Post by wanderlustmom on Jul 1, 2015 19:16:41 GMT -5
MCOL -food-- my kids are 10 and 8 and eat a lot. 100 a week? -supplies--$50 a week -college savings plan (if applicable)--$200 a month per child -clothing--low, mostly hand me downs and mil, $25 a month -toys--$25 a month -childcare, I work part time and mostly when kids are in school. $200 a month -activities: sports, classes, camp, etc-- now that they are older, 600 a month for travel soccer and year round swim and hotels for tournaments -medical--$50 a month
We're officially done saving/paying for our own education. As long as we are in NYC, home/car ownership is not something we wish to explore. We are on track for retirement. The next logical financial hurdle would involve children (down the road). I'd like to try to live as if we have them (saving the monthly costs), but I don't even know where to begin to estimate the costs.Â
If you don't mind sharing, I would very much appreciate the info. Ages and number of kids would be helpful. -food -supplies -college savings plan (if applicable) -clothing -toys -childcare -activities: sports, classes, camp, etc -medical -the 50 other things I'm forgetting Thank you in advance!Â
4 kids in M/HCOL ages 2, 6, 8 & 10
This is what was spent in June
Food-$2200(everyone) Supplies-combined with clothing category College Savings-We don't do Clothing-like $700ish- Toys-DD3 birthday plus vacation souvenirs we spent $490 Childcare-$0 but tuition is $1300/mo until next month when it goes up Activities-$900 Medical-$0 extra (DHs firm covers family plan)
Having a separate, dedicated bedroom for children is a MMM thing. Many, many people here have babies/toddlers without an extra bedroom. And some particularly committed types even find a way to make it work with somewhat older kids.Â
(DISCLOSURE: I am not one of these people and feel like I live in a palace until I read about people on these message boards who have 3,000+ sq. feet.)Â
 Oh, I know... but I do have a few friends who are really stressing because they've outgrown their 500-700 sq ft apartments because in addition to two adults they now have a crib and a stroller and a baby swing and a baby/toddler that also have to fit in the apartment -- and they're  about the price of (buying) decently-sized apartments in neighborhoods with good schools and decent commutes that will fit their kids when they're bigger.  Two of them don't know how to drive so suburbs aren't that easy for them...
They aren't looking for palaces, but they also don't want the kids to grow up in closets. Â So cost of housing that long-term is something to consider.
We had a 2 bedroom with a baby and because the 2 bedrooms were teeny, we were over run with baby stuff. I hated lugging the stroller up the stairs every day but we didn't have a foyer and my friend from Brooklyn had hers stolen from her foyer. So housing is pretty huge. And I don't know about NYC, but the more convenient places to live usually have the worst schools. Obviously that is some time away, but it also has the least kid programs, parks
thank you thank you thank you all for the information. This has been very helpful!
speaking of babies in cities, I would love to get together with the Chicago ladies sometime in August before I leave. rikkiawkwardpenguinkrysteeSJ -- we can do a park play date or a kids free brunch?? let me know if anyone's interested (and if I'm forgetting anyone!)
thank you thank you thank you all for the information. This has been very helpful!
speaking of babies in cities, I would love to get together with the Chicago ladies sometime in August before I leave. rikkiawkwardpenguinkrysteeSJ -- we can do a park play date or a kids free brunch?? let me know if anyone's interested (and if I'm forgetting anyone!)
Oh, I know... but I do have a few friends who are really stressing because they've outgrown their 500-700 sq ft apartments because in addition to two adults they now have a crib and a stroller and a baby swing and a baby/toddler that also have to fit in the apartment -- and they're about the price of (buying) decently-sized apartments in neighborhoods with good schools and decent commutes that will fit their kids when they're bigger. Two of them don't know how to drive so suburbs aren't that easy for them...
They aren't looking for palaces, but they also don't want the kids to grow up in closets. So cost of housing that long-term is something to consider.
We had a 2 bedroom with a baby and because the 2 bedrooms were teeny, we were over run with baby stuff. I hated lugging the stroller up the stairs every day but we didn't have a foyer and my friend from Brooklyn had hers stolen from her foyer. So housing is pretty huge. And I don't know about NYC, but the more convenient places to live usually have the worst schools. Obviously that is some time away, but it also has the least kid programs, parks
NYC is not like this. The best and most convenient neighborhoods tend to have the best schools as well. There are probably are small pockets where this is not true because the hood is so wealthy that the majority of kids go to private school but that is the exception not the rule. Playgrounds are plentiful through out the city but often the nicest ones are in the most affluent areas as well.
In NYC I tell people you pay for good schools by paying higher housing costs (rent/mortgage), private school, with time (long commute) or giving up space (living in 500 sqft with 2 kids)
thank you thank you thank you all for the information. This has been very helpful!
speaking of babies in cities, I would love to get together with the Chicago ladies sometime in August before I leave. rikkiawkwardpenguinkrysteeSJ -- we can do a park play date or a kids free brunch?? let me know if anyone's interested (and if I'm forgetting anyone!)
