Related Posts
More Posts
Chief
Conversation Starter
Bowl Leader
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
Sign Up to see all discussions
- Discover what it’s like to work at companies from real professionals
- Get candid advice from people in your field in a safe space
- Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.
"" is an unusual email domain. If correct, please proceed to the next step
Messaging rates may apply
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
New to Fishbowl?
Download the Fishbowl app to unlock all discussions on Fishbowl.
Share
Embed this post
Copy and paste embed code on your site
Preview
Download the
Fishbowl app
Scan your QR code to download
Fishbowl app on your mobile
Sign up for free to view this conversation on Fishbowl
Sign up for free to continue using Fishbowl
Messaging rates may apply
I know it’s very rough, but your kids won’t be in daycare forever. We weren’t able to save much when both of my kids were in full time daycare. Now they are in school and are 8 and 6 it’s like we received huge raises. We are able to save so much money now! So, I just wanted to point out there will be a light at the end of the tunnel!
If you have that kind of income and you are still “broke” than you are living above your means, maybe you bought too expensive of a home or bought brand new cars, something doesn’t add up here. None of that stuff that you bought will ever make you happy trust me.
Creative director and you don’t know what prepress means? Prepress are the people who prepare customer artwork files for offset, digital and large format printing. You’re a creative director of what?
California o New York ? maybe but we earn half of that and were fine in Cali.
But childcare is what makes the difference. Two kids in day care is many many thousands more each month than after school for one school-aged kid.
Live in Miami and I wish we made that amount. We would be set!
I
Yup! Combined £300K in London and feel broke after nursery costs, taxes etc. We dont have a luxury lifestyle!
My spouse and I are making a little a little over $450k together, no kids yet but we're planning for next year. We live in the bay and we're constantly feeling like we're living paycheck to paycheck. I'm concerned how it would be like once we have a child... Sorry I don't have any advices but I hear ya, the struggle is real... Hope 2024 will be better for you though.
oh daycare is a super expense. Thankfully my kid is in school, now we spend it in activities ( eye roll)
What we did to save a bit of money to be able to move to a bigger house, was to leave kid with grandma 2 times a week. that way he got the best of both worlds. Also home daycares are less expensive. I went with a center because I do not trust people generally speaking. Also I liked the center we picked a lot.
I know Economy right now is a pain. Everything is rising. Canada here and lost my job so we're so broke too.
I know most of you would like to be at home with the kids, right? Be the one to see them take their first steps, go to the ball game, ballet recital. I work from home and still have money to do what I want with my family. It is all about getting the right vehicle. Work for yourself and build your business, rather than building someone else's.
Rising Star
Nope. I like working. I like having the flexibility to leave and make doctors appointments and school events, etc. Ballet and baseball are after school and I get there happy and fulfilled.
There is no one right way to parent.
Inflation definitely cut into our fun money, but we also chose a house and lifestyle that had wiggle room if there’s unexpected expenses . I can’t get over the Starbucks and Dunkin habit people have. There’s a lot of ways to look at how to cut back.
But I get it. Our electric rates went up big time and I’m in a LCOL area .
We had the same issue until our kids started elementary school. We still have activities but not having the daycare payment was huge. Hang in there....also, use any pre-tax credit and write off any expenses. Your tax person can help you
Hmm that's helpful thanks, still worth it for us to just take the standard but good to know
I used think that is alot of money, but not nowadays. With the cost of essentials only, it is very difficult. I am currently looking for work, and try to get something after 5 pm.
This thread scares me to death!! 😢 I’m single income and 300k in HCOL. Have one kid and now expecting another…according to a lot of these comments I cannot afford the second…but I’m taking the step forward. I do have a 7.25k/month mortgage too!! Good thing for me is I will not have any day care expenses since we don’t plan to be both working. Am I eating more than I can chew?
Rising Star
Dang that mortgage is steep. We make about the same but our mortgage is $4.2k and that feels hard sometimes. Your mortgage payment is probably taking almost all of one your paychecks each month. I’d maybe consider downsizing if that’s an option to get rid of that intense expense.
Same here, just daycare for 2 kids is 4K a month. We share one car and live in a small and nothing-special type of home. Cost of living is just wild and I don’t know how people do it who make far less.
Rising Star
I totally feel you OP. I have 3 kids but one started school last year, so only paying daycare for two, but it’s insane! We do not have a fancy lifestyle, no one has expensive hobbies or activities m, or particularly nice material possessions (cars are 12 and 22 years old respectively), but there’s nothing left at the end of the month for fun money. I just keep thinking of the raise we’ll get when everyone can be in public school. And Nashville is super expensive.
Pro
Moral of the story: saving is about creating the right habits just as much as it is about making more money.
It gets easier once you only have to pay for after school care.
Pro
How much is your mortgage? This is usually where people over budget as how much the bank is willing to give you for a loan does not factor in your other expenses and this varies for families. We have a mortgage and a kid with a nanny and save a good amount every month. We got a house that was about half of what we qualified for. I think this is key. You might need to downsize.
Pro
Right?
I’m in a similar boat. My husband and I bring home 160k a year- we live pay check to pay check after paying for mortgage, car and day care. 1 kid in daycare at 1800/month another about to start- we decided to have my husband stay home to try and stop the bleeding. His paycheck was going 90% towards childcare and we just couldn’t justify it with another one in there too.
See how you do your grocery and you will see you can optimize the bill. Plus, put aside $50 or whatever you can per month for fun and don’t spend that in the months, spend in 2-3 months. It’s rough I can understand, once kids are in full time school you will get a “raise”
I understand. I am a single mom, make decent money, but after the bills are paid, I have nothing left. Thinking about doing a work from home in the evenings. Any suggestions?
Greetings
You are not alone. 100k single income home in Knoxville. We home school and but also pay for a coop they attend part of the week which is about $400 a month. Can’t put back to 401k even after house, utilities, groceries, student loans, and medical expenses.