Does your job barely cover childcare?
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Anonymous
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We are cash flow negative (after taxes) with childcare (we have 3 kids, 4 and under). I see this as a long term commitment to my career and earning potential.
If I stay at home, I would be enrolling the kids in part time pre-school, which is also a cash flow negative situation. |
Anonymous
I always made about 10 times child care costs, so that was easy. But even if I didn't, I'd still go to work. Staying home would drive me insane. During the maternity leave my firm provided I felt like my brain has melted and was dripping out of my ears. Picked up some work from home after just two months. 
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Anonymous
All right enough with the humblebrags - always made 10 times child care costs - your firm apparently provided more than 2 months of maternity leave - your brain is so huge it drips out your ears |
Anonymous
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I would not want to be away from my kids in exchange for $100 a week. I hear what everyone else is saying about promotions and whatnot, but I personally could not do it. If I went back to work right now I would make, at most, $800/mo, so double what you're considering, with all commuting costs factored in, and I would have a 1.5 hour commute each way (3 hours total). My kids would be in day care/after care from 9 a.m. until 6:30 each night. I would be gone before they woke up in the morning, and I would go to bed at the same time they do at night. I would never see my husband except on the weekends. Not worth it. Obviously each person's situation is different, but I wonder whether the women who always advise taking/sticking with the job no matter what on these threads would feel the same about my facts. Also I would not have any benefits so no additional income there. For us it does not make sense for me to work right now. YMMV.
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Anonymous
| PP, I wouldn't do it under those circumstances either. You had me at 1.5 hour commute. |
Anonymous
| Right now, I pay more for childcare than I take home. But, I am contributing to retirement and next year my daughter will start school so daycare will decrease and I will actually have +$400 after daycare expenses. Then, rates for my son will decrease about 6 months later, so again, I'll have more left over. I see working as contributing to my future career and retirement. |
Anonymous
+1 |
Anonymous
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I met ~5k a year over our childcare costs, but have a very flexible job so still have a lot of time during the week with my kids. Assuming you're not working crazy hours with a ridiculous commute, I'd do it. In the 3.5 years since having kids, I've gotten two promotions, kept my skills fresh, and feel like I've really built a network in my field. In three more years when both kids are in public school, I'll be in a much better position within my organization than if I had stopped working, and in a much much better position to look for a higher paying job if that's what we decide in best. Plus, i like working. In the long run, I'm confident I made the right decision to keep working even if financially it's currently a bit of a wash. I actually anticipated making less 'career progress' in this period but now really see the value of staying engaged.
Of course, the value for you will depend of your field and the demands of the job - but a low paying yet flexible job in the early years can be a really good thing. |
Anonymous
| One more consideration to mention. No one wants to believe that their marriage could one day end. But the fact of the matter is, many women who choose to be SAHMs are in a bad position if their marriage ends up falling apart. |
Anonymous
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OP, also remember that it is much easier to find a job when you have a job. So the salary, commute, etc. do not have to be permanent fixtures in your life. You can and should use this oppurtunity to find a better, higher paying job in a better location.
When I had my son and my salary barely covered daycare. I changed jobs after a year and by the time my son was 4 my salary had doubled. Don't just look at first year costs of talking this job - look at its potential overall. |
Anonymous
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I stayed at home for about 7 years and I am now back at work FT and my salary barely covers child care.
I am maxing out the 401k, and using the child are sending account, so I take one about 900 a month. Totally worth it to me. I love bing back a work, and I am very relieved to be back financing my retirement. OTOH I was home when my kids were infants and I really enjoyed that as well. Also, infant child acre is much more expensive. I guess my point is, don't be too terrified to take time off. Yes getting back in can be difficult, although in my case it took only a few weeks, but I am so happy I had the chance to stay home when they were really small and I am quite happy to be back at work, although I will rely admit I am making less than when I left work! OTOH I have a grea flexible schedule, What's my point? That there are so many Individual variables based on you and your situation that you should take all advice with a grain of salt and do what's best for your family. |
Anonymous
| PP sorry for all the typos , damn iPad. |
Anonymous
Nothing because their children are accessories. They will be fine as long as mommy and daddy can buy them stuff. |
Anonymous
| When we got to that point where there wasn't much left over after expenses, I quit and stayed home. Best decision I ever made. However we can get by and meet our necessities on one salary (<100K). We don't live a life of luxury but everyone is relaxed and happy (most days). That is worth way more to me than a couple hundred dollars. If we actually needed those couple hundred dollars though to put food on the table, pay the mortgage or to live, etc I would have kept working. Also my DH was on board with the plan so he isn't resentful we are down another couple hundred a month. If he had been uncertain then that too would have been a consideration. |
Anonymous
I just got a promotion! I think now I may break even! Woo hoo! |