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trnity44
I hope you stay beautiful baby
Member since 5/05 8356 total posts
Name:
Liz
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Approximate cost of day care per month?
I'm trying to figure out if I can be a SAHM, so I'm crunching some numbers.
Can anyone give me an estimate of how much its going to cost to send DD to daycare? You can FM it of you feel more comfortable!
TIA!
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Posted 10/8/07 10:04 PM  |
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EmmaNick
*
Member since 12/06 16001 total posts
Name:
*
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Re: Approximate cost of day care per month?
I pay $980 a month for full time. When I was looking around the average was around $1100-1200 a month.
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| Posted 10/8/07 10:05 PM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: Approximate cost of day care per month?
Don't forget teh other financial pluses and minuses.
You'll spend less on gas, clothing, dry cleaning, take-out/eating out, entertainment (less date nights)
however,
You will lose out on the compounding interest of your 401K/IRA contribution. This is huge. It's estimated that every year a woman takes off in her late twenties/early thirties for child care, actually costs her 5 years towards retirement. One has to work 5 additional years and contribute to their 401K/IRA in order to make up for the loss of compounding interest on their retirement accounts. This is something most women overlook or don't realize the financial implication.
Loss of pension, benefits if applicable.
Possible difficulty getting back into your profession at the level you left. Cost of retraining when you want to go back., depeding upon profession
Extra money toward utilities because you are heating/cooling your home during the day and using more electricity.
It's different for all situations, for some it "pays" or other's it's a "cost" (This year is definitely costing me... need to work at least one more year before I can retire, I'm union) but my job is held for me for a set period of time and DH and I agreed it was important to take this year, especially since we had these two and are done.
Just some other things to consider.
Good luck in your decision. I hope the numbers say what you want them to say.
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| Posted 10/8/07 10:20 PM |
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gpsyeyes
She's my world!!!
Member since 8/06 1184 total posts
Name:
Karen
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Re: Approximate cost of day care per month?
Posted by Tah-wee-ZAH
Loss of pension, benefits if applicable.
Possible difficulty getting back into your profession at the level you left. Cost of retraining when you want to go back., depeding upon profession
Extra money toward utilities because you are heating/cooling your home during the day and using more electricity.
STAYING HOME WITH YOUR CHILD - PRICELESS!!!!!!!!!
(I wish I could!)
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| Posted 10/9/07 9:42 AM |
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KateDevine
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Member since 6/06 24950 total posts
Name:
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Re: Approximate cost of day care per month?
Posted by gpsyeyes
Posted by Tah-wee-ZAH
Loss of pension, benefits if applicable.
Possible difficulty getting back into your profession at the level you left. Cost of retraining when you want to go back., depeding upon profession
Extra money toward utilities because you are heating/cooling your home during the day and using more electricity.
STAYING HOME WITH YOUR CHILD - PRICELESS!!!!!!!!!
(I wish I could!)
I don't think it is priceless to stay home with your child. I think in a perfect world everyone would be able to choose what they want to do not based on money, but in the reality a lot of families these days need the second income. And to add to Theresa's point, it becomes harder to go back into the working world later on. My cousin stayed home with her kids til my little cousin was 5, she is college educated, had prior work experience, but couldn't find a job that paid her the money she wanted b/c she had been out of the working world for so long, sad, but true. She completely changed what she was doing career wise, so she could get a job.
I agree with Theresa, but to be honest, I was home with DS for 5 months and I am VERY frugal and I don't feel like you save a lot by not commuting, etc. In theory, you do, but that is if you never leave the house.
Sorry to hijack!!!!
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| Posted 10/9/07 9:52 AM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Approximate cost of day care per month?
$1200 is average for a FT. In my area (Eastern Nassau) it is on the "cheaper" side for a daycare center. A lot are about a bit higher than that. Especially if you work 8-5 (you have to get extended hours for daycare).
ETA: This is what I saved on when I stayed at home.
- Ate at home
- gas
- wear and tear on car
- Less "temptations" to buy clothes or
shoes
- No runs to the vending machine
- No temptations to buy food at cafeteria or out
Message edited 10/9/2007 9:59:55 AM.
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| Posted 10/9/07 9:57 AM |
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karacg
Babygirl is 4!
Member since 5/05 17076 total posts
Name:
Kara®
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Re: Approximate cost of day care per month?
