Anonymous wrote:I'm the OP. My husband and I are not high earners for our area and consider ourselves middle class. Our HHI is $270k but we have a PITI of $3300 and Student Loan payments of $1000 are our two largest expenses outside childcare.
I was just trying to get an idea of whether we're completely way out of our league to hire a nanny rather than go with traditional daycare setting.
I know we can make adjustments in our lifestyle to afford it so its jut a matter what we want to prioritize...and of course, child hare is way up there in list of priorities. Anyway, it was really just out of curiosity.
Anonymous wrote:I’m feeling pretty financially challenged by these posts (like I need your guys’ financial planner!). How does one live in the area, make 200k a year, and can still afford a nanny?
I know that it’s possible, but feel like we wouldn’t have been able to do it if that was all we were bringing in. We felt the financial hit of a nanny with an HHI of 405k (of course not that we were cash strapped, but still a noticeable hit to finances).
Anonymous wrote:$250k. We prioritize the childcare and the language exposure for the kids. We do have some family help as well which makes it easier.
We had a nanny for 3 years for our first kid and will no for the second as the roar is in full day preschool. It was worth every penny as the oldest had 3 colds total in the 3 years of the nanny being with us, grew up fluent in my native language and can now go to immersion preschool without issue.
Anonymous wrote:I’m feeling pretty financially challenged by these posts (like I need your guys’ financial planner!). How does one live in the area, make 200k a year, and can still afford a nanny?
I know that it’s possible, but feel like we wouldn’t have been able to do it if that was all we were bringing in. We felt the financial hit of a nanny with an HHI of 405k (of course not that we were cash strapped, but still a noticeable hit to finances).