There are some older threads addressing this topic but none recently (edit: viewtopic.php?p=7702104#p7702104) . I'm trying to project if/how our costs of children will change after they are out of day care.
- We have 2 kids under 3 years old who attend a childcare center with a total annual cost of 36K (1500/mo each). This is higher than statewide average for childcare (10K/mo) but we are in a higher cost area and there are really no alternative centers that reasonably accommodate our work and commute schedules.
- Our annual spending for a family of 4 is ~136K. Childcare is over 25% of our annual spending and our are single biggest post tax expenditure (mortgage is 28k/yr). This does not include the other costs of young children (clothes, food, medical, occasional tickets to the zoo etc).
- We are otherwise aggressive savers and save 60%+ of our net income with 2 working parents, so clearly we can "afford" this cost even if somewhat unpalatable
- I'm trying to figure out how much to budget for child costs once they are in school (still 36K/yr for 2 kids?). We anticipate using public schools and don't have much interest in high-cost/luxury activities for children. We would rather prioritize our time with our kids even if income is reduced.
Any advice or experience?
- We have 2 kids under 3 years old who attend a childcare center with a total annual cost of 36K (1500/mo each). This is higher than statewide average for childcare (10K/mo) but we are in a higher cost area and there are really no alternative centers that reasonably accommodate our work and commute schedules.
- Our annual spending for a family of 4 is ~136K. Childcare is over 25% of our annual spending and our are single biggest post tax expenditure (mortgage is 28k/yr). This does not include the other costs of young children (clothes, food, medical, occasional tickets to the zoo etc).
- We are otherwise aggressive savers and save 60%+ of our net income with 2 working parents, so clearly we can "afford" this cost even if somewhat unpalatable
- I'm trying to figure out how much to budget for child costs once they are in school (still 36K/yr for 2 kids?). We anticipate using public schools and don't have much interest in high-cost/luxury activities for children. We would rather prioritize our time with our kids even if income is reduced.
Any advice or experience?
Statistics: Posted by xcskier — Mon Mar 25, 2024 10:27 am — Replies 4 — Views 243