But it so depends on the person - I work from home but DD and I are out all the time -
- classes together ($$$)
- eating out with the moms from the classes ($$)
- one class is in the mall so I wind up shopping a lot
- gas to take DD all over the place
- mother's helper so I can run errands
- almost every time I go out I am tempted by adorable baby girl clothes!
so even if you stay home, you can spend just as much $$ on daily expenses as if you were working, and more -- depending of course on your lifestyle. I know I spend a lot more now!
OH and PS I have no idea how much daycare costs, sorry!!
Message edited 10/9/2007 10:18:54 AM.
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| Posted 10/9/07 10:09 AM |
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KittyCat
Happy Summer !
Member since 5/05 2241 total posts
Name:
Kathleen
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Re: Approximate cost of day care per month?
I pay $1100.00 a month for daycare Full Time in Holtsville.
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| Posted 10/9/07 10:18 AM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Re: Approximate cost of day care per month?
Posted by gpsyeyes
STAYING HOME WITH YOUR CHILD - PRICELESS!!!!!!!!!
(I wish I could!)
In your opinion.
I do believe staying home with your child comes at a cost. To some the costs may seem negligible or outweighed by the benefits, to others that is not the case.
Losing a pension and and not being able to save for my children's college education are just a couple of examples...
To answer the original question - I pay just over $1000 for full time care. When I was looking around, the average price was $1200 and up.
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| Posted 10/9/07 10:35 AM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: Approximate cost of day care per month?
Posted by BabyAvocado
Posted by gpsyeyes
STAYING HOME WITH YOUR CHILD - PRICELESS!!!!!!!!!
(I wish I could!)
In your opinion.
I do believe staying home with your child comes at a cost. To some the costs may seem negligible or outweighed by the benefits, to others that is not the case.
Losing a pension and and not being able to save for my children's college education are just a couple of examples...
To answer the original question - I pay just over $1000 for full time care. When I was looking around, the average price was $1200 and up.
I agree on all counts. For me, having an amazing job that's fulfilling and rewarding, and one that I enjoy, but also gives me significant freedom to spend time with my family, as I choose, is priceless.
I'm in the philly 'burbs, but our daycare costs about $1150 a month. That's for five days a week from 7:30am-6pm.
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| Posted 10/9/07 10:42 AM |
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steph4777
**************
Member since 5/05 11726 total posts
Name:
Stephanie
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Re: Approximate cost of day care per month?
Posted by Bxgell2
Posted by BabyAvocado
Posted by gpsyeyes
STAYING HOME WITH YOUR CHILD - PRICELESS!!!!!!!!!
(I wish I could!)
In your opinion.
I do believe staying home with your child comes at a cost. To some the costs may seem negligible or outweighed by the benefits, to others that is not the case.
Losing a pension and and not being able to save for my children's college education are just a couple of examples...
To answer the original question - I pay just over $1000 for full time care. When I was looking around, the average price was $1200 and up.
I agree on all counts. For me, having an amazing job that's fulfilling and rewarding, and one that I enjoy, but also gives me significant freedom to spend time with my family, as I choose, is priceless.
I'm in the philly 'burbs, but our daycare costs about $1150 a month. That's for five days a week from 7:30am-6pm.
I agree with Beth and Sandra.....We pay $640/month for FT 6-6 in Chicago for Nate.... When the baby went it was an additional $880/month
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| Posted 10/9/07 10:49 AM |
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leighla
Support Cancer Research
Member since 5/05 16353 total posts
Name:
Lauren
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Re: Approximate cost of day care per month?
Posted by BabyAvocado
Posted by gpsyeyes
STAYING HOME WITH YOUR CHILD - PRICELESS!!!!!!!!!
(I wish I could!)
In your opinion.
I do believe staying home with your child comes at a cost. To some the costs may seem negligible or outweighed by the benefits, to others that is not the case.
Losing a pension and and not being able to save for my children's college education are just a couple of examples...
To answer the original question - I pay just over $1000 for full time care. When I was looking around, the average price was $1200 and up.
I agree too.
We pay around $1200 full-time.
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| Posted 10/9/07 10:57 AM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Approximate cost of day care per month?
I have been to a few places in Eastern Nassau and the ones I have been to range from $250 - $425 a week. I am going to be paying around $1450 a month. I have to use extended hours, so my cost is a little higher.
