Nanny Share vs. Day Care

[Anonymous]

Anonymous wrote:

Anonymous wrote:Four years ago we had a nanny share in upper NW DC with a fabulous nanny for $19/hr. Our share of that (exact 50%) came to $1,400 in paycheck and around $300 in taxes. So a monthly outlay was about $1,700, all told. You can definitely get into a nanny share for $19/hr and find a quality nanny.

Honest question: isn't it "all tolled" - as in all collected? I might be wrong so I'm actually curious.

It's "all told" because it means having declared all the misc. expenses. Thing of your cell phone bill, maybe it's only "$49.99" for your plan but that isn't what you pay. All told (taxes, surcharges, etc) you would end up pay $61.34.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Four years ago we had a nanny share in upper NW DC with a fabulous nanny for $19/hr. Our share of that (exact 50%) came to $1,400 in paycheck and around $300 in taxes. So a monthly outlay was about $1,700, all told. You can definitely get into a nanny share for $19/hr and find a quality nanny.

Honest question: isn't it "all tolled" - as in all collected? I might be wrong so I'm actually curious.

It's "all told" because it means having declared all the misc. expenses. Thing of your cell phone bill, maybe it's only "$49.99" for your plan but that isn't what you pay. All told (taxes, surcharges, etc) you would end up pay $61.34.

I'm the PP above - just clarifying that $300 was for employer taxes. The nanny paid her own income taxes out of her paycheck. My total monthly cost was $1,700.

[Anonymous]

But, you're also going to have to be able to cover the nanny's vacation and sick days. If one of you can always take off work, that won't add to your cost, but if you have to hire someone else, that would be on top of what you pay the nanny. Also, overtime (over 40 hours a week) has to be paid at time-and-a-half, and you do have to pay employer taxes.

Also, if you're right at the edge of your budget, you can't offer a raise, and it may be difficult to make a change if the first share or nanny doesn't work out.

OP, I don't think it's impossible, and if you're just thinking of a nanny for the first year or two you can probably make it work. However, it can be very stressful being an employer if you feel like you're stretching to barely cover the employee's salary.

[Anonymous]

OP, if you are looking for a nanny SHARE, I think all the people who are telling you your budget doesn't work are wrong. For example, we pay our nanny $18 per hour, which works out to $9 per hour per family, plus 1.5x for overtime. It works out to about $1800 per month for us.

[Anonymous]

Anonymous wrote:OP, if you are looking for a nanny SHARE, I think all the people who are telling you your budget doesn't work are wrong. For example, we pay our nanny $18 per hour, which works out to $9 per hour per family, plus 1.5x for overtime. It works out to about $1800 per month for us.

Do you offer her PTO?
What about bonuses?
What about raises?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, if you are looking for a nanny SHARE, I think all the people who are telling you your budget doesn't work are wrong. For example, we pay our nanny $18 per hour, which works out to $9 per hour per family, plus 1.5x for overtime. It works out to about $1800 per month for us.

Do you offer her PTO?
What about bonuses?
What about raises?

This isn't a professional position.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, if you are looking for a nanny SHARE, I think all the people who are telling you your budget doesn't work are wrong. For example, we pay our nanny $18 per hour, which works out to $9 per hour per family, plus 1.5x for overtime. It works out to about $1800 per month for us.

Do you offer her PTO?
What about bonuses?
What about raises?

I'm the PP upthread with a $19/hr nanny share. We gave 2 weeks vacation, which we coordinated between families. We've only stayed a year, so I gave a bonus when we left the share. She can start with $18/hr to leave a little room for raises.