Posted on 03/04/2015 2:53:31 PM PST by grundle
Dalia Gokirmak, 31, and her husband Oscar, 41, always wanted a big family. But when they found out they were having twins when she was pregnant for the second time, reality sunk in immediately. “I’ll be honest, I pulled out the calculator right away,” Oscar says.
Though they would’ve preferred to stay in Hoboken, N.J., the couple knew they would not be able to afford $1,600 a month per child, the going childcare rate in the area, plus the cost of moving to a bigger home. So they packed up and moved to the neighboring town of Union City where daycare rates are around $600-$700 a month.
The Gokirmaks, whose children are now age 3 and 1, decided it makes the most sense for both of them to continue working – even if three-quarters of Dalia’s take-home pay, which amounts to 30% of their household income, goes straight to daycare
This week they moved again to Highland Park, N.J., where they’ll be paying $1,000 a month per child until they find a more affordable solution. Because it’s so easy to go over budget with three children, they limit their credit card usage and make most of their purchases on their debit card.
Says Oscar: “I never pictured that this was how we were going to end up spending our money. It’s more than the cost of our mortgage and property tax combined.”
(Excerpt) Read more at finance.yahoo.com ...
So.....even though 3/4 of her take home pay was going to daycare, it still made sense to have her work? Did they factor in the other costs associate with her working such as travel, second vehicle (if needed), gas, the cost of buying meals because you don't have time to make them, tax savings from being in a (possibly) lower tax bracket? Not to mention the things that you can't put a value on such as additional time with your kids.
It seems to me that there are a lot of people who are in financial difficulty because of their "need" to drive a new car, have a new cell phone, a new tv, a big house etc, and then they blame their financial difficulties on their kids...
At least these people are paying for their own kids. Good for them!
We had my wife’s retired mother as our “day care provider.” God bless her - it made it so easy on us, and Grandma loved it too.
Oscar should’ve pulled out something besides his calculator. Dumbass.
Stupid is as stupid does. Two incomes rarely are worthwhile with small children. Time spent with children pays off long after everything you ever did at work is long forgotten.
True. But realistically, she is just working to put her kids in day care instead of caring for them herself. She is not making enough to actually have much if any net spendable income after paying for daycare, transportation, clothing, food, and the additional medical expenses from all of the illnesses the kids will pick up at daycare.
The family would actually be money ahead if she stayed home with the kids - not to mention have much happier kids!
It has been my experience that some women do NOT want to stay home with their children. It is much easier to put them in daycare and go to work than to stay at home with toddlers. I know this!
Too many people.nowadays seem to want it and want it now. Concepts of saving, budgeting, planning, deferred gratification all seem to be lost on too many people.nowadays.
True! No disagreement here.
So presumably one child was in daycare and they were paying $1600 per month. They had twins and knew they couldn’t afford three times that, so they moved, and are paying $1800 - $2100 per month. That math does not add up. Stay home, mom! Save $1600 per month!
Why would you have children if you didn’t plan on raising them yourself?? status symbol? self esteem?
Perhaps the wife should get her license - stay at home with her 3 kids - take in 3 more kids - and call it even...$3,000 a month....$36,000 a yr with no travel - no worry about who is watching her kids - and the time delay in dropping off/picking up....seems to be more reasonable...or take in 4 kids and increase the yearly intake by $12,000...not bad...
Tom, This is something to consider as you’re growing your family!
Shalom!
- Megan
...and, if she would baby sit for one kid she’d have everything she has now and have her kids know who mamma is!
Indeed! People act like it’s unfair for women to stay home with the children they have. I have my degree in engineering and my professional engineering license in Florida. I worked pretty darn hard to get those. I stay home now with my 3 year old, took a huge pay cut to do so and will NEVER regret it.
Here in my trailer park we take turns looking after each others’ kids. Money rarely changes hands. Sometimes an old lawnmower or other bartered item or service does.
I’ve seen that myself.
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