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| Posted 10/9/07 11:08 AM |
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ckone
LIF Adult
Member since 8/06 3014 total posts
Name:
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Re: Approximate cost of day care per month?
We were paying $1000 a month and now we're paying $960 a month - one kid.
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| Posted 10/9/07 11:11 AM |
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gpsyeyes
She's my world!!!
Member since 8/06 1184 total posts
Name:
Karen
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Re: Approximate cost of day care per month?
wow - I didn't mean to get anyone upset - I was just in a funk here at work & I couldn't resist, because the way it was written it reminded me of that commercial & I was being sarcastic in a way. I do, IMO, think staying home is priceless, though. For me, there is nothing that could compare to staying home with my DD. Again, it is Just My Opinion, that I am sharing. I don't ususally discuss it because I feel very strongly about it & would not want to have a debate because it is not my place to judge anyone else on their choices. Sorry if I didn't get the post across in the right way.
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| Posted 10/9/07 11:12 AM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: Approximate cost of day care per month?
Posted by gpsyeyes
wow - I didn't mean to get anyone upset - I was just in a funk here at work & I couldn't resist, because the way it was written it reminded me of that commercial & I was being sarcastic in a way. I do, IMO, think staying home is priceless, though. For me, there is nothing that could compare to staying home with my DD. Again, it is Just My Opinion, that I am sharing. I don't ususally discuss it because I feel very strongly about it & would not want to have a debate because it is not my place to judge anyone else on their choices. Sorry if I didn't get the post across in the right way.
no worries. 
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| Posted 10/9/07 11:15 AM |
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JenBenMen
party of five
Member since 9/06 11343 total posts
Name:
Jen
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Re: Approximate cost of day care per month?
I will be paying $285 a week
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| Posted 10/9/07 11:17 AM |
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2girlsforme
LIF Adult
Member since 8/06 3071 total posts
Name:
XXXXXXXXX
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Re: Approximate cost of day care per month?
Posted by Tah-wee-ZAH
Don't forget the other financial pluses and minuses.
You'll spend less on gas, clothing, dry cleaning, take-out/eating out, entertainment (less date nights)
however,
You will lose out on the compounding interest of your 401K/IRA contribution. This is huge. It's estimated that every year a woman takes off in her late twenties/early thirties for child care, actually costs her 5 years towards retirement. One has to work 5 additional years and contribute to their 401K/IRA in order to make up for the loss of compounding interest on their retirement accounts. This is something most women overlook or don't realize the financial implication.
Loss of pension, benefits if applicable.
Possible difficulty getting back into your profession at the level you left. Cost of retraining when you want to go back., depeding upon profession
Extra money toward utilities because you are heating/cooling your home during the day and using more electricity.
It's different for all situations, for some it "pays" or other's it's a "cost" (This year is definitely costing me... need to work at least one more year before I can retire, I'm union) but my job is held for me for a set period of time and DH and I agreed it was important to take this year, especially since we had these two and are done.
Just some other things to consider.
Good luck in your decision. I hope the numbers say what you want them to say.
Completely agree. But, I think this is largely depedent on what you do and how much you make. I am very fortunate to have a government job with unbelievable benefits and flexibility. I can and did take, a year off, unpaid, and had my position held.
My oldest child is 10 and although it is sometimes tempting to "opt out" for a few years, I've seen how difficult it can be to get back in the game. In certain professions it is insulting what you have to accept, pay wise, to return to work. I've also seen woman with children in their early teens who are divorcing and all of these women have universally told me they are sorry they stopped working.
Hope this isn't coming across as preachy, because that's not my intention. In fact, I've been very lucky to enjoy an incredible amount of flexibility and honestly don't know if I would have continued to work without it. I just think that you need to consider the whole picture. One thing that my mother drilled into my head growing up is the need to always be able to support yourself and your children, if necessary. I also think that bring in an income changes the balance in a marriage. I know that it shouldn't, but I think in a lot of cases it does. All in all it suc*s that men never have to struggle with these issues.
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| Posted 10/9/07 12:05 PM |
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LInative
LIF Adult
Member since 11/05 1977 total posts
Name:
Cassie
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Re: Approximate cost of day care per month?
We pay $600/month in VA - that includes food but not diapers/wipes.