This sounds great. I can do either kids or kids free.
thank you thank you thank you all for the information. This has been very helpful!
speaking of babies in cities, I would love to get together with the Chicago ladies sometime in August before I leave. rikkiawkwardpenguinkrysteeSJ -- we can do a park play date or a kids free brunch?? let me know if anyone's interested (and if I'm forgetting anyone!)
I was just thinking about texting you this morning. Too funny. Yes, definitely want to see you before you go.
Childcare currently - 1500 for preschool. When baby 2 comes that will be 3500
swim 65 for 8 weeks. Soccer 120 for 8-10 weeks i think. I can't remember. 42/ month for music at school.
Those are the main things impacted by col i think. Clothes probably couple hundred a season
Eta: college only 100 per month now. Will go up after daycare
See this is where COL doesn't make any sense to me. I pay more than this for all of these things and I don't live in a HCOL :/
You pay more for daycare or just the other stuff?
Swim is heavily subsidized through the county. In fact, they just refunded us 50% for last sessions swim class because they wanted to be nice. That is once a week for 8 weeks (not sure how often yours are). Soccer I just paid again last night and it is actually $178 for a 10 week course. That is one 30 minute session a week. $42 a month for music, is once a week ..so 4 classes? It is a fun class like singing and dancing not instrument instruction.
Not sure if that clears things up or makes it better/worse ? lol.
ETA: $1580 is full time preschool/daycare. Infant care is 2000 a month, will likely be 2100 by the time this baby is born. It stays at $2000 until 16 months when it drops to 1900.
See this is where COL doesn't make any sense to me. I pay more than this for all of these things and I don't live in a HCOL :/
You pay more for daycare or just the other stuff?
Swim is heavily subsidized through the county. In fact, they just refunded us 50% for last sessions swim class because they wanted to be nice. That is once a week for 8 weeks (not sure how often yours are). Soccer I just paid again last night and it is actually $178 for a 10 week course. That is one 30 minute session a week. $42 a month for music, is once a week ..so 4 classes? It is a fun class like singing and dancing not instrument instruction.
Not sure if that clears things up or makes it better/worse ? lol.
ETA: $1580 is full time preschool/daycare. Infant care is 2000 a month, will likely be 2100 by the time this baby is born. It stays at $2000 until 16 months when it drops to 1900.
All of it, well daycare is probably pretty similar - I don't have a kid in f/t daycare anymore so I'm not 100% certain what it is. (I just checked a place that I know was less expensive than those in our neighborhood and it's $1485/month for kids over 3, infant is $2045) Soccer is $180 for a 10 week class (though our classes are 45 minutes long) Swim is $80-90/month for a once a week class Gymnastics is $90/month for once a week class Music is $125 for 6 weeks once a week Dance is $60/month once a week
Swim is heavily subsidized through the county. In fact, they just refunded us 50% for last sessions swim class because they wanted to be nice. That is once a week for 8 weeks (not sure how often yours are). Soccer I just paid again last night and it is actually $178 for a 10 week course. That is one 30 minute session a week. $42 a month for music, is once a week ..so 4 classes? It is a fun class like singing and dancing not instrument instruction.
Not sure if that clears things up or makes it better/worse ? lol.
ETA: $1580 is full time preschool/daycare. Infant care is 2000 a month, will likely be 2100 by the time this baby is born. It stays at $2000 until 16 months when it drops to 1900.
All of it, well daycare is probably pretty similar - I don't have a kid in f/t daycare anymore so I'm not 100% certain what it is. (I just checked a place that I know was less expensive than those in our neighborhood and it's $1485/month for kids over 3, infant is $2045) Soccer is $180 for a 10 week class (though our classes are 45 minutes long) Swim is $80-90/month for a once a week class Gymnastics is $90/month for once a week class Music is $125 for 6 weeks once a week Dance is $60/month once a week
Maybe you are higher COL than you think Music is VERY inexpensive since it is done at daycare, it is all year round too vs being done by weeks. Music done through the county is $200 for 6 weeks, 45 minutes classes. Dance is $120 for 4 weeks. Gymnastics is $100 for 6 weeks (all of that is once a week).
You live in CO right? I think you likely have similarly motivated parents when it comes to classes. I imagine bigger demand, more discretionary income is what drives up the cost? BUt yeah, it sounds like your costs are very similar! At least housing is cheaper? Right? lol.
All of it, well daycare is probably pretty similar - I don't have a kid in f/t daycare anymore so I'm not 100% certain what it is. (I just checked a place that I know was less expensive than those in our neighborhood and it's $1485/month for kids over 3, infant is $2045) Soccer is $180 for a 10 week class (though our classes are 45 minutes long) Swim is $80-90/month for a once a week class Gymnastics is $90/month for once a week class Music is $125 for 6 weeks once a week Dance is $60/month once a week
Maybe you are higher COL than you think Music is VERY inexpensive since it is done at daycare, it is all year round too vs being done by weeks. Music done through the county is $200 for 6 weeks, 45 minutes classes. Dance is $120 for 4 weeks. Gymnastics is $100 for 6 weeks (all of that is once a week).
