Financial benefits of switch from nanny to daycare?

[Anonymous]

We have a 2.5 yo son and have had a nanny since he was born. Makes life very easy. But our hhi is 300k and we spend about 65k/yr on nanny salary, payroll taxes, breedlove fees, daytime activities. Also, our son LOVES being around other kids now. For those who have switched from nanny to daycare, has it been a big financial benefit?

[Anonymous]

From a financial perspective it will be much better. Even the most expensive centers that offer full day care will run you around $2k/month for a 2.5 year old. You also will eliminate the cost of daily activities. So that should leave you with a significant savings.

[Anonymous]

We paid about $15K for our full-day preschool, so that's a huge savings. If either of your companies has a daycare FSA, you could withhold up to $5,000 pre-tax and save even more money that way. Plus the added activity fees would be minimal.

Just be prepared for the immunity issues his first year of exposure to a bunch of other little kids. Assume that you will need to take probably 10-12 sick days between the two of you. It helps to have flexible teleworking.

[Anonymous]

$65k / year? Wow. Yeah, we were in a nanny share, so we didn't pay that much, but the switch to a center has been better. Now we pay about $17k / year, and they include food for our very hungry caterpillar.

We save a ton on paper towels alone.

[Anonymous]

If plan to have other children, think about how that might impact your child care choices.

But in a vacuum, yes. Immediate and significant cost savings.

[Anonymous]

You should not have to pay for activities for your nanny to take your child to. She should be meeting people at the park or library or story time and setting up playdates for your child to socialize with others.

[Anonymous]

Anonymous wrote:$65k / year? Wow. Yeah, we were in a nanny share, so we didn't pay that much, but the switch to a center has been better. Now we pay about $17k / year, and they include food for our very hungry caterpillar.

We save a ton on paper towels alone.

Ok, so I am glad to see that I am not the only one who goes through paper towels at an exponentially high rate. I thought maybe Bounty was shorting me towels on each and every roll.

[Anonymous]

That is crazy high for a nanny unless the hours are very long. Fwiw we switched to a daycare around age 3 and didn't have more than a few sick days.

[Anonymous]

OP: "Are there financial benefits to spending less money? Thx."

[Anonymous]

Finances aside, I much much much preferred daycare and was so happy to switch.

[Anonymous]

Anonymous wrote:OP: "Are there financial benefits to spending less money? Thx."

Terrible news for the economy at large. Someone just lost a job. OP's concern is no joking matter.

[Anonymous]

OP, we switched at 15 months from nanny to daycare for $/social reasons. However we didnt realize how CONVENIENT the nanny was. Obviously she watched our child but she did so, so much more. Meal prep for LO (making baby food when younger), washing bottles, doing DS laundry, putting away clothes, sorting seasons and letting me know when we need new stuff, running child-related errands, even swiffering the floor, etc. She even organized our linen closet for us. She didnt do much that wasnt child-related on a regular basis (other than the swiffering) but it was a surprise when we started daycare and realized how much more work we had to do that we had taken for granted.

Can you send your LO to part time preschool and have nanny transition into a nanny/housekeeper role?

[Anonymous]

Anonymous wrote:We have a 2.5 yo son and have had a nanny since he was born. Makes life very easy. But our hhi is 300k and we spend about 65k/yr on nanny salary, payroll taxes, breedlove fees, daytime activities. Also, our son LOVES being around other kids now. For those who have switched from nanny to daycare, has it been a big financial benefit?

Cant you cut the breedlove fees and do it yourself to save $?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have a 2.5 yo son and have had a nanny since he was born. Makes life very easy. But our hhi is 300k and we spend about 65k/yr on nanny salary, payroll taxes, breedlove fees, daytime activities. Also, our son LOVES being around other kids now. For those who have switched from nanny to daycare, has it been a big financial benefit?

Cant you cut the breedlove fees and do it yourself to save $?

Terrible idea. We did that one quarter and spent at least 50 hours sorting out everything.

[Anonymous]

Most nannies are 3-40k a year, wasn't worth it for us