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Hey all, please give me some ❤️ so I can send a dm
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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?
Would it be better if one of you quit and become a stay-home parent? In addition to the money you would save from daycare, your taxes will be significantly lower.
Nope…we are in the situation in which we both make too much to quit working but not enough to comfortably afford daycare. I have never done the math tax-wise though. Maybe worth looking into.
Yep! Single and everything I pay for has gone up, and my income went down
Yes. My husband and I live in the suburbs of Los Angeles (about 45 minutes from downtown, almost an hour and a half from his job in west L.A.) in a very modest home and make just under $300k combined and constantly feel strained about making ends meet. One kid is out of college, the other is in public middle school (so no daycare expenses) but everything just costs so much. He didn't get a cost of living raise and I received a raise that was half the current rate of inflation, which I know will further strain our finances.
Yep, You may have an "income" of $200k, but it's always interesting to see what the take home pay is!
Pro
Does it make sense for both of you to continue working? Have you done that math?
Exactly, staying home with kids is HARDER, more taxing than any other job. The hardest job there is, male or female, is holding down the fort at home with kids.
Sounds like you bought an expensive home
Pro
Doesn’t matter if you can’t afford it. That’s a luxury, not a necessity.
When I was working our combined income was like...170-ish or 180K.
I had to become a SAHM because daycare cost more per month than what I made.
In MA some daycares wanted 3000/month for a baby. This year we have to move (again) because rent is going up.
2 kids, no pets. Got rid of car.
We can barely save ourselves, so 200k with struggles? I believe it.
I usually do clearance grocery shopping and use buy nothing groups for things, kids clothes. But they don't really put produce on clearance (maybe S&S still does but there isn't one near me). And food pantries- which sometimes has more than food stuffs. Just avoid sweets because eating poorly costs more money. We also do 2Good2Go but it's getting competitive...like down to the seconds.
For treats we only do it if there's a good offer or coupons. Like Uber had a 60% off. So I got three healthy dinner salad/warm bowl things for less than 15 bucks. Oh and Groupon. Colleges tend to sell discount movie tickets to students so if you know someone I'm sure they wouldn't mind giving them to you at cost. I hoarded the ones from my college days...
Perhaps you need to revisit your finances and see where you can save up? Monthly budgeting works and finding low cost alternatives. Also have same combined HHI living in MA. We got 2 kids one in daycare, one in 2nd grade. Mortgage, one car (downsized to one and utilized public transpo). If you also can find additional income(side hustle) if you can.
Rising Star
That’s generally good advice, but Nashville is one of those cities where housing prices have gotten way out of whack with salaries and the commuting is terrible because the roads weren’t built to handle the booming population.
Pro
If you can’t afford it, you can’t afford it. Yes that might mean you can’t afford a great school district. People making $60k deal with the fact that they can’t afford certain luxuries in life and survive. Everyone can’t live in the best school district by definition. That’s the point. OP thinks they “deserve” a $6k mortgage house on $8k income when they simply can’t afford it.
Chief
Yes. We both have advanced degrees. We thought we did it right. We’ve had to borrow against our 401ks just to keep the momentum going.
We are In the same boat . Sorry🤍
Yup. We are in the same boat with 1 car, mortgage, daycare, groceries, etc.
We make about 185k combined for a family of two, Mortgage, 1 Car payment, credit cards, insurance, house bills, kids travel sports, with no daycare and we barely are making it.
Yeah we have to sit down and figure out what exactly is going on. I think we need to order out a little less but otherwise we’re not excessively shopping, getting our hair professionally done often and the kids have minimal activities.
I’m sorry, but I’m a single mom making $47k a year and barely making it…please tell me how you each make $100k, I would love that!