back then childcare was not part of the budget he showcased, hence my reaction. and he later clarified that childcare was not part of the expenses.
It is as insane as your revenue. Saying 10k expenses per month is not insane is the reality of just the top earners of this forum.
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Well, it depends how you look at it. If you deduct childcare from a 10k budget, that gives you a budget of 4k per month. Would you call that insane? The reality for single parent/dual income families is that childcare is not optional if you have no family support.
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6k monthly would be for three children at 100% external care?
I wish! 3 kids at 100% would be around 7.5k.
6k is for 2 kids at 100% (just over 5k). plus a bit extra for a third kid (part time).
At this point, wouldnât it be cheaper to hire a nanny that takes care of your kids at home?
A friend of mine has a nanny for 5k taking care of the kids 100%.
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They are out of the social circles then though.
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Maybe, but the saving is marginal and you have to consider:
- Nannies getting sick, whereas daycare have adequate cover/backup. Or if they decide to move on, then you have to scrable for an alternative
- Socialization and friends, learning to interact with other kids (and adults!)
- Learning the local language
Plus the costs decrease over time. Eldest is now out of TAGI (though costs of sports and other activities eat up those savings). Middle one is now reduced now that he started Kindergarten so weâre now down to 3.5k a month. Hopefully in 2 years it will be down to 2k once the youngest is in KG.
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This forum went down the rabbit hole of commenting on other peopleâs parenting decisions before and the role of women and it was agreed not to discuss non FIRE matters
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Ok, I suggest to just stop discussion of family arrangements.