After childcare costs, what % of your salary do you actually bring home?

redhead2466 · March 2011

Neat question, I have never actually crunched the numbers before. I love crunching numbers! I bring home 83.86% of my pay, so 17%-ish goes to daycare.

For 2 days/wk DD's daycare costs $500/mo (sometimes it's $450, but I'm being conservative). However, in my mind this number doesn't tell the whole story because I also work part time. So I feel like I should factor in the amount of lost wages of going from full time to part time hours, especially when determining whether paying for childcare is 'cost effective'.

DH and I plan to hire a nanny once our next baby is born (after my year maternity leave is over) and although $1500/mo seems expensive, when I factor in lost wages, it really isn't. I lose roughly $1000/mo going from full to part time hours, plus the cost of DD's daycare, and that right there is enough to pay a nanny. Without even factoring the second baby into the equation!

Halo79RN · March 2011

tosababy:
Why are you comparing it to your salary and not your husband's?

b/c , I gather, she's debating whether she wants to return to work or not... he's not debating it.

to the OP... I'd ask my self what other ways work is "worth it" to me. I did take a year off. but I went back part time b/c I love my job and I knew I couldn't be out of practice for too long and get the type of job I love back. also, look at benes, insurance? you have the option of which plan fits your family better. also retirement, life insurance, disability insurance. make a list of the benes besides what you take home in pay.

Suzi-G- · March 2011

Daycare costs about 35% of my take home pay. But I also get a 401K contribution from my employer and DS is on my health insurance. Insuring myself and him through my employer is much MUCH cheaper than putting us on DH's insurance.

Mrs.V · March 2011

After paying for DC for my two boys, I take home 70% of my pay.

TessieF · March 2011

19% of my take home will go to daycare (1 child in daycare full-time at a small center).

Aloe0l · March 2011

DH and I make about the same, and DC costs are only about 19% of my pay, so, about 7-8% of our overall income.

tosababy · March 2011

Halo79RN:
tosababy:
Why are you comparing it to your salary and not your husband's?

b/c , I gather, she's debating whether she wants to return to work or not... he's not debating it.
to the OP... I'd ask my self what other ways work is "worth it" to me. I did take a year off. but I went back part time b/c I love my job and I knew I couldn't be out of practice for too long and get the type of job I love back. also, look at benes, insurance? you have the option of which plan fits your family better. also retirement, life insurance, disability insurance. make a list of the benes besides what you take home in pay.

I just hate that that's the default.

Spenjamins · March 2011

tosababy:
Halo79RN:
tosababy:

Why are you comparing it to your salary and not your husband's?

b/c , I gather, she's debating whether she wants to return to work or not... he's not debating it.

to the OP... I'd ask my self what other ways work is "worth it" to me. I did take a year off. but I went back part time b/c I love my job and I knew I couldn't be out of practice for too long and get the type of job I love back. also, look at benes, insurance? you have the option of which plan fits your family better. also retirement, life insurance, disability insurance. make a list of the benes besides what you take home in pay.

I just hate that that's the default.

But for the woman who wants to be a SAHM it is easier to justify SAH if she says it is HER salary that is being "wasted".

celiabwatson · March 2011

Good Question: Daycare costs about 20% of my take home. It's the absolute cheapest we could possibly find. Also, I have very little taken out of my check, no 401K, no health insurance (we get it, it's just not taken out so I have no idea how much it is), nothing but state and fed taxes, SS etc.

On a related note, I'm a teacher and am off for the summer. So, we don't have childcare costs when I'm not working. However, I'm choosing to work a few weeks of summer camp at $500/week. Childcare will be $120/week so in that case it's about 24%. I thought a lot harder about doing that, not because of the slightly higher percentage but because it's "optional" because I still get my normal salary that month as well.

erikaph · March 2011

Hey ladies!! OP here.....as for the part about why I was asking only about your salary, it's just my situation. I am currently at home with my daughter (I have worked before too) and we have managed our lifestyle according to DH's salary. I guess I was just trying to figure out how much I would be comfortable earning, considering the additional costs I would also incur by working (like someone above said....gas, groceries/eating out, dry cleaning, etc).

Thanks so much for the great responses!

bunny731 · March 2011

Spenjamins:
tosababy:
Halo79RN:
tosababy:

Why are you comparing it to your salary and not your husband's?

b/c , I gather, she's debating whether she wants to return to work or not... he's not debating it.

to the OP... I'd ask my self what other ways work is "worth it" to me. I did take a year off. but I went back part time b/c I love my job and I knew I couldn't be out of practice for too long and get the type of job I love back. also, look at benes, insurance? you have the option of which plan fits your family better. also retirement, life insurance, disability insurance. make a list of the benes besides what you take home in pay.

I just hate that that's the default.

But for the woman who wants to be a SAHM it is easier to justify SAH if she says it is HER salary that is being "wasted".

Totally agree with this statement. I bring $0 home if I look at my salary alone, it is irrelevant, I am not the default SAHP.

Madringal · March 2011

DD goes to DC 3 days/week and it comes out to just 10% of my take home. In total, DC is only about 8% of our combined take home pay. We spend more money each month on groceries then childcare, so I can't complain!

rubber_chicken · March 2011

man i really need to either move to a cheaper area or find a higher paying job. after school care alone is 15% of my takehome, and full day care for another on top of that would push it to 75%.