CNBC Millennial Money / Budget Article Series

[ellipses84]

CNBC is doing a budget article series about various people around the US. I think the most recent one about a family in Hawaii is so representative of a lot of the population, barely scraping by using credit cards to supplement unsteady work and not qualifying for much social services support. Others are at the other end of the spectrum with one person making $175k/yr.

www.cnbc.com/millennial-money/

[Accountingcat]

Welp, time to quit my job and become a full-time live-in nanny! That girl is hustling but making $175,000 and no rent!

[simpsongal]

The Hawaii one is spot on. I have family in Oahu, I keep hoping they’ll move to the mainland.

[bcv513]

I can’t believe the Hawaii guy owes $29,000 in back child support and his wages haven’t been garnished. Does keeping everything in the girlfriends name really make that much difference?

[cosmowife]

I’m apparently doing life wrong. I cannot fathom having enough disposable income to pay someone else $130,000 to work part time in my home.

[fryjack2]

I love these looks into people's lives. I find them fascinating.

I'm actually not surprised by the nanny's pay. Its the norm around here, especially for people with income levels ( or trust funds) that allow multiple nannies and pay for their travel and have full benefits.

I wonder how the pay and benefits and living situation will change once/if she gets married.

[janegold]

Feb 27, 2021 20:17:22 GMT -5 fryjack2 said:

I love these looks into people's lives. I find them fascinating.

I'm actually not surprised by the nanny's pay. Its the norm around here, especially for people with income levels ( or trust funds) that allow multiple nannies and pay for their travel and have full benefits.

I wonder how the pay and benefits and living situation will change once/if she gets married.

Really?! Yikes! I’ve been on the hunt, no wonder it’s been hard to find someone, lol! But even going through an agency, which I don’t think we are going to do, a FT live-out nanny at 45 hrs/week would “only” cost us $75k a year including benefits, taxes, etc. And I would expect to pay a bit less for a live-in in exchange for room and board.

But I am guessing that this woman works about full time hours overall, since she is probably on call during all waking hours every other week. And there are definitely people who will pay through the nose not to have to worry about anything. I have GFs who have FT nannies, night nurses every night wayyyyy past the newborn stage, chefs - and they SAH!

[fryjack2]

@@@@@@@

janegold A lot of the nannies on the agency pages are also on non agency sites so you may be better off asking around for a nanny rather than unnecessarily paying the agency fee. If you do consider a live in, maybe look in into an au pair. Guidelines have recently changed here, but an au pair be a great option if you can host one without compromising too much privacy My friend is on her 3rd au pair and has loved each one. It seems like it has been a good set up for both parties.

And yes, the salary for a full time (usually over 40 hours, since most need more than 40 hours) can be pretty high depending on experience and number of kids and responsibilities. I know many who pay around that amount, although where we are is a little cheaper than NYC.

Having a kid is for sure is expensive in general, and surprise twins even more so