INFANTS IN DAYCARE?

iVillage Member
Registered: 06-08-2008
INFANTS IN DAYCARE?
2022
Wed, 11-26-2008 - 12:20am

OK, remember this is a debate board, and I am going to play devil's advocate here, so please let's play nice.

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iVillage Member
Registered: 02-08-2008
Wed, 12-17-2008 - 11:12pm
Were we talking about saving a million dollars? Am I missing something? Maybe we should stick to THIS THREAD and THIS BOARD--:)
iVillage Member
Registered: 12-07-2003
Wed, 12-17-2008 - 11:12pm

$82 is the cost of insurance at the university (where many people here are employed) for employees with an employee spouse and their family per month making $20K each per month.

$233/mo. is the required 7% savings at the university.

$20/mo. is how much the life insurance and long term disability insurance costs for people under 30 making $20K each per month for enough life insurance to cover the cost of the mortgage and salary of one spouse for 5 years.

$300/mo. is a random number I picked out for college savings.

$100/mo. is a number I chose based on how much a person would need to drive (work, groceries, doctor's appointments) for two cars living in a neighborhood with a house that costs $100K.

$163/mo. miscellaneous expenses was the leftover.

I chose the university as an example because I knew where to find the information and it's a big employer around here, but I could have easily chosen other examples if the data was public. I probably could have made my hypothetical family have one teacher and one city employee (fireman, police officer, etc.) Or I could have made it a family with one spouse making $40K and the other spouse SAH.

baby in clothes basket
iVillage Member
Registered: 12-07-2003
Wed, 12-17-2008 - 11:15pm

My hypothetical family didn't have student loans or medical bills. If they had, those would have been included in the budget. Perhaps my hypothetical family, if they had student loans, would have decided to wait to start saving for the kids' college until after the loans were repaid.

You don't think data about things like average home prices and average utility usage exists?

baby in clothes basket
iVillage Member
Registered: 10-05-2007
Wed, 12-17-2008 - 11:15pm

I don't know, are you missing something?


I'm saying that *hypothetically* it's possible.

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Ducky

iVillage Member
Registered: 02-08-2008
Wed, 12-17-2008 - 11:16pm

I chose the university as an example because I knew where to find the information and it's a big employer around here, but I could have easily chosen other examples if the data was public. I probably could have made my hypothetical family have one teacher and one city employee (fireman, police officer, etc.)


But not everyone in your area works for the university, correct? And not everyone at the university lives the same lifestyle, correct?


Or I could have made it a family with one spouse making $40K and the other spouse SAH.


Somewhat like YOUR lifestyle, correct?


iVillage Member
Registered: 12-07-2003
Wed, 12-17-2008 - 11:16pm
I don't live on $40K and I don't have a $600/mo. mortgage payment. Mine is more. I don't pay $82/mo. in health insurance. Mine is less.
baby in clothes basket
iVillage Member
Registered: 12-07-2003
Wed, 12-17-2008 - 11:17pm

Yes, exactly. Thank you.

ETA: I *couldn't* live comfortably on $40K a year at the current moment.




Edited 12/17/2008 11:19 pm ET by geschichtsgal
iVillage Member
Registered: 10-05-2007
Wed, 12-17-2008 - 11:18pm
Oh stop it!

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Ducky

iVillage Member
Registered: 02-08-2008
Wed, 12-17-2008 - 11:20pm

I know there is data out there for "average" home prices and utilities but you can not say hypothetically that a family making $40,000 would have these "average" bills.


I can find the average price of a home in my area. That does not mean that in that home, the utility bills will be exactly or anything alike from a home the same size and same price. Again, my neighbor was paying 5x my bill and my sister has paid 6x my bill with the same size home.

iVillage Member
Registered: 12-07-2003
Wed, 12-17-2008 - 11:21pm
Or Family A could spent $40/mo. more on gas than Family B. But Family B could spend $40 more on groceries instead. And in the end they spend the same amount per month.
baby in clothes basket

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