Pay for Childcare?

Kathy and her husband need to get their income back up in order to pay for the childcare expenses.

QUESTION: Kathy and her husband are paying $800 each month in childcare.  Kathy and her husband make about $55,000 a year, which is a pay cut from what they had been making.  What can they do to make ends meet if they have to keep paying for childcare?

ANSWER: You have taken a huge pay cut and that’s what is straining your budget.  Childcare is a major expense for you, but it’s the loss in wages that you’ve experienced over the past year that is the main problem. 

Women who make $20,000 or less working outside the home are not making enough to pay for a year’s worth of childcare and other work-related expenses, so they might as well stay home with the kids. 

The issue here is your decreased income and increased expenses.  You’ve just had a temporary setback and you need to get your income back up. 

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