Post # 1
We live in New England and in our area day care costs $1000-$1500 per month. How do you ladies afford it?! We dont have children, but we hope to start trying in about a year.
We both work full time, and I carry the benefits. We both earn about the same and we both need to continue to work in order to afford the mortgage, car payment, and school loans.
We have a small savings account and both contribute to retirement accounts. we dont take crazy vacations or go shopping every weekend. We live within our means but there is just NO way we can afford day care…it’s basically an extra mortgage payment!
So ladies, how did you do it?
Post # 3
I just got my 2012 tax receipts from my daycare providers- last year we paid over $17,000 for our 2 girls. We live in Baltimore which is not even an “expensive” city. It makes having a 3rd child seem prohibitive.
Post # 5
We pay $1250/month for our 2 year old at an in-home. It’s annoying to not have that money, but both of us make enough that $1250 is completely justifiable. DD2 is 6 weeks and since I WAH she can stay with me for a while, so when DD1 is in preschool and DD2 is in daycare, we’ll be paying at least $2500/month. No vacations for a while…like five years :-/
Post # 6
@eeniebeans: is child care tax deductable??
Post # 7
You get a tax credit for having a child period. And then some of the day care is deductible- but not nearly enough of it!
Post # 8
Lots of sacrifices,
I know one family that mom works part time and she aranges her days with another mom that works part time and they watch each others kids.
I know another family where mom quite her job and started working nights and weekends bartending so they kids didnt have to be in daycare. They couldnt afford it or chose not to do it, not sure which it s.
Help from family for some people to help offset the cost as well.
Post # 9
Holy cow, I’m living in the wrong part of the country! I work at a licensed daycare and preschool center and the highest price we charge is for full-time infants, which is $600/month!
Post # 10
The good news is that it should get less as the child gets older. I also lived in the New England area and was paying that much or more when I first started then as he got older it went to $175 per week. Now it’s less because he’s much older and in school.
It’s a lot of money but you usually don’t have a choice when you don’t have any family in the area.
Post # 11
No idea. SIL is due in March and daycare for infants in my area are roughly $2,300 per month. I can’t even fathom how people afford that!
Post # 12
We only pay $680 a month but that is for a in home licensed day care. If we were in a center we would be paying roughly $1500 a month for day care. My provider charges one rate for all ages. While most center’s charge more for an infant and go down in price as the child ages. If we have another child (which we are talking about, I will have to be a SAHM) because we won’t be able to afford daycare.
Post # 13
Wow I had no idea daycare was so expensive. It’s too bad that most households now need 2 incomes to function.
Post # 14
@pinkshoes: : @eeniebeans: is right! It is tax dedictuble but there is an extremely low limit…something like $3,000 a year.
It really does take a lot of sacrifices. Even though I really do not want to quit work, I often think that if I ever have another child, SO and I will have to consider the cost comparision of me staying home.
Post # 15
It’s about $1400/month here as well. Dh and I are both emergency services workers and have previously enjoyed having the same 4 on 4 off schedule but essentially our plan is for me to take mat leave for a year and then on baby’s first birthday kiss each other goodbye for 4 years and take on opposite shifts so we’ll only need child care two days a week for maybe 4 hours while we switch places and take a nap.
Post # 16
so I guess I’m living in the wrong part of the country 😉
We dont have family in the area so thats out. And we really need two incomes to pay for our current expenses so one of us staying home isnt an option either.