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Old 02-23-2013, 09:32 AM   #1
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Is it more cost efficient to put my kids in daycare?

DH was laid off due to building renos and once he returns to work on Monday his hours are dropped from 40 to 30 a week & one part of his job has been eliminated, so his pay has also decreased by $2 an hour. His take home will probably be around $1600 a month.

We have rental income of $495 a month.

Currently I'm a SAHM, but I dabble in graphic design for side income. Since DH has been home I have been able to earn around $1000 a month from graphic design, but could certainly earn more if I was able to put more time into it.

DS1 attends preschool 3x a week for 2.5 hours at a cost of $12 a day. DS2 doesn't go to anything but playgroups with myself or DH.

I love graphic design, so I do want to be doing it at least part time...it helps me keep my sanity since both of my kids, esp. DS2, are high needs. Also, we owe back taxes of about $1000, we owe around $1200 for my computer [my last one died & I need one to work at all] & we're also behind on a few bills.

If I can make $1500 a month with graphic design, is it worth it to put my children in a childcare setting more often? I'm already wary of doing it, but also don't want to be working so much & pay for childcare and not be getting much more ahead.

Thoughts?

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Old 02-23-2013, 09:38 AM   #2
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Originally Posted by AniBee
DH was laid off due to building renos and once he returns to work on Monday his hours are dropped from 40 to 30 a week & one part of his job has been eliminated, so his pay has also decreased by $2 an hour. His take home will probably be around $1600 a month.

We have rental income of $495 a month.

Currently I'm a SAHM, but I dabble in graphic design for side income. Since DH has been home I have been able to earn around $1000 a month from graphic design, but could certainly earn more if I was able to put more time into it.

DS1 attends preschool 3x a week for 2.5 hours at a cost of $12 a day. DS2 doesn't go to anything but playgroups with myself or DH.

I love graphic design, so I do want to be doing it at least part time...it helps me keep my sanity since both of my kids, esp. DS2, are high needs. Also, we owe back taxes of about $1000, we owe around $1200 for my computer [my last one died & I need one to work at all] & we're also behind on a few bills.

If I can make $1500 a month with graphic design, is it worth it to put my children in a childcare setting more often? I'm already wary of doing it, but also don't want to be working so much & pay for childcare and not be getting much more ahead.

Thoughts?
If dh's hours are cut...have him care for the kids so you can get more work done
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Old 02-23-2013, 09:55 AM   #3
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Re: Is it more cost efficient to put my kids in daycare?

Is your job flexible as far as the hours you work? You work from home, correct?

If your job is flexible, work opposite hours of your husband, that way you have no childcare costs.
If you work from home, do you have family that can help out and watch the kids while you work?
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Old 02-23-2013, 10:01 AM   #4
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If you're planning on working from home, I'd start by working when your DH is home. Make sure you keep a set amount of time for work without interruptions. Daycare is expensive when you have more than one kid going. Also, I found that I didn't get much done when DS was in daycare part time. It felt like I had just dropped him off and I had to turn around and pick him back up.
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Old 02-23-2013, 10:08 AM   #5
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Re: Is it more cost efficient to put my kids in daycare?

I have a friend who does graphic design full time from home. She has one child in afternoon preschool but the baby is with her all day. I know she does a lot of her work when her dh is home or when the kdis are sleeping or playing independently. I think I would try to manage putting more time in without putting the kids in daycare and go from there.
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Old 02-23-2013, 11:15 AM   #6
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Re: Is it more cost efficient to put my kids in daycare?

Well, the that depends on how much the additional daycare will cost you; if you only expect to make an additional $500 in income, then you need to pay less than that in daycare, KWIM? If you're only going to net a small amount each month, then it'd be smarter to figure out alternative ways to do more work; this will save you in income and payroll taxes, if nothing else.
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Old 02-23-2013, 01:16 PM   #7
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Re: Is it more cost efficient to put my kids in daycare?

If hubby is only working 30 hours I would schedule around him. The 10 hours he used to work but isn't, a 10 hour stretch on one of his days off, and nap times and mornings/evenings totaling another 20 hours. Save one of his days off for family time/errands/housework. Divide the home chores ahead of time so no one resents what the other isn't doing. If you build up a reliable full time salary and at that point want to go to regular hours, and can afford to do so, daycare might be an option.
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Old 02-23-2013, 01:46 PM   #8
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Re: Is it more cost efficient to put my kids in daycare?

I too would aim for working nights and weekends for you. DH and I used to do that. We used nanny to cover any time where we over-lapped. I worked 3/4 time and he worked full time and we only paid for about 2 hours a day in childcare.
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Old 02-23-2013, 01:48 PM   #9
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Re: Is it more cost efficient to put my kids in daycare?

If anything, I'd try to put # 2 into childcare while # 1 is at school. Then you could see if the 3 days a week PT allows you to pull in more $.
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Old 02-25-2013, 11:18 AM   #10
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Re: Is it more cost efficient to put my kids in daycare?

Thanks for the input ladies! Sorry I'm just not replying, busy weekend.

The only thing that concerns me about working when DH is off is not getting to spend time with him. He works Monday - Friday 9-4pm, which technically if you subtract his 1 hour unpaid lunch break, is 6 hours a day. He gets home & I might get an hour in & then it's supper time. Then Bath time, then bedtime. If I then do a few hours of work from 8:30pm [my kids bedtime] I will have spent no time with DH and feel like all I did all day was work...I love my kids, but taking care of them can be a challenge since they are high needs....so it would pretty much be a full day of taking care of them & working with no "down" time.

Today DH and I discussed keeping DS1 in preschool but extending his day by 30 minutes [which costs an extra $2]. That way DH can pick him up during his lunch break and bring him home. Then we're thinking of asking my MIL to watch DS2 on those same days, for the same time period...so they'd each be out of the house for 3 hours 3x a week. That'd be 9 hours a week of work time. Then if I work one of DH's days off [Sat or Sun] & also try to work at least an hour or two each weekday before dinner [or after dinner], I'd get 30 hours in.
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