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Reply to "merging money when you become a family"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I know that you aren't asking advice about this, but as someone who has worked at home for 8 years, working at home with a baby is completely unrealistic. You are going to have to pay for daycare, and you should budget for it. Yes, it is ridiculously expensive and your standard of living may be reduced dramatically, but it is that or one of you stay at home. A college student who is willing to be a "mother's helper" will be as expensive as daycare.[/quote] I didn't ask but it was on my mind and I'm glad you posted it. Downtown daycares are so costly and have waiting lists hundreds long. In-home part-time nannies cost even more. I'm becoming more and more freaked out about how we're going to afford this baby. It's not like we're in terrible shape, but we're not wealthy. In a good year, our household income is about $140,000. What can we afford? It's become clear that we will not be able to pay a mortgage on the kind of house (small but in or close to the city) we hoped to buy. We live cheaply now in a small one-bedroom condo with tiny closets and no laundry in the unit. I could probably earn an extra $500/month renting this place out.[/quote] Agree with the PP. You will absolutely need some kind of childcare. You simply can not watch children and work at the same time - it's not possible. If you get an easy baby who takes long naps and is entertained on their own you could probably get 4-5 hours of solid work in, but only up until they get mobile. And if you have a higher needs baby than that goes out the window. For childcare options consider in-home daycares, or a nanny share where one nanny watches your baby along with someone else's. On the housing front, we made do in a 1 bedroom (where you went through the bedroom to get to the bathroom) and basement laundry until baby was 7 months old. We were definitely ready for more space at that point, but probably could have made it work even longer if we had to. Babies really don't need to take up a lot of space, and try to borrow the big but short lived equipment (swing, etc.) so you can send it right back to it's owner when you're done with it.[/quote]
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