Nanny share budget?

[Anonymous]

Hi everyone! My husband and I are expecting our first child so I am a complete novice here. I have read the threads concerning average nanny rates, etc. but I have a specific question I was hoping to get advice on.

We will be looking for childcare for our three month old. Our budget is $1,200/month. Would a budget in that range be feasible for a nanny share? We would be willing to host and also have a car available for use. This would be for full time care but no housekeeping. I'm just trying to get a grasp on if we have the resources to do a nannyshare or if daycare is more feasible.

Thanks!

[Anonymous]

You're looking at a minimum of $9/hr for a share assuming the other family pays the same (probably $10, but I don't know where you live). All hours over 40 at 1.5x (so minimum $13.50). Plus add another 12% for FICA taxes, unemployment insurance, workman's comp, and at least one week's pay for a bonus at Xmas.

For a 40 hr week, that comes to $1560/mo just for the hours ($18,720 for the year).

Your budget comes to about $7.25/hr. Assuming you could find someone to take it, you will likely find nanny care comes with a lot of unexpected costs that you weren't anticipating. I think you will feel resentful pretty quickly.

[Anonymous]

You will not be able to find a nanny share situation for $1200/month.
I think it's unlikely that you will find a daycare center for that budget.
You *might* be able to find a home day care situation for that budget, depending on where you live.

[Anonymous]

Yes if you are located anywhere in DC, MOCO, or NOVa you are looking at either home daycare or stay at home mom. Aupair can work but you Will have to provide extra which will bump the budget up.

[Anonymous]

You will need to budget $2200-2500 a month. Most nannies charge between $22-25 for two babies in the DMV.

[Anonymous]

You may have more luck with a nanny who already has her own kids and wants to have them with her. I have a friend who does that and pays around 1300 a month.

[Anonymous]

If your in DMV, even daycares charge more than $1200!

[Anonymous]

Anonymous wrote:You may have more luck with a nanny who already has her own kids and wants to have them with her. I have a friend who does that and pays around 1300 a month.

There was a post on here a few weeks ago from a mom who wants to be a nanny and bring her own child. She wanted $15/hr--so more like $3000/month for full time.

[Anonymous]

Thanks everyone. OP here... I've found daycare that is well within that range but appreciate the feedback regardless.

[Anonymous]

OP, sorry but you will never find a nanny for that price. Are you sure that $150/week is all you each can afford? I ask that not in a disrespectful way- but as an MB I have had to cut many costs elsewhere in order to afford a quality nanny. I started out my search with a very tiny budget like yours, telling myself I couldn't afford any more. But in reality, I could afford it, I just didn't want to. The number shocked me. I talked to a friend who put something in perspective for me- this person is going to be taking care of my child, the absolute most important thing in my life. Why would I ever want to skimp on that and try to get the absolute lowest price? So, I looked at my budget again and now childcare is one of my highest expenses, and I'm fine with that. I trust the woman who takes care of my child 100% and I pay her what she's worth. It's eye-opening what you can "make" yourself afford when you put it as your first priority. This isn't meant to sound asshole-ish...you could put your child in a daycare for that price, but it wouldn't be even close to the quality care you'd get from an experienced nanny.

[Anonymous]

Anonymous wrote:Thanks everyone. OP here... I've found daycare that is well within that range but appreciate the feedback regardless.

So you're definitely not in DC... Unless you mean an in home daycare and still "well within that range" has me skeptical.

[Anonymous]

Anonymous wrote:OP, sorry but you will never find a nanny for that price. Are you sure that $150/week is all you each can afford? I ask that not in a disrespectful way- but as an MB I have had to cut many costs elsewhere in order to afford a quality nanny. I started out my search with a very tiny budget like yours, telling myself I couldn't afford any more. But in reality, I could afford it, I just didn't want to. The number shocked me. I talked to a friend who put something in perspective for me- this person is going to be taking care of my child, the absolute most important thing in my life. Why would I ever want to skimp on that and try to get the absolute lowest price? So, I looked at my budget again and now childcare is one of my highest expenses, and I'm fine with that. I trust the woman who takes care of my child 100% and I pay her what she's worth. It's eye-opening what you can "make" yourself afford when you put it as your first priority. This isn't meant to sound asshole-ish...you could put your child in a daycare for that price, but it wouldn't be even close to the quality care you'd get from an experienced nanny.

BLECH!!!! So if OP can't find the money, her child isn't precious enough to her?

I am also a MB; I was also shocked by the cost of a nanny. However, my perspective came from realizing that this was this woman's job, and she needed to make a living. I also realized that I wanted to pay enough that someone wanted to come to work and do a great job every day. I never in a million years believed that my child would be unsafe or uncared for in a good daycare situation. There are even advantages to daycare, for me and my child, but I wanted the control I get with nanny care.