We're paying $2,300/month for daycare for our 2yo. TWENTY-THREE HUNDRED DOLLARS. That's basically a house payment. With my wife's income and mine, after taxes and daycare we're barely breaking even. She's talking about staying home but then we lose her health insurance. How are people affording this in the Boston area? Are we just doing it wrong?
That's obscene. Have you looked into any subsidy programs for Mass? I know there's TAFDC but not sure if you'd qualify at your income level
Have you looked at co-op daycare? I know it's not available everywhere but some Boston suburbs have sliding scale options that are more reasonable. Still pricey but under $2k. Requires parent volunteer hours but if you can swing it might help.
The barely breaking even thing hits hard. My wife actually took a year off because her entire salary was going to daycare after taxes. We thought it'd be temporary but we're now realizing one parent staying home might be cheaper than both working. Wild that this is the math in 2024.
This is why I'm side-hustling like crazy. Daycare is non-negotiable but it's stealing both our futures. Have you tried any tax credits through your state? MA has some programs but they're hard to find. Might squeeze out another $50-100/month but every bit helps.
Same boat, different harbor. We legitimately have a spreadsheet tracking whether it makes sense for my wife to work. Some months with sick days and random closures it literally costs money. The system is broken.
Yeah Boston area is brutal for this. We're at $2,100 for our 3yo and it's strangling us. Honestly considering one of us cutting hours but that impacts everything else
I feel this in my soul. We're at $2,200 in a LCOL area and it's honestly making us consider whether a second kid is realistic. Do you guys have FSA/dependent care accounts set up? That at least saves us like $500/year but it's a band-aid on a bullet wound.
2300 is insane. That's literally more than my mortgage. How is anyone supposed to afford this? And people wonder why birth rates are dropping
curious what your wife thinks about this math. At some point it might make sense for one of you to stay home? I know that's not practical for everyone but the numbers have to work
This is why we moved to NH. Still pricey but you get more bang for your buck. Do you have the option to relocate even slightly outside Boston?
Have you tried co-op daycare models? Know some parents in the area doing that and it cuts costs way down, though it requires coordination
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Boston area daycare is absolutely brutal. $2,300 is not even high for that region honestly - some places are pushing $3k+. Have you looked into nanny shares? I know someone who split a nanny with another family and cut costs by 40%. Still expensive but slightly less soul-crushing.