Does your job barely cover childcare?

[Anonymous]

Does your job barely cover child care expenses? If so, how much "over" do you earn, after deducting child care and work expenses like commuting costs, dry cleaning, etc.? Do you work because you want to/love it, because you need every extra cent for your bottom line, to make some "fun money," just to keep active in your industry, or some other reason? I have been unemployed for 18 months and may be offered a job that will only pay a few thousand over daycare, after taxes. Am wondering if it's worth it, but we really do need every extra penny. We have a 3 year old and an infant.

[Anonymous]

A few thousand a lot different than "barely" covering childcare. You say you need every extra penny. I guess you need the job.

[Anonymous]

M take home is about $800 a month over child care, not including about $150 a month in commuting expenses, plus whatever other incidental costs of working. We need the money, and I know it would be very hard to break back into the workforce in 5 years when our twins are in kindergarten. Plus I want to model working motherhood for my kids. (my own mom is very successful professionally and that had a big impact on me.). It's hard, though, and we'll be in the red for the next couple years. Thank goodness we have a lot saved.

[Anonymous]

My wife wants to quit citing this. We get $1200 a month over day are now. I have tried to explain that this is not the relevant figure. The relevant figure is what she'll be earning in 5 years when the daycare expenses drop dramatically to perhaps just a nanny share. In that case, it might be $4,000+ a month. She doesn't see it that way.

[Anonymous]

I used to be in that situation. But now, my income is higher and childcare lower (kids are in school) and I am definitely glad, and well compensated, for my experience.

[Anonymous]

I make about $2500 over daycare. I've never really undestood why people act like this is "barely covering daycare." To me, that's a lot of money!

[Anonymous]

What about the price the children pay.....?
What's that worth to you?

[Anonymous]

Low childcare costs ($400/month for preschool after-care), so my salary more than covers it and I don't make that much on my own. If my salary barely covered childcare, I wouldn't work.

[Anonymous]

Anonymous wrote:What about the price the children pay.....?
What's that worth to you?

They don't charge my son, just me. They do have him help sweep and stuff though.

[Anonymous]

If you have been actively looking for work for 18 months (you say "unemployed" as opposed to SAHM or SAHD, which suggests volunrary) then I would take the job. The value you get at being in the workforce is worth a lot -- the longer you are unemployed, the harder it is to get a job. Also, are you calculating in any health care/matching benefits? If you are on your spouse's health insurance, would the new job's health insurance be a better deal and/or provide better coverage? Would it be cheaper if just you got on the new health insurance (some companies seem to charge a lot less for healthcare if it for just 1 person and not a family).

[Anonymous]

OP here. I'm not sure if I was clear above. If I take the job as-is, the child care and salary come out basically even. If I can convince them to let me work 3 long days and one half day from home, I can keep the infant home two days and save a little that way. In that case, I would be earning $5000 a year over childcare expenses, or $416 a month before commuting costs, etc. I agree with the PP that there is value staying in the field (and hopefully working up a little) so that when the kids go to kindergarten the take-home will be more. But I also wonder, as another PP does, what the cost is to my kids in the short term. And it sounds crazy to frame it as "I am away from my kids 40 hours a week in exchange for $100."

[Anonymous]

Anonymous wrote:If you have been actively looking for work for 18 months (you say "unemployed" as opposed to SAHM or SAHD, which suggests volunrary) then I would take the job. The value you get at being in the workforce is worth a lot -- the longer you are unemployed, the harder it is to get a job. Also, are you calculating in any health care/matching benefits? If you are on your spouse's health insurance, would the new job's health insurance be a better deal and/or provide better coverage? Would it be cheaper if just you got on the new health insurance (some companies seem to charge a lot less for healthcare if it for just 1 person and not a family).

Thanks. I am leaning towards taking the job for the "gap" reason. I will definitely try to squeeze every dime in benefits out them.

[Anonymous]

Had DD in 2009. Had I stopped working, I wouldv'e stopped contributing to company's 401K and missed the huge upswing that occurred in the market between then and now. At the time, I was barely breaking even with childcare expenses included. Would've missed the promotions in 2010 and 2013. Make sure you're factoring those things in.

[Anonymous]

Anonymous wrote:OP here. I'm not sure if I was clear above. If I take the job as-is, the child care and salary come out basically even. If I can convince them to let me work 3 long days and one half day from home, I can keep the infant home two days and save a little that way. In that case, I would be earning $5000 a year over childcare expenses, or $416 a month before commuting costs, etc. I agree with the PP that there is value staying in the field (and hopefully working up a little) so that when the kids go to kindergarten the take-home will be more. But I also wonder, as another PP does, what the cost is to my kids in the short term. And it sounds crazy to frame it as "I am away from my kids 40 hours a week in exchange for $100."

Agree with pps that this is the incorrect way to think about it. First of all, the childcare money is not coming only out of your salary , but also your husbands. He pays his fair share too. Second of all, paying a lot for childcare is a long-term investment enabling you to stay in the workforce. You can't think about it as paying your whole salary for care.

Plenty of moms would prefer to stay home, but have made this calculation. It is too bad we don't have more family friendly policies in this country but it is what it is.

[Anonymous]

I had to drop down to parttime after relocating for my spouse's job. I make enough to cover childcare and health insurance for me and child. It's worth it to me to keep her in childcare because:

1) I have time to actively network and job hunt
2) I can pick up short notice freelance work
3) She is in a great reasonably priced daycare that she loves and we don't want to lose her spot
4) I really like working and I don't think I would be a good full time SAHM
5) We come out a little bit ahead financially

It works for us, but I can understand why someone who really wants to be a SAHM would choose to do that for a few years rather than hustling to make a small amount of money.