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I have to day, seeing stories like this makes me glad I decided to forgo the whole parenthood thing because I couldn't imagine spending so much on basic childcare
I had my kids in 2011 and 2015. At that time, cost of childcare was $5k per month. $1800x2 daycare, plus $1200 a month for after school nanny. I’m so glad I became a mom and I kept working. I was able to contribute to my 401k, continue accruing stock compensation, bonus, growing my career etc. Now I make a really good salary, enjoy my career and WLB, provide for my kids and all their expenses/college, and spend time with my kids and family. It’s hard work but well worth it.
Nothing worth having comes easily.
We both work from home, so unless we area counting extracurricular activities, it's 0%
Public preschool for 2sh hours a day is
4K per school year. Extrapolate that to 8 hours and double for private vs public and you’re around 32k per child.
3% per kid
37% of my wife’s salary
Or 1% of yours 😎
0 kids, 0 costs
It’s not just childcare, having kids is just expensive, all the way up to college.
Currently paying around $175k per year for 3 kids (opportunity cost of spouse staying home with them).
You need to deduct the expenses of daycare and any other expenses your household is saving with one partner staying home with kids.
Nothing is forever. I stayed home 2 years with my kids. I went back to work and my career took off. I make more money than my spouse.
$5k/month for 2 kids. Feels unsustainable. Just need to survive the next couple of years until they’re in kindergarten.
FYI - the bills don’t go down, they are just different. Once your kids are out of daycare, you’ll need a part time nanny/babysitter because school ends at 3:10pm. Then, there is sports, dance, music lessons that will run $$$. They’ll start ordering their own food at restaurants - eating out and grocery bills double. Dental work - $$$. School trips, band camp etc. All through it, you should be putting aside a minimum of at least $1k per child per month for college. I would suggest putting more (increased national debt under Trump and he will not do anything to control college costs or reform student loans).
I have $1M saved up for my two kids education, so they can go anywhere.