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The Cost of Working


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  #1  
July 30th, 2009, 06:05 AM
Resi's Avatar Platinum Supermommy
Join Date: Nov 2005
Location: Indianapolis, IN
Posts: 14,588
I found this article about the cost of working vs being a SAHM The Cost of Working
& this calculator The Cost of Working - Calculator to figure out what it would cost to work and have Oliver in daycare. It's so not worth it for me to work FT!

This is my break down per year:

Daycare Expenses - 12,000 per year (this is if he is in a center in our area)
Transportations Expenses - 2,000 per year (at the current gas prices)
Lunch Expenses - 400 per year (eating out 1 time per week & bringing my lunch the rest of the week)
Work Clothes - 300 per year (I have to dress business casual)
Dining Out - 1560 per year (On those days after work when I pick something up because I'm too lazy to want to cook)
Miscellaneous - 1100 (Diapers, Wipes, Baby Food, Money given for work parties, bosses day, Christmas potluck, work cards, etc.) I can't cloth diaper if he is in daycare around here. I also will have to get him fully vaxed most likely.

Total: 17,360 per year

My NET income: 26,000 (I gross 33,280 currently)

Total income after expenses: $8640!

It doesn't seem like working FT is the way to go. I can make $8640 working PT and not have to do daycare. I can't believe how pricy it is to work and have him in daycare. Yes, I could save by not eating out for lunch and finding a home day care provider but it's still not worth it.
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  #2  
July 30th, 2009, 06:34 AM
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thats crazy....12 000 for daycare is just insane to me!!
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  #3  
July 30th, 2009, 07:07 AM
♥Ashley♥'s Avatar Platinum Supermommy
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Location: St. Louis, MO
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Wow that is crazy!!! I bookmarked this to show Jason someday!
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  #4  
July 30th, 2009, 07:16 AM
~*Bethy*~'s Avatar Ian, Morgan and Isabella!
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Location: NW Oregon
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Very interesting, Resi! This is the reason why Im a SAHM, we figured all the money I make would go to daycare expenses, gas money, school supplys (we will homeschool because I want them in the waldorf schools, but dont want to shovel out $6000 a year for preschool)

With what I make at the barn, my "job", if I wasnt paying my horses board, I would be bringing home around $400 each month - its been helping tremendously! gives us that extra little nudge. Even when her board is taken out (she isnt weaned yet, so I dont pay for her fully untill september) Im still bringing home around $150 a month. This still helps out IMO to soften DH's paycheck!

Ok done writing my novel!

~Beth
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  #5  
July 30th, 2009, 10:03 AM
Bre+Will=Reid
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Before my raise and when Reid was in Kindercare, it was not worth it for me to work at all. However, when they doubled my income and he started going to a home daycare, it is definitely worth it for me to work at this point.

Daycare is extremely expensive, even if you are using an in-home daycare. What else do you spend that much money on per month? Your house/rent....thats it! Yikes.
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  #6  
July 30th, 2009, 10:16 AM
ShannonMVT's Avatar Platinum Supermommy
Join Date: Sep 2006
Posts: 10,874
I need to use that calculator. I'm sure we'd be grossing at least some extra if I were working even after daycare, transportation, etc, but it's not really worth it to me.

Resi, are you looking for a PT job now? Could you go back to that other one you had?

Bre, when did Reid start going to an inhome daycare? I don't remember you posting about it. What made you decide to switch? How did you find the one you are using? Do you like it better than Kindercare?
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  #7  
July 30th, 2009, 10:29 AM
Resi's Avatar Platinum Supermommy
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Quote:
Originally Posted by ShannonMVT View Post
I need to use that calculator. I'm sure we'd be grossing at least some extra if I were working even after daycare, transportation, etc, but it's not really worth it to me.

Resi, are you looking for a PT job now? Could you go back to that other one you had?

Bre, when did Reid start going to an inhome daycare? I don't remember you posting about it. What made you decide to switch? How did you find the one you are using? Do you like it better than Kindercare?
I'm looking for something PT currently. I can't go back to the WAH job because it's not an open position. Plus, I quit before my training had ended.
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  #8  
July 30th, 2009, 11:49 AM
SandKmommy's Avatar Seamus and Kieran's Mommy
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Location: North Idaho
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Thats why I dont work, all my money would be in the trash if I was, its a catch 22 for us. Since neither of us have college degrees theres not much of an option (dh makes almost $13 an hour so hes paid well when he gets full hours) for places to work especially in this economy, and 2 kids in day care eek I dont even want to know the costs.
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  #9  
July 30th, 2009, 12:47 PM
Mars's Avatar Platinum Supermommy
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That just seem crazy!!
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  #10  
July 30th, 2009, 02:26 PM
ShannonMVT's Avatar Platinum Supermommy
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I called the local Kindercare here to see how much it costs just out curiosity and it's very close to $12,000 a year. Yikes. I have no idea how much part time care would be but it seems like it ends up being super expensive as well.

