Working Moms...what percent of your salary

Goes towards childcare?

I just wonder what the cut off point would be. I am still struggling with the thought that it isn't financially worth it to go back to work, and was wondering what your cut off point would be.

I think that about 60% of my salary goes towards childcare. Too much right?

Re: Working Moms...what percent of your salary

It was about 40 - 50% and dropped since we moved to NJ and a much cheaper daycare. He's older now so the toddler room is cheaper and only goes 4 days a week. Now it's about 30 - 40% of my salary, but I also have the benefits. Either way... I feel like at the end of the day there's nothing left

Re: Working Moms...what percent of your salary

for me, it would have been 50% of my take home, not worth it
I look at it like, I'm working 2 weeks out of 4 weeks to pay someone else to watch my child. doesn't make much sense

Message edited 1/10/2011 2:58:17 PM.

Re: Working Moms...what percent of your salary

about 40% of my AFTER TAX salary goes to daycare..so, after taxes, benefits and retirement, I get to keep about 60% of my take home.

Re: Working Moms...what percent of your salary

Re: Working Moms...what percent of your salary

id say 15-20% of my take home.

Re: Working Moms...what percent of your salary

78% of my monthly paycheck goes to pay daycare..yet I still can't afford to stay home.. crazy!!

eta: after taxes.

Message edited 1/10/2011 2:59:42 PM.

Re: Working Moms...what percent of your salary

30% of net pay.

Re: Working Moms...what percent of your salary

Posted by Linda1003

78% of my monthly paycheck goes to pay daycare..yet I still can't afford to stay home.. crazy!!

eta: after taxes.

Re: Working Moms...what percent of your salary

It's 50% of my take home pay. Luckily DH makes wayyy more than me so it all works out in the end.

Re: Working Moms...what percent of your salary

About 30% goes to daycare. This is what stopping us from having two. It will be closer to 65% at tha point.

Re: Working Moms...what percent of your salary

Its 60% of my take home (after taxes and my NHS contribution) And you are right, I spent £100 (about $160) a month on gas, and I have to pay £3 ($5) a day for parking, in the past I have had a free spot, but that might not happen when I return to work. But, I don't have to worry about health care because of the National Health System.

And this is not taking into account the school holidays & summer vacation. I would have to find chidcare outside of the aferschool club for Noah.

This issue is keeping me awake at night.
I have put in a flexible working proposal, but if its not accepted, I am deffo going to go. What a palaver!!

Message edited 1/10/2011 3:04:38 PM.

Re: Working Moms...what percent of your salary

Posted by SweetCaroline

Posted by Linda1003

78% of my monthly paycheck goes to pay daycare..yet I still can't afford to stay home.. crazy!!

eta: after taxes.

So frustrating. But pls remind yourself there is more to it then just today's paycheck - factor in your retirement, benefits, and place in the workforce...

Re: Working Moms...what percent of your salary

38%

ETA: 38% and really that's the most I'll ever be able to afford. But I rounded up a bit. I could never afford 2 or more.

in NY it was 50% and I was dying!

Message edited 1/10/2011 3:05:39 PM.

Re: Working Moms...what percent of your salary

Posted by Linda1003

78% of my monthly paycheck goes to pay daycare..yet I still can't afford to stay home.. crazy!!

eta: after taxes.

Re: Working Moms...what percent of your salary

Posted by maybesoon

Posted by Linda1003

78% of my monthly paycheck goes to pay daycare..yet I still can't afford to stay home.. crazy!!

eta: after taxes.

you only get 22% of your take home after you pay daycare

Message edited 1/10/2011 3:05:51 PM.

Re: Working Moms...what percent of your salary

40%... although Alex will be in public school next year so it will drop significantly to about 20%.

Although, truthfully, even if it were upwards of 70%, I would still work, because of the benefits (health, retirement, etc), and the uninterruption of my career, and because the daycare expenses are only temporary...

Re: Working Moms...what percent of your salary

To me, there were many more factors involved than just the take home.

I just read this article today that was a reminder of why I continued working, and helps make me feel more comfortable with my decision.

Hope you find clarity.

Re: Working Moms...what percent of your salary

I am still too scared to calculate it!

Re: Working Moms...what percent of your salary

it's very hard for me to say.

some would say I have "free"childcare, but I beg to differ.

while I do not pay my MIL to watch my son, we pay her rent and all of her living expenses.

so built into our grocery bill is her food for the month, built into our living expenses is the things she needs/wants...a new purse, a much deserved vacation, new shoes/clothes etc.

it's definitely not enough to make me consider being a SAHM (b/c truth be told, we'd have to pay these expenses anyway and on one salary it would kill us) but it's far from free.

Re: Working Moms...what percent of your salary

Posted by Sandy55

I am still too scared to calculate it!

Re: Working Moms...what percent of your salary

36% of my net salary goes to childcare.

I think if it were more than 50%, I would not work.

Re: Working Moms...what percent of your salary

Re: Working Moms...what percent of your salary

1/3 of my take home - w/ baby #2 it will be 2/3 -

but I'm also maxing my 401k, paying the life insurance policies directly from my paycheck, the health insurance out of my check, my commuting costs are deducted from my check, I also contribute to the FSA(s) for health Care and Daycare .......
If I didn't do all of that, it would be significantly less

IMO it's a small price to pay for the few years we're paying for daycare.
If I took myself completely out of the workforce for 5 years and then went back - I wouldn't go back to what I will be making 5 years from now while I continue and get promoted etc -

Re: Working Moms...what percent of your salary

Mine is about 25% of my net salary.