Parents face high costs for preschool and swim lessons
16 posts across 6 communities in the last 90 days; 63% from r/fatFIRE.
“Depends where OP is from. Thats an american problem. Daycare is like $300 a month in canada”
“I've very lucky to American though, FatFIRE wouldn't even be close to a reality in most other countries, and while the options are worse, there are healthcare plans I can pay for once we're fully retired. I'm also lucky to be able to work for companies that offer amazing…”
“See if there's a group or club you could join around an activity you enjoy. This is specific to having kids, but we joined Scouts. The annual cost is manageable, and the pack does a camping trip every quarter, a hike every month, and various activities throughout the year. We…”
Several posts discuss the significant financial burden of raising children, specifically mentioning expenses like preschool, swim lessons, gymnastics, hockey tournaments, and world cup tickets. Some commenters express surprise at the level of spending by other parents, while others share their own strategies for managing these costs.
SOURCES (32)
“I've very lucky to American though, FatFIRE wouldn't even be close to a reality in most other countries, and while the options are worse, there are healthcare plans I can pay for once we're fully retired. I'm also lucky to be able to work for…”
“See if there's a group or club you could join around an activity you enjoy. This is specific to having kids, but we joined Scouts. The annual cost is manageable, and the pack does a camping trip every quarter, a hike every month, and various activities throughout the year. We were just at an archery and bb gun event. Fundraising covers a lot of the costs and any activity fees are nominal. My kids are making friends and there are adults to talk to.”
“You talking like this, actually got me thinking. I know someone who charges $30 a day per child for child care. And I read your comment and think they should be charging a lot more I've never really thought about what she charges until reading some of the comments in here and now I think it's low and she should be charging quite a bit more lol. I know the quality of care she gives and When comparing her rates or whatever to what I'm reading in here I'm just going "damn you a”
“Thoughts on needing enough money to buy your kids homes to live in in your neighborhood? I live in an ultra high cost neighborhood in CA. Made enough to retire on my own, but what if each of my children will never be able to afford a nice house for their family? I want to ensure that each of them will have a great life. I’m wondering if each of them will need a $5 million home. It is not something I discussed with my children who are still a school age, but it’s something I think about. Will the”
“yeah makes sense to large of an expense to offer cash back on and still be profitable”
“that's not true. look at Little School which is one of the more expensive options. They are right about $40K. https://www.littleschool.org/tuition Tinker Noe Valley is ~$37. https://www.tinkerpreschool.org/admissions/#tuition”
“Agreed. If they are in a VHCOL area with 4 kids in private school then $500k would feel pretty middle class in terms of the rest of their spending.”
Haha… yeah… coming to the conclusion that it’s just not worth the hassle.
“Honest question do you know of any way to differentiate between say 45 with a toddler starting daycare vs 45 with kids grown up and college all done and paid? I know both and wildly different.”
“Just got our price increase for the year and ooof. Seriously how is anyone managing with two kids in daycare? We ran the numbers before the increase and even after changing retirement contributions to the bare minimum, canceling all subscriptions, two kids would cost my entire take home pay. However I carry the good insurance and my field would be hard to return to if I ever left. We live in a MCOL city that often feels much more HCOL. submitted by /u/Relevant-Flow7476 [link] [”
Very true here in California! High wages and competing with the schools
“Depends where OP is from. Thats an american problem. Daycare is like $300 a month in canada”
“Just make sure your kids don’t play travel hockey or competitive dance or competitive volleyball, otherwise you might need to double the kids expense category. 😆. Mine happened to choose ice hockey goalie and I am still learning on how crazy expensive this sport is. Heard the same from parents whose kids join volleyball, competitive dance and gymnastic. We used to travel off season before my kid hit elementary school, now we have to pay premium on peak season for everything. Also when they turn”
“The blocker isn't budget, it's that nurseries in Japan, Singapore and Taiwan allocate places annually and won't take a kid for one to four months, so I'd do fewer bases held six months each instead.”
“The Netherlands, one of the mayor cities. And yes, one could replicate (parts of) this, but for us there’s no need to. F.e. the public schools, but a nanny as well: if we would have variable working hours (especially outside office hours) we would definitely have one. And yes, this is fat fire. However, that’s not a rationale to just spend whatever you want. You still have to save and invest money on order to stop working (eventually). So the question is: what value does an extra dollar spend br”
“We rent way more villas, instead of hotel rooms. Does nothing good to the travel budget. Also couple kids in private school and funding a couple 529s heavily in their younger years.”
“That’s why we only have 1 kid! 3 in a VHCOL sounds like disaster for our finances and wouldn’t be able to fatfire”
“We will keep the home base in Switzerland and day care/school. It is more for when they are not in school yet, we also have Spain property at the beach with established neighbors and family around, so the idea is definitely keep some continuity while have the experience when they are still young. Getting nanny anywhere in the world (except for US) is cheaper and easier than in Switzerland 🤣”
“Our three kids went to a private high school at a very reasonable cost in MCOL area and it prepared them very well for college. All went to top universities and one followed up with law school. No financial aid or scholarships at one of more prestigious universities, academic scholarships for the other two for college and large scholarship for one at law school. Total cost was near $900k for their post high school education. The top schools often look well beyond the FAFSA so there was no chance”
“So far we found quite good babysitter and nanny in Spain and cleaning service etc. agents are quite helpful, too. But with other places, it’s still to be explored. But indeed, I see the window of opportunity in the next years when all kids are before official school.”
“Man the whole travel sports culture just sounds nuts. Do people still do YMCA leagues if their kid isn’t going to be a D1 athlete?”
“morons is harsh. your costs are lower and your kid does less as well. Also not everyone can have parents watch kids.”
“Yes, we also did Boundless Life and it was lovely. They have 3month cohorts for school terms and 1 month option for winter and summer breaks. Their 4 original European locations just got their accreditations, with their newer locations in the process. The program includes school, housing, weekly housekeeping, coworking space, family lounge access, and community events and concierge. Cost varies by location, but less than our housing/preschool in NYC. Personally, the education side may not be qui”
“Yes, I'm so glad someone else brought up mandatory vs discretionary. I'm about 7 years ahead of you with the kids, and for my school age kids the expenses have fallen dramatically. We are probably on the low end of "FAT" in this sub, but I prefer to raise the kids in a way that feels to them more solidly middle class so there are no fancy clothes or super fancy experiences. We are lucky to live near an excellent charter school so they go there. Activities do not have to cost $$”
“It gets old quick. You will want to settle down soon when kids have their friends. Even more so when kids have sports or long-term extracurricular activities. You might be able to pull it off until the oldest is 10 or so.”
“Bring a nanny along with you or find local nanny services you can trust, otherwise you’ll go insane traveling long haul flights and dealing with your own jet lag with 3 under 5.”
“LPT. Don't pay for seats. They will stick you in the back, with the kids, but they won't split you up.”
“Looks like the Private Equity option, which was a ridiculous option has been eliminated (for now). Hope Infantino gets removed. Other than the WC, I don't spend much on tickets. Texas teams (Cowboys, Texans, etc.) are very expensive.”