Three kids on a working-dad salary is wild

Dec 111 min read

We just found out baby #3 is on the way and I'm... not confident about the finances honestly. We managed okay with two but three daycare spots at the same time? Three college funds later? My salary is decent (around $110k) but my wife took a part-time position when kiddo #1 was born and never ramped back up. I'm carrying a lot of the financial weight and it's stressful. Not looking for pity, just wondering if anyone else is in this boat and how you're managing it. Therapy? side gig? accepting that college will be student loans?

11 comments316 views

Comments(11)

AAndy T.RegularDec 11

Dude the three daycare overlap is brutal. We're in that window rn with kids 2, 4, 6 and it's like $3,500/month just for childcare. Have you looked into whether your employer does dependent care FSA? Helped us save like $5k/year in taxes at least.

RRick H.RegularDec 11

This is the honest conversation nobody wants to have. Three kids on a single working-dad salary is genuinely hard in 2024. Not impossible but you're gonna feel it. Have you run actual numbers with a financial advisor?

EEd R.RegularDec 12

The college fund thing is stressing you out unnecessarily imo. Start tiny - like $50/month for #3 when things settle. By the time they're 10 you'll have way more breathing room. Don't let perfect be the enemy of good.

NNick G.RegularDec 12

Three kids, three daycare spots, that's like $1500-2500/month depending on where you are. That's a whole second mortgage conversation with your wife for sure

SSteve C.RegularDec 11

Daycare costs are actually tax deductible partially and some employers offer FSA for childcare - might be worth checking your benefits. Won't solve it but helps a little

MMatt D.RegularDec 13

Congrats on #3 though! The finances will work out - honestly people do this on way less than you probably make. You'll adjust. The real trick is stop thinking about college funds for like 2 years and just survive the daycare phase.

PPhil C.RegularDec 13

Congrats on baby #3 but yeah the math is terrifying. We just hit two and I'm already wondering if three is even financially possible. What's your wife's income situation looking like?

TTerrence M.RegularDec 12

Real question: is your wife going back to work? Because the daycare calculus changes a lot if you're both working vs one income household

PPete Y.RegularDec 12

Not gonna lie, this stress is legit. But people have done this before you and they survived. Might not be comfortable but it's doable. The anxiety about it is worse than the actual situation probably

JJosh E.RegularDec 13

lol same energy as me when we found out about #2. Three years later I'm somehow still alive and the money thing? We just... spend less on other stuff. No fancy vacations, limited eating out. It's different but doable.

ZZack M.RegularDec 11

You mention your salary is cutting off - but real talk, can your wife pick up any extra hours or side gig? We found that even my wife doing like 5 hrs/week of freelance covered almost one full daycare slot. Just a thought.