What Percent of Your Income Do You Spend on Childcare?

[Anonymous]

Anonymous wrote:The title says it all. I earn $75k. With two children under 4, childcare costs are $50k. Should I just stay home until the youngest is in Kindergarten?

You need to find cheaper childcare. Are either of your childre special needs?

[Anonymous]

So take home is like 9k a month and we were paying 4500 a month for two kids under 4. We shopped around but now we are paying 1500 a month. It goes up to 2500 in the summer but I feel like we got a good deal. I want to caution that you get what you pay for
The cheaper option isn't great and we will have to do more supplementation at home.

[Anonymous]

Anonymous wrote:30k for daycare. Combined income 225k. So 13%. It’s insane. Very worried for when future kids come along. Trying to get into a different center that would be 24k or 10%.

Your gross income in 235k? If so 30k is much more than 13%. You only get 75% of your income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The title says it all. I earn $75k. With two children under 4, childcare costs are $50k. Should I just stay home until the youngest is in Kindergarten?

When I had my first kid I made 55K/yr, I spent $14,300/yr on childcare. When I had my second kid, we went to a nanny, I made 90k/yr and spent 45K on childcare, plus another 5K on church based preschool. This was 9 years ago.

This year I am on target to make 296K and am very glad I played the long game and never was short sighted about my career.

Sigh. Another self satisfied mom who did everything right. Congratulations for winning life.

[Anonymous]

We make $280k a year.

We spend $3300 a month a day care (Fairfax)

So about 15%

The monthly payment is a little more then our mortgage every month. The 5k in tax deferred payment helps a little, but it still hurts to see that payment go out each month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The title says it all. I earn $75k. With two children under 4, childcare costs are $50k. Should I just stay home until the youngest is in Kindergarten?

When I had my first kid I made 55K/yr, I spent $14,300/yr on childcare. When I had my second kid, we went to a nanny, I made 90k/yr and spent 45K on childcare, plus another 5K on church based preschool. This was 9 years ago.

This year I am on target to make 296K and am very glad I played the long game and never was short sighted about my career.

Sigh. Another self satisfied mom who did everything right. Congratulations for winning life.

Seriously. You do recognize (smug $296K poster) that MANY of us are in careers that will never make $296K. I work in healthcare, in a very rewarding career that impacts many lives. I have 2 master's degrees from top 20 universities.
I make $110K after 20 years of working in this field (worked my way up from $50K).

[Anonymous]

nearly 20% of our take home

[Anonymous]

We paid 18K/year for one 13 Years ago, we were going to put off the second until the first was in public school and we were lucky to got help from my mom so she covered the cost of one of them for the two years we had two in daycare/preschool. I feel like as the price went down from infant to toddler to preschool they would just increase the rates so that the price never really went down.

This is the first year I have not put any money into a childcare FSA as my kids don’t do aftercare and they only do sleep away camp. The price has not gone down over the years by the way, we just spend it on different things for them, I think we are at about 22K/year on their various camps and activities. I do not see this changing until they are out of college.

[Anonymous]

We pay about $19k in DC for 1 toddler. Our infant is about to start in a month and she'll be $21k. But, our toddler will go to DC public schools next September (where aftercare costs $850.50 per year).

HHI is about $290k, so
- currently, we pay 19/290 = 6.5%
- starting in January, we'll pay 40/290 = 13.8%
- starting in September, we'll be down to 22/290 = 7.6%