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The problem with "paying for a service" is that if you don't pay, they don't just cut your service off. You lose your house. That's different than stopping payment on electricity where you can run your own generator.
I'm glad your house payment is reasonable, but my point still stands. Right now, even if you sold it, you'd have to hope you got at least what you paid (and hopefully more), but if it's been within two years, you'd still have a hefty tax on that sale. So you're paying the bank off before any of it is any sort of profit/value.
I'm not trying to argue you are or are not rich. I don't really care, but you have to be realistic about what you do and do not own.
i'm in a reasonably good situation where I pay $350/week for 2 kids in an in home daycare...full time/5 days. our oldest is going to be going to preschool which i think is going to cost about $1100/month, but we'll be able to use a dependant care account for some of that, so pre-tax dollars. it's getting expensive! i've officially crossed the line where my kids are taking all of my fun money. lol
at least the following year she will be in kindergarten so all those property taxes i am paying by renting my home from the government can start paying off. so all told she did 3 school years of pre-school, Year 1 - 200/month year 2 - 360/month year 3 - 750/month. still a lot cheaper than my wife.
at least the following year she will be in kindergarten so all those property taxes i am paying by renting my home from the government can start paying off. so all told she did 3 school years of pre-school, Year 1 - 200/month year 2 - 360/month year 3 - 750/month. still a lot cheaper than my wife.
when all was said and done, we paid about $80K in childcare for 6 years, and that was 10+ years ago.
The problem with "paying for a service" is that if you don't pay, they don't just cut your service off. You lose your house. That's different than stopping payment on electricity where you can run your own generator.
I'm glad your house payment is reasonable, but my point still stands. Right now, even if you sold it, you'd have to hope you got at least what you paid (and hopefully more), but if it's been within two years, you'd still have a hefty tax on that sale. So you're paying the bank off before any of it is any sort of profit/value.
I'm not trying to argue you are or are not rich. I don't really care, but you have to be realistic about what you do and do not own.
well, if you buy a home and sold it within 2 years, you're not a very smart person. i realize things can change, but if you're in such a situation, you shouldn't have bought a home in the first place. your point is a political point, not a financial one. if you run up a huge bill with the electric company, you'll lose more than just cutting off your electricity. they can pretty much destroy your credit.
i don't look at a home as an investment. so i'm not looking to make a profit on it. at the end of nearly 6 years of living in hoboken, i had paid nearly $54,000 in rent. i owned nothing. and i left with $54,000 of my career earnings just "gone". now, after owning my home for about 4 years, i've got more than that $54,000 in equity alone. look at a home as a forced savings vehicle. not as an investment. a place to live where you will build up some equity, as long as you don't get yourself in way over your head.
if i were in a situation where if i sold it, i wouldn't get at least what i paid for it, then i wouldn't sell it. pretty much everyone in financial advice world can tell you that if you sell a home before 5 years, you're going to lose money. after the crash, some modified that to within 7 years. point is, don't buy unless you're fairly confident you're going to be in one place for at least 5-7 years.
i own a home that i can afford to pay for and live in. i'm quite realistic about what i do and do not own. i also own 1 car, and i very close to own my second car. the real kicker is, do your liabilities equal more than your assets? i'm not arguing that i am 'rich'. i just think people's concept of what is 'rich' is fairly insane.
at least the following year she will be in kindergarten so all those property taxes i am paying by renting my home from the government can start paying off. so all told she did 3 school years of pre-school, Year 1 - 200/month year 2 - 360/month year 3 - 750/month. still a lot cheaper than my wife.
so in year 3, you're full time? that's a solid $300/month cheaper than what my preschool will be for my #1 child. not bad. i also cannoy wait til my first is in kindergatern so i can get some utility out of the rent i've been paying the government as well! lol
so in year 3, you're full time? that's a solid $300/month cheaper than what my preschool will be for my #1 child. not bad. i also cannoy wait til my first is in kindergatern so i can get some utility out of the rent i've been paying the government as well! lol
its not full time, its m-f 8:30-12:30. my wife doesnt work so we dont need the full day covered.
when all was said and done, we paid about $80K in childcare for 6 years, and that was 10+ years ago.
sounds about right. i paid $250/week for my son from when he was 6 months old. then, when he was around 20 months old, his 4 month old sister joined him and it became $485/week. that stayed until we had a change about 10 months later and it became $350/week. all in, we've paid about $43,000 through the start of 2014. next step is figuring out what after school care might cost, or adjusting my schedule at work!
Full time daycare in my area was between $800-$1000 per child per month. It was painful enough to have 1 child in daycare. I now have twin boys so its almost prohibitively too expensive. Its the reason why my wife quit working temporarily to stay at home with the children.
The added expense of 2 extra children plus my wife stop working was a big adjustment even though I have what the fed's consider a high income (screw them). Fortunately, we live pretty modestly most of our lives and giving up luxuries wasn't too painful.
I would love to pay 800 to 1000 per child for day care. I pay over 1700 a month for a single infant.
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