XP from Jan 13: Working Moms of 2+

boggs507 · August 2013

I just found out the exact cost of having a 3 year old and an infant in FT daycare. At what point would you working moms consider working no longer worth the daycare costs? Our center continues to be one of the more "economical" in the area and DS is VERY happy there, so I'd hate to move him over a few dollars.

Just wondering if any of you have any insight to share. TIA!

LoCarb · August 2013

For me, it would be negative cash flow.

There are other things to consider other than finances (to quitting a job): insurance/benefits, growth in career, and sanity.

I'm assuming your DC is offering a sibling discount? Ask about employer discounts, if you help with referrals/recruitment, etc... It's tough the 1st yr as the infant cost is so high. Remember each time LO's move to the next class the cost decreases slightly. Every bit counts.

You can always look into other options like in home DC which tends to be cheaper. However, if you're truly happy with your current place I would stick it out and cut back on finances in other areas.

MamaAllison · August 2013

I agree with LoCarb, even if you are just breaking even there are benefits to working - grown up interaction, and no resume gap being really big ones in my book. When you start out with infant #2 that should be the most expensive it gets, and it should go down from there. I know it also might be cheaper to get a nanny than to put two in a center, and I'm considering that once this next one comes.

jf198400 · August 2013

I think it's really hard to put a number on it. I have 2 kids in DC, when they started last year it was $2280/month for an infant and 2yr old. It is now $2125 for a 1 yr old and 3 yr old. Daycare takes up about half of my net paycheck. It is still worth it for me to continue working b/c that's still a good salary that I am bringing in. My children are both very happy in daycare. If I were not working, I'd still spend money on preschool and activities for them. Also I know if I leave my career it will be Very challenging getting back in again.

itsmevkb · August 2013

I've never considered not working worth it, nor has my husband. For us, our careers would suffer if we decided to take several years off.

How long will you have two in daycare? We use an in-home and also our kids started full-time kindergarten at age 4 so if you were planning on doing that in a public school you'd really only be looking at short time of paying full-time daycare for both.

aglenn · August 2013

You have to take a long term perspective. It is not about the first few years. Your long-term career goals and retirement objectives need to be the focus. Here's a recent article that's been floating around about opting out and trying to get back in.

https://www.nytimes.com/2013/08/11/magazine/the-opt-out-generation-wants-back-in.html?pagewanted=1&_r=0&smid=fb-share

Maybride2 · August 2013

I honestly don't look at it that way. Unless we truly couldn't afford for me to work, I would always consider working to be "worth it".

shannm · August 2013

I want to work. I would have to be seriously losing money and struggling to pay our bills not to work.
Our childcare costs were 25-30% of our total take home, well over half of mine alone with two last year. It was worth it not to have a gap in my cv.

emberlee3 · August 2013

I make more money than DH does. He has never questioned whether it's worth it for him to work. There are so many factors to consider besides the cost of daycare, which is temporary.

jlaOK · August 2013

I will begin to pay for 2 in daycare in a week and I understand the pinch. I agree with LoCarb and I would only consider quitting my job if it meant negative cash flow each month. Even a few hundred dollars extra a month is enough to fully fund an IRA, make a car payment, save for vacation, etc.

I also keep reminding myself that I only have 2 years of double daycare payments. While it sucks right now, 2 years of payments is just a spec of what I will make over the course of my career.

jnealet · August 2013

emberlee3 said:

I make more money than DH does. He has never questioned whether it's worth it for him to work. There are so many factors to consider besides the cost of daycare, which is temporary.

This for me too. I also carry our insurance and the only 401K in our family right now.

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XP from Jan 13: Working Moms of 2+

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