How much do you need to earn to afford childcare?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, I am guessing you live in the city, based on where you are looking for childcare. DC has free PK3, so you will see some cost savings next year (you may still need to pay for aftercare, etc).

If you live in the burbs and are looking for childcare near your office, know that daycare is cheaper outside D.C. I paid about $1300/month for a center in Alexandria.

But I agree with PPs: look at the big picture of 401k contributions, maybe insurance savings or better options, diversified income streams, and you being able to support yourself if things go south.

And if your gut says you would rather stay home because it works better for your family, that's a legitimate option as well.

Looks like that was past tense. When was the last time you paid for a center? Even the cheapest place I found in Old Town is $300/month than that.

December 2016. I started a new travel-heavy job the first of the year, so we had to get a nanny for our 3 yo.

[Anonymous]

Anonymous wrote:Why is it your salary paying for daycare, vs the household income? Also take into account retirement, health care, your individual happiness/self worth, future earnings etc.

How don't you get this?
If OP doesn't work, there is no daycare payment. So there is a cost to her working ( the price of daycare).
If OP is a SAHM, there isn't a daycare cost.

I would never lose out on time with my kids if I wasn't making good money.
I'm not adding stress to my life and losing time with them for a few hundred bucks a month, I don't care about the long term benefits.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, I am guessing you live in the city, based on where you are looking for childcare. DC has free PK3, so you will see some cost savings next year (you may still need to pay for aftercare, etc).

If you live in the burbs and are looking for childcare near your office, know that daycare is cheaper outside D.C. I paid about $1300/month for a center in Alexandria.

But I agree with PPs: look at the big picture of 401k contributions, maybe insurance savings or better options, diversified income streams, and you being able to support yourself if things go south.

And if your gut says you would rather stay home because it works better for your family, that's a legitimate option as well.

Looks like that was past tense. When was the last time you paid for a center? Even the cheapest place I found in Old Town is $300/month than that.

December 2016. I started a new travel-heavy job the first of the year, so we had to get a nanny for our 3 yo.

Ah, I have been looking for infant care.

[Anonymous]

Anonymous wrote:You have to play the long game, and look at the big picture.

Healthcare, benefits, retirement contributions all factor in

Continuity of employment factors in--imagine yourself trying to get back into the workforce in 5 years or so. What does that look like? Will it hurt you to be out that long?

Look at your personal fulfillment and happiness--would you prefer to be home, prefer to work?

Look at it not just as YOUR salary contributing to daycare; your kid has two parents, right?

But adding her salary to the mix, adds a daycare charge. There is a cost to her working.
Her job is the variable that adds daycare fees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You have to play the long game, and look at the big picture.

Healthcare, benefits, retirement contributions all factor in

Continuity of employment factors in--imagine yourself trying to get back into the workforce in 5 years or so. What does that look like? Will it hurt you to be out that long?

Look at your personal fulfillment and happiness--would you prefer to be home, prefer to work?

Look at it not just as YOUR salary contributing to daycare; your kid has two parents, right?

But adding her salary to the mix, adds a daycare charge. There is a cost to her working.
Her job is the variable that adds daycare fees.

If OP is not earning a lot, the cost to her working is not just the daycare fees, but the stress of actually working, dealing with potential difficult bosses or colleagues, commuting, rushing every morning to get everyone out, rushing home to do dinner, and not having spend time with her kids. Cost is not always measured by $$$ as there are other day to day costs that can't be measured.