So it says you need to make 400k for childcare to be doable. It presumably takes into account the cost of childcare, in addition to other factors.
That being said, I knew folks who quit working to avoid paying for childcare, but it was mainly because spending 30k on childcare when your takehome pay is 35k seemed pointless. I’m not sure I agree with that, though I understand the thought process.
Federal guidelines say that childcare is affordable if it consumes no more than 7% of household income. Citing data from Child Care Aware of America, LendingTree found that the average annual cost of care for an infant and a 4-year-old is $28,190 nationwide.
That would require household income of $402,708 a year to meet the 7% benchmark.
Childcare doesn’t cost $400k (at least not according to the article, or even the headline). The article says it costs $28k. Most people are going to make more than $28k/yr, so keeping the second job is still a financial positive.
Did you at any point between misreading this headline and deciding you’d solved a blindingly obvious problem, think to read the link?
This isn’t Twitter. Stop with your responses to 140 characters.
Oh and by the way, “just stay home” is pretty shitty as a solution even in itself because taking years off work is significantly damaging to one’s career and women are disproportionately expected and pressured to be the ones to do so.
If childcare costs $400,000 then would it be more financially viable to have one parents stay at home and provide care and quit their job/career?
Neither of the parents probably make that much, so if it saves $400k it would save money. If that figure is actually true.
So it says you need to make 400k for childcare to be doable. It presumably takes into account the cost of childcare, in addition to other factors.
That being said, I knew folks who quit working to avoid paying for childcare, but it was mainly because spending 30k on childcare when your takehome pay is 35k seemed pointless. I’m not sure I agree with that, though I understand the thought process.
Childcare doesn’t cost $400k (at least not according to the article, or even the headline). The article says it costs $28k. Most people are going to make more than $28k/yr, so keeping the second job is still a financial positive.
Did you at any point between misreading this headline and deciding you’d solved a blindingly obvious problem, think to read the link?
This isn’t Twitter. Stop with your responses to 140 characters.
Oh and by the way, “just stay home” is pretty shitty as a solution even in itself because taking years off work is significantly damaging to one’s career and women are disproportionately expected and pressured to be the ones to do so.