You live in CO right? I think you likely have similarly motivated parents when it comes to classes. I imagine bigger demand, more discretionary income is what drives up the cost? BUt yeah, it sounds like your costs are very similar! At least housing is cheaper? Right? lol.
Housing is getting out of control...lol. My MIL had a 1920s bungalow across the street just sell for almost $600K. She bought hers for low $300Ks a few years ago. Rent is just as bad. Denver is boom & bust historically, do I imagine it'll bust sooner or later. Lol
Maybe you are higher COL than you think Music is VERY inexpensive since it is done at daycare, it is all year round too vs being done by weeks. Music done through the county is $200 for 6 weeks, 45 minutes classes. Dance is $120 for 4 weeks. Gymnastics is $100 for 6 weeks (all of that is once a week).
You live in CO right? I think you likely have similarly motivated parents when it comes to classes. I imagine bigger demand, more discretionary income is what drives up the cost? BUt yeah, it sounds like your costs are very similar! At least housing is cheaper? Right? lol.
Housing is getting out of control...lol. My MIL had a 1920s bungalow across the street just sell for almost $600K. She bought hers for low $300Ks a few years ago. Rent is just as bad. Denver is boom & bust historically, do I imagine it'll bust sooner or later. Lol
I think perhaps everyone in CO is delusional about it being Low or Mid COL
All of it, well daycare is probably pretty similar - I don't have a kid in f/t daycare anymore so I'm not 100% certain what it is. (I just checked a place that I know was less expensive than those in our neighborhood and it's $1485/month for kids over 3, infant is $2045) Soccer is $180 for a 10 week class (though our classes are 45 minutes long) Swim is $80-90/month for a once a week class Gymnastics is $90/month for once a week class Music is $125 for 6 weeks once a week Dance is $60/month once a week
Maybe you are higher COL than you think Music is VERY inexpensive since it is done at daycare, it is all year round too vs being done by weeks. Music done through the county is $200 for 6 weeks, 45 minutes classes. Dance is $120 for 4 weeks. Gymnastics is $100 for 6 weeks (all of that is once a week).
You live in CO right? I think you likely have similarly motivated parents when it comes to classes. I imagine bigger demand, more discretionary income is what drives up the cost? BUt yeah, it sounds like your costs are very similar! At least housing is cheaper? Right? lol.
I think that everyone considers CO MCOL, but it's definitely on the upswing. We have the hottest real estate market in the country and I think childcare is 2nd most expensive (behind NYC). Outside of the metro area I think that it's definitely MCOL, but in the city it is higher than that IMO.
Housing is getting out of control...lol. My MIL had a 1920s bungalow across the street just sell for almost $600K. She bought hers for low $300Ks a few years ago. Rent is just as bad. Denver is boom & bust historically, do I imagine it'll bust sooner or later. Lol
I think perhaps everyone in CO is delusional about it being Low or Mid COL
I'm not delusional, but every time I bring it up people tell me I'm wrong
We're officially done saving/paying for our own education. As long as we are in NYC, home/car ownership is not something we wish to explore. We are on track for retirement. The next logical financial hurdle would involve children (down the road). I'd like to try to live as if we have them (saving the monthly costs), but I don't even know where to begin to estimate the costs.
If you don't mind sharing, I would very much appreciate the info. Ages and number of kids would be helpful. One 19 month old. -food $100 a week, that is her portion. She's a big eater! -supplies - Diapers ($100 month , wipes $25 a month) -college savings plan (if applicable) No 529, but we put away about $300 month + all her gifts -clothing - TOO much, ha. I try to keep it to $250 a month. -toys - $20 a month -childcare FT nanny (40 hrs) - $2900 + $10 a day for her lunch + $120 monthly M etro card (Lunch and Metro Card are often mandatory in NYC nanny contracts) -activities: sports, classes, camp, etc - Baby gym - $200 a month, Music $160 a month. Now she is in a pre-2's program which runs about $800 month. -medical - Family insurance plan -the 50 other things I'm forgetting - Bigger Stroller (1k), Smaller Stroller ($200), Car Seat if you will have a car. Thank you in advance!
Ha ha ha ha ... Look at aaaaalllllll your money and dump it into a black hole ... call the black hole "child(tren) ..... Say good-bye to all of your money.
thank you thank you thank you all for the information. This has been very helpful!
speaking of babies in cities, I would love to get together with the Chicago ladies sometime in August before I leave. rikkiawkwardpenguinkrysteeSJ -- we can do a park play date or a kids free brunch?? let me know if anyone's interested (and if I'm forgetting anyone!)
I was just thinking about texting you this morning. Too funny. Yes, definitely want to see you before you go.
I was totally off GBCN for a while... and totally missed that you had made the move to Chicago!