Investing - Theory, News & General • How did your savings change after kids?

I live in a very high cost of living area in SoCal. You're saying it can be $2k per kid?

Yes, for very young kids. But keep in mind:
1. There are cheaper options out there like in home daycares. Even an Au Pair is cheaper for two kids if you have the space. Lots of people manage to make it work on a lot less than you make.

2. It’s only for a few years at most. Once they’re in preschool at 2 or 3 the cost is usually less, even with the extended day option or before/ after care. Once they’re in Kindergarten since you both WFH you might be able to get away with little or no daycare if you can structure your work hours so one parent can watch the kid(s) before school and the other after.

Our spending actually went down when we had our first kid. We spent more on some things but spent a lot less on going out, travel, entertainment. Our savings did take a hit because my spouse went 1/2 time and remote, but not as much as you might think because our taxes went down along with a bunch of work related commuting, lunch, wardrobe type expenses.

Statistics: Posted by vinhodoporto — Sun Mar 31, 2024 11:34 pm — Replies 15 — Views 955

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