So recently my DH and I have been talking about having another child. We already have Caleb who is 2.5 and he is wonderful. But daycare costs in this area are insane. Having another child in daycare would mean another $1000 a month in daycare charges alone (we are already paying $950/month for Caleb). Even figuring that we won't be buying anymore diapers than we are now because Caleb will be potty trained by the time Baby 2 were to come along and all other expenses could be easily absorbed, it seems almost impossible to carve $1000 out of our already tight budget.
Yes, we are working hard at getting out of debt. In all likelihood, we will be out of revolving debt in the next year, but that would only free up about $500 per month. In order to come up with the rest we would have to stop putting money away in savings, which I am hesitant to do.
Everyone we have ever talked to has said, if you wait until you can afford kids you will never have them. And I can understand that you do what you have to and make sacrifices where needed, but I can't seem to wrap my head around the economic implications.
I know what some of you will be thinking...Could I stay home with the kids? While it is true that 2 kids in daycare is expensive, I currently make the same amount of money as my DH. So one of us staying home would mean cutting our income in half! Plus, I have worked VERY hard to get where I am and I ENJOY working. Many of my "friends" don't get that but I am done apologizing to them for making the decision that is right for me.
OK, whine fest over. I know I should stop being so selfish and just get over my hang-ups. *sigh*
Another child=forever in debt?
March 27th, 2007 at 03:21 pm
March 27th, 2007 at 03:34 pm 1175006052
Then again if you rather work, I here you too. Can you work opposite schedules or both work part-time to cut daycare expenses??? I also noticed the daycare went way down once the kids turned 2 & even 3. It is insane the first 2 years. You may want to shop around. My son is in a daycare part-time that is about as cheap as they come but so excellent I wouldn't put him anywhere else. My hubby stays home with the kids, but needs a break and the boys need socializing. Could not even imagine it before he turned 2 though - way too pricey and out of our budget.
I keep 90% of my paycheck since we are only 1 income. Was certainly not the case before. Just FYI. If you want to send me a private e-mail I could always review your tax situation and see if you would benefit from cutting your income. But it all comes down probably to you like your job. Does your dh like his???
March 27th, 2007 at 03:35 pm 1175006138
March 27th, 2007 at 03:43 pm 1175006603
People who give you this advice are not going to pay your family's expences. This mentality sounds very irresponsible to me. A world would be a better place if people had children only if they could afford to support them. Wars could be avoided.
I think parents have an obligation to give children stability, security, and even some opportunity in life. And not sing the "I sacrificed everything for you, gave up my dreams.... so that you can accomplish something" song. Passing on the responsibility for success and dreams on to their child, instead of having done it themselves. Kind of hypocritical.
March 27th, 2007 at 04:42 pm 1175010132
March 27th, 2007 at 05:03 pm 1175011415
March 27th, 2007 at 06:23 pm 1175016238
March 27th, 2007 at 06:35 pm 1175016935
March 27th, 2007 at 08:42 pm 1175024545
March 27th, 2007 at 11:52 pm 1175035944
Best of luck to you!
March 28th, 2007 at 01:11 am 1175040699
I was just thinking these last few years have been more financially drainig than I ever imagined so I can't fault you for wanting to keep working. Was lucky to have a hubby who hated his job so made sense. But if not the battle would be on who would stay home, or most of the income would go to daycare. But the big picture is it won't put a dent in your income (taking a break in a career) so even when daycare is so expensive, it can pay off for the long run.
I wouldn't write off PT care. At face value it is unheard of here but I now have a son who goes in 2 full days a week and she is willing to take my younger son 1/2 day a week when he is ready (now that she totally loves them both). But she has a couple of kids who only come 2 days a week and such (different days than my son). Harder to find, but more common than you think.
Well good luck whatever happens!!!
March 28th, 2007 at 01:54 am 1175043279
It's always a big decision to make. We have 3 kids and I really wanted to stay home with them. In order to do so, I quit a job that I loved and started waitressing 2 shifts a week when Dh was home. I wasn't fond of that job, did it for 6 years, but it was important to me to be home with my kids and that's what it took for us to afford it.
Everyone's different. I'm not implying that you should quit your job and stay home...it'll all work out. Always seems to!