Also keep in mind (and I don't think the calculator showed this) that when you add income of the 2nd person, it can bump you into a higher tax bracket and then you end up paying more in taxes.
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  #11  
July 30th, 2009, 03:33 PM
amazing_love's Avatar Platinum Supermommy
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That is insane! I plan to be a SAHM for other reasons but i've heard friends say they plan to work until the have X amount of kids because then it won't be worth it anymore. I could probably find a child care center to work at and get my child in for free or an excellent deal but that's definitely not what i want! Plus i don't want to work at a daycare for the rest of my life
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  #12  
July 30th, 2009, 04:22 PM
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I knew child care is expensive, but geez! I can't imagine if you had more than one child!
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  #13  
July 30th, 2009, 09:35 PM
n/a
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looks like it may be quitting time soon! I hope you can find a PT job. Even if it means it will take slightly longer for you to pay off your debt, it sounds like it will be worth it!
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  #14  
July 30th, 2009, 10:20 PM
Adriana's Mommy's Avatar I <3 my kids
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Location: Inland Northwest
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I work full time and I don't even spend that much.. hehe

I'm vary blessed that Adriana will go to my mom's child care center (aka Preschool) for free when she turns 2 years old, so that leaves one child in daycare, which I pay about $4,000 a year. The daycare at my work charges by the day and I work 10 hour shifts and Adriana is only there for 3 days out of the week.

I wear scrubs to work, which is provided by my work.. So I don't buy any work clothes

I bring my own lunch and sometimes I eat at the cafeteria, I spend an average of $20 or less a month

As for baby stuff, Costco is my friend.. I can get diapers there for cheap, which is around $35 for 200+ diapers.. If I need formula, I'll purchase Similac Organic Formula at a good price at Target..

So, working full time is vary beneficial to me.. Plus since my DH and I have 2 incomes coming in, we were able to get a new house built. Having a new house makes it perfect for me and knowing that when I come home, it's my house and it's only been mine.. So it's all worth it in the long run.. For me at least.. And my children get to spend their day with Grandma learning stuff, which my mom is an expert with Child development stuff.. It can't get any better then that.. I'm truly lucky..
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Last edited by Adriana's Mommy; July 30th, 2009 at 10:47 PM.
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  #15  
July 31st, 2009, 01:47 AM
ETanny's Avatar Mamma 2 Moo & Pops
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This is one of the reasons why I dont work anymore.
Its just so expensive and it ends up being not worth it.
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  #16  
July 31st, 2009, 05:06 AM
bittersweet's Avatar Mega Super Mommy
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Wow, that is insane!! I cant believe how much day care is. But it gets cheaper as they get older, right?
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  #17  
July 31st, 2009, 07:13 AM
IamMom's Avatar Mega Super Mommy
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I'm outnumbered again...but I work for more than money....I worked hard for my degrees and certifications and I enjoy what I do. I also LOVE my co-workers and have fun at work and those are non monetary benefits of working for me. I pay about $7,000 for daycare for Harrison and will be about the same for Nora so that's much less than you all are stating...guess it depends on where you live (and my kids go to one of the most expensive centers). A plus for me is that daycare provides alal food, drinks, including formula and baby food for my kids so that is actually a savings - so I'd subtract that. I would also not count money I'd spend either way - like for lunch, dinners out and clothes....since most of that money for me would be the same either way. So it's very worth it for us for me to work.....even with my flexible schedule where I get to take off pretty much whenever I want or need to I make pretty good money. My job right now allows me both the time and money I feel I need to provide my kids with the best I can offer them. I just cannot picture myself ever being a stay at home mom. However I can see working only until about 3 once my kids are in regular school so I can pick them up and be with them in the late afternoon. That's our plan! By then there will be no day care cost either since we hope to get our kids into the local charter day school!!!

Quote:
Originally Posted by bittersweet View Post
Wow, that is insane!! I cant believe how much day care is. But it gets cheaper as they get older, right?

At our daycare the cost does go down as the kids get older...Nora will be 150 a week and Harrison is 135 a week.
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  #18  
July 31st, 2009, 12:34 PM
ImperfectMommy's Avatar Mega Super Mommy
Join Date: Aug 2008
Posts: 3,158
This is why I won't be working once the baby is born... I'd be making about $350 per month. So not worth it!

It all depends on your job. If you make good money or have family nearby to watch your child or have cheaper childcare in your area, then yeah, working totally makes sense. But for others it just doesn't make sense at all...
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