working you will need to pay for food and clothes. If working will help you build a retirement plan, even if you are not taking home much money after childcare, that retirement plan is a good thing to have. And then in a couple years when you are not paying for daycare any more (if that will be the case), you will still have the job you have and not have to worry about getting back on the market. In that time you will have built your resume, and won't it feel like the biggest raise ever to not have to pay childcare any longer? Sure, this will not help your current financial situation much but if you need to work then this is a more positive way to look at it.

 

Is a flex spending account an option? I used this when I used to work. They can take up to $5000 a year pre-tax out of your paycheck, then you get that money back when you submit daycare receipts. Since it is pre-tax (I always estimate that taxes take 30% of pay) that would put approximately $1500 back in your pocket.

 

No flex spending - this is a temporary job. What you said in the first paragraph is true and somewhat plays into why I took the job.

 

I would that food costs would increase also. Less time in the home for preparing foods would result in the purchasing of more processed foods, pre-packaged foods and dining out. Processed foods cost more than homemade.

 

Only somewhat, because dh does most of the cooking!:D

Edited November 16, 2010 by Renee in FL

[Heatherwith4]

Childcare costs are a huge reason I decided to stay home. Then I began to realize I was saving money in other ways by staying home.

Renee, I hope you get a ton of work, so that you'll make some decent money for your family! :)

[KingM]

This is why after our first child, we stopped.

I know it's an unpopular position here, but it's a large part of why we have an only child.

 

astrid

 

I generally consider myself pro-natalist until I come around here and see nests of eight, clutches of ten, and quivers of twelve. ;)

 

In Vermont, the four I've got make me almost a freak of nature. :)

[Knittinfarmgirl]

It's amazing, isn't it? And puzzling, too. I hear from people how much better off we'd be if I worked, but the numbers don't add up that way for me.

 

Precisely.

[astrid]

I generally consider myself pro-natalist until I come around here and see nests of eight, clutches of ten, and quivers of twelve. ;)

 

In Vermont, the four I've got make me almost a freak of nature. :)

 

....and see here, my singleton makes ME a freak of nature! :D

 

astrid

[kalanamak]

....and see here, my singleton makes ME a freak of nature! :D

 

astrid

 

Freaking out with you....