Daycare vs. IT career

Claymoore

Comparisons to college tuition also vary from state to state, but almost everywhere the ratio is startling. In 40 states the average annual cost for an infant in center-based care was higher than a year’s tuition and fees at a four-year public college. In Massachusetts, the yearly infant care cost exceeded the yearly cost of tuition and fees by $9,533; in New York, Wyoming and Washington, D.C., the infant-care costs were more than double the college costs.

Parents and The High Cost of Child Care: 2010 Update | NACCRRA - The National Association of Child Care Resource & Referral Agencies

My wife lost her job 2 years ago and, since we live in an area with higher than average unemployment, was unable to find a job in a year. We then decided that it made logistical sense (not necessarily financial sense) to start a family. We wanted to start one soon - I'm not getting any younger - and it would be hard for her to try and and start a career only to have to go on maternity leave. It also gave her the opportunity to focus on a healthy pregnancy and our first son was born 3 months ago. We plan for her to stay home at least his first year and then evaluate child care costs, job prospects, and the thought of having another child. I am against paying for my wife's MBA student loans while she pursues a career as a housewife, but it doesn't make sense to take a job only to have the entire salary eaten by day care costs.

tpatt100

I think now a days and its going to get worse its kind of scary to just have one income. My wife has great benefits but average pay, I had great pay but barely average benefits. We were paying 10K a year in day care and my wife made 40K a year but her 401K match was 2 dollars for every dollar she contributes up to 7 percent plus a small pension that was free. Her health benefits covered over 100K in medical bills and a bunch of other stuff.

On the other hand if you or your spouse are working somewhere barely making anything, I know some do it just for the benefits and social interaction.