Did you all panic over daycare expense?

amanda_wahl

So while I'm not in your positions of 2u2 just yet am very hopeful to be:) our first is approaching 8mos and we really want all our kids to be close in age but the more I think about it I just end up panicking over the potential double in daycare! I know it's crazy but it's the only "big setback" I can imagine making me freak! I figured all you experienced women could shed some positivity and insight on the matter and how your families have found good ways to budget and or manage finances! Thanks! 

WhitePicketFence

Well, I'm a SAHM so daycare expenses never factored into the equation.

If you are able to afford 2 in daycare, I'd try not to worry about ?t too much. Kids are expensive and it's only for a short time anyway. If you are unable to afford it or it will make money extremely tight, then I'd either look into other (less expensive) childcare options or consider putting off TTC until you've got more room in your budget.

mbgreenwalt

Our daycare and medical insurance payments make me want to vomit every month.  We love our DCP and she is really affordable, but it is still a lot of money.  We make it work, but it is tight.  I coupon, I am a thermostat dictator and we limit our luxuries.

sosoph

mbgreenwalt:

Our daycare and medical insurance payments make me want to vomit every month.  We love our DCP and she is really affordable, but it is still a lot of money.  We make it work, but it is tight.  I coupon, I am a thermostat dictator and we limit our luxuries.

Haha. I have always preferred it on the cooler side, and just keep reminding dh of the savings as I toss him a sweater!

CBBB2010

We had the kids in an amazing daycare center that we loved and we thought we could budget to afford to keep them there, but after a month we decided it was just too tight financially.  We moved the kids to an in-home daycare and are saving $200/week compared to the center.  I still prefer the center, but it is hard to beat the cost savings.

jf198400

It is a huge expense more than our mortgage but its worth it. Obviously you shouldn't TTC yet if you really can't swing it, but if its just a mental thing then try not to worry too much. Besides things can change by the time LO2 arrives. My DH got a big raise between our 2 kids and I changed jobs after ds2 and got a decent raise.

blueandgray

Yes, the cost makes me want to vomit!  But we have budgeted it out and we really like the center DD is at and all the conveniences it brings so we are planning to put LO2 there as well.  What gives me hope is that we are in a really good public school district, so once Kindergarten hits, we will save some money.

I'd start researching options and see what works in your budget.  Perhaps there's another less expensive center that you might like.  Or I believe in many cases, a nanny is more cost-effective for 2 kids than DC is.  Or maybe an in-home daycare provider is an option you can look into.  Maybe even cutting back your/your SO's work hours to PT makes more sense.  Knowing your financial limits is good sense with family planning, you are already taking the right steps to look into options before TTTC which is very responsible.  Good luck!

t.bird

we have a nanny for 3 days per week (10 hour days) & she = more than our mortgage. the other 2 days the girls go to my mother's & my mil's.

but, getting a nanny was actually cheaper overall than putting the girls in daycare-  we live in a semi HCOL of area. 

it's crazy $- but right now it's worth it for me to still work because i still bring in $, i contribute to my 401k & etc. 

skyejo

I like to think of it this way.  We want multiple kiddos and I want to keep working--love my job and it keeps me sane--so eventually we will have to foot the daycare bill for each kid.  Might as well have them close together so we can capitalize on the second sibling discount of 10%.

I go back and forth practically daily on the spacing of #3 since that bill really makes me want to fall out of my chair. But at the end of the day the daycare costs are only for a short period of time.  We might just have to be more careful with our money during that time.

We keep an Excel spreadsheet for every dime we spend and that's really helped us see where our money is going and where we can cut back.  GL with whatever you decide!

gajumper

Yep!!  Having 2 in DC will be more than our mortgage payment and our DCP doesnt offer any sort of discount and is also NOT the cheapest one, but its on the campus where I work.

I will become a SAHM once #2 arrives because I would simply be working to pay for daycare and the gas to get to work...not a penny more.

darrahmccall

YUp! Its a mental thing for us! We planned this so we can't really complain. But we will be paying  about 600 to 700 a month op for both. More than my car! Its nauseating to think about. But I realize its a pretty good price and I love love love my day care! My son has learned so much and at a faster pace than his non day care cousins. (Not saying daycare is better by any means! My mom stayed home with me and i loved it!) If I could stay home I would, but I do have summers off. 

 

Anyways! Ya we talk about it a lot. We are trying to see where we can save money like getting rid of cable and just doing Netflix and hulu. Haven't done it yet though.

I 

virginiagirl11

Yep, that and my increased health care costs this year. Makes me want to puke all over the place. Also, we pay for full-time daycare but only use it part-time because we have a babysitter who comes to the house twice a week while DH works from home. Those two days a week at home with the sitter are worth their weight in gold to us because DS gets fantastic 1-on-1 attention and education from her. The daycare he attends is one of the best in the area but we aren't comfortable with his being there for 40+ hours a week.

Adding another kiddo to the mix easily pushes us over our mortgage and pretty much eliminates any discretionary spending we had. But we wouldn't be able to sleep if it were any other way. Our top priority while the kids are young is giving them the absolute best daily care they can get.