Reply to The $15 per hour nanny

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[quote=Anonymous]So $15/hr is somewhere between $31-43k a year, if it's 40-50 hrs/wk with overtime paid for anything over 40 hours.

Taxes: 15-20% depending on if you're in VA, MD, or DC
That leaves 26k - 34k after tax. So, let's go with a monthly budget of $2167 - 2833. I had a lot less to live on when in NYC, but generally speaking for a single adult:

-Rent: either rent a room in the district or have your own small apartment in the burbs near your employer for $800-900. 
-Food: $300-400 (assuming food is a perk of the nanny job)
-Car(insurance, gas, loan): $250
-Cell: $50
-Health Insurance: $200 for individual plan via new health exchange at this income level
-Other: $400

I'm assuming the job doesn't offer many perks but we're planning to pay for our nanny's car insurance and gas since she'll be driving our kids around and we don't want her skimping on insurance. Given how cheaper the new individual plans are via the health exchange, we also plan to offer that as a benefit simply because it's easy, cheap, and the nanny doesn't have to pay taxes on it vs if she just gave her the cash as a bonus.

If we're talking about some one with a child or other dependents, I think a lot of other things come into play, like access to subsidized housing, subsidized preschool, school meals etc - at least in the area where I live, the income caps for those benefits are in the general range of what a nanny might make. So that's an entirely different exercise. [/quote]

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