I make $75k gross. After taxes ($15k), my wife's full-time daycare costs ($21k), and commuting/lunch out ($4k), my actual take-home is... basically nothing. So technically I work full-time to break even. Which sounds bonkers when I type it out. Wife thinks I should stay home but we'd lose my benefits. How are other people thinking about this math?
After all that you're only netting about $39k which is wild when you think about it. That daycare cost is brutal. Did you and your wife talk about whether one of you staying home might actually be cheaper at this point?
Real talk, this is why a lot of people step back from work when they have multiple kids. Once you factor in childcare for more than one kid the economics just don't make sense anymore.
The math on this is crazy. You're basically working to cover childcare costs and taxes. A lot of people don't realize how little they actually keep after expenses. Have you looked into any alternative childcare options or flexible work arrangements?
Your gross is fine but that net is depressing. My wife and I had similar math and she ended up going part-time instead of full-time. Cut the daycare costs significantly and honestly reduced everyone's stress.
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This is exactly why we moved to my parents' house temporarily. Sounds crazy but the daycare situation was eating us alive financially. Worth exploring unconventional options if you're stuck in this math.