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| Posted 10/9/07 12:19 PM |
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CkGm
They get so big, so fast :(
Member since 5/05 13848 total posts
Name:
Christine
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Re: Approximate cost of day care per month?
We got VERY lucky and found an extremely afforadable in home day care. We only pay $740 a month
ETA: I don't have a choice and have to work but I have been very vocal in the past about how I WANT to work. I love my job and its very flexible in terms of time off(I am a school counselor). For me, I get to have the best of both worlds finanical security for my family and time with my daughter at the end of my work day. She loves her day care and is learning so much.
But again, not for everyone. And if I worked until 7pm every night, I don't know what I would do. But I choose this career specifically so I could have kids and a life outside too.
Message edited 10/9/2007 12:36:54 PM.
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| Posted 10/9/07 12:26 PM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Re: Approximate cost of day care per month?
Posted by gpsyeyes
wow - I didn't mean to get anyone upset - I was just in a funk here at work & I couldn't resist, because the way it was written it reminded me of that commercial & I was being sarcastic in a way. I do, IMO, think staying home is priceless, though. For me, there is nothing that could compare to staying home with my DD. Again, it is Just My Opinion, that I am sharing. I don't ususally discuss it because I feel very strongly about it & would not want to have a debate because it is not my place to judge anyone else on their choices. Sorry if I didn't get the post across in the right way.
I can only speak for myself, but you didn't upset me. You shared your opinion, I shared mine.
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| Posted 10/9/07 12:29 PM |
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LuvMyBoys
LIF Adult
Member since 4/07 927 total posts
Name:
MOMMY
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Re: Approximate cost of day care per month?
WOW I never realized how much cheaper daycare is, we have a nanny and we pay twice as much!!!
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| Posted 10/9/07 12:32 PM |
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lvdolphins
My Loves!
Member since 5/05 46292 total posts
Name:
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Re: Approximate cost of day care per month?
I work PT a few days a week. My field was Daycare.
If I would have went back, I'd honestly be handing my paycheck right back to my boss. Sad, but, true.
Day care teachers do not make that much money. There is a "discount" but, Im sure I'd still have to pay at least $1,000 a month. So, after paying the daycare tuition, I really would not have had that much of a paycheck.
It was the decison of both DH and I that I stay home and work PT somewhere and that is exactly what I am doing. It gets me out and I still bring a little bit of an income in.
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| Posted 10/9/07 12:33 PM |
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ml110
LIF Adult
Member since 1/06 5435 total posts
Name:
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Re: Approximate cost of day care per month?
Posted by 2girlsforme
.
Completely agree. But, I think this is largely depedent on what you do and how much you make. I am very fortunate to have a government job with unbelievable benefits and flexibility. I can and did take, a year off, unpaid, and had my position held.
My oldest child is 10 and although it is sometimes tempting to "opt out" for a few years, I've seen how difficult it can be to get back in the game. In certain professions it is insulting what you have to accept, pay wise, to return to work. I've also seen woman with children in their early teens who are divorcing and all of these women have universally told me they are sorry they stopped working.
Hope this isn't coming across as preachy, because that's not my intention. In fact, I've been very lucky to enjoy an incredible amount of flexibility and honestly don't know if I would have continued to work without it. I just think that you need to consider the whole picture. One thing that my mother drilled into my head growing up is the need to always be able to support yourself and your children, if necessary. I also think that bring in an income changes the balance in a marriage. I know that it shouldn't, but I think in a lot of cases it does. All in all it suc*s that men never have to struggle with these issues.
this is SO true! i don't have kids yet, and i'm not sure what i'll do when i have to make this decision... but i know that its so important to look at the whole picture- you just never know what might happen...
i worry about this with my friend. she finished school to be a teacher, moved home to start looking for jobs, met a guy who makes $$$ and basically said " i'm not going to work. i'd rather have a family than work" (gee, thats funny becasue so many people manage to do both!)
so, she hasn't worked since they got married and now they have an 8 month old son and she stays home with him. i just worry about what would happen if , God forbid something happened to her husband down the road?? she never worked as a teacher, so she has no experience that would help her get a job...
at the same time, its so special to be able to be home with your children and be there for everything.. its such a hard decision to have to make!
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| Posted 10/9/07 12:49 PM |
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