Big Decision

[MyAngels]

I didn't read everyone else's replies, but I did use an online calculator to figure this this:

$800/month at a compound interest rate of 3% over six years amounts to $63,181.07. Historically most 529 plans earn a better rate than that, but I figured I'd be conservative.

[Childminder]

SLAM!!! That would be the sound of my door closing on daycare. :: I'm tired and ready to say Adios!

[wahmof3]

SLAM!!! That would be the sound of my door closing on daycare. :: I'm tired and ready to say Adios!

::::::::::

ME TOO!!!!

[DBug]

SLAM!!! That would be the sound of my door closing on daycare. :: I'm tired and ready to say Adios!

Lol! ::::

Hang in there! Is there any way you can restructure to reduce the stress/tiredness?

[Soccermom]

Would you quit home daycare if you didn't technically NEED the money any more?

I'm in a position to do just that. I have a way to work from home with flexible hours to make the amount of money that we do need to cover bills, so that we could survive without daycare. I'd be able to stay home with my own SA kids and be here before and after school, on school closure days, etc, and still cover the bills and necessities. AND we'd have our house back .

My only hesitation is the luxury of having more than enough right now -- I hate to give that up. We are able to order out, do last-minute car maintainence, pay for school trips, have lots of of "mad money", etc., right now with daycare. My main concern is giving up that freedom. We'd still have wiggle room, but not nearly as much.

Would you ladies do it? I could close for the end of December. I'm thinking that the benefits of having our tiny house back to ourselves, being able to help at school, taking kids to appointments, etc., is worth losing the luxuries -- and I think I'm hoping you guys will say the same thing .

BUT, is it a wise decision? What would you guys do?

I would quit in a heartbeat lovethis !

[cheerfuldom]

I would quit too, tomorrow if I could. This is not an option though with four children under 5. If I can swing it when they are school age, I will absolutely close.

But is downsizing an option for you OP?

[laundrymom]

I wouldn't. I don't " have" to work. But the extra 1400-1500a week is nice. We put half our weekly income in savings. I want more than to get by. We live as cost effectively as we can. Dh puts Max into his 401 each check and we have my income direct to seperate savings accounts.

[PolkaTots]

I've been contemplating the same thing for awhile now. I have been providing child care for 5 years. While there are things I love about it, they are just as many things that I don't like. I know this is not what I want to do for the rest of my life. I have a crew of 6 now, and have decided to let the hardest 2 go this month. That way my days are a little easier and I still have the extra income. I will stay open until school lets out in June. This way I can spend the entire Summer with just my children. I haven't done that for years. With the extra savings of working until then, we are going to take a fun vacation. I am actually very excited about it! When school resumes in the Fall, I thought about going back to school or maybe even returning to the working world part time while the kiddos are in school. I guess we will just have to see

Good luck with your decision!

[EntropyControlSpecialist]

I guess it comes down to asking yourself what do you value? More quality time with your family (which means sacrifice) or more materialistic things (which there is nothing wrong with in moderation)?

[momofboys]

. [B] My thought was that I could be working hard now and putting money away for the kids' school (which is our primary concern) and miss the time with them while they're still here, or I could work my butt off when they're older and about to leave for school (in about 6 years). [/B]FTR,came up, it wouldn't bankrupt us .

But then, maybe I'm just trying to justify quitting?

What I highlighted above would be enough motivation to do exactly what you want to do! It is a tough choice but I am all for spending more time with family if you can.

[jojosmommy]

Because I am a Dave Ramsey nerd I would say that unless you have all your debts paid off, no car loans, no cc debts, no med bills, no misc school debts etc you should work to pay those things off. If you are spending money on fun things like you mentioned and want the time with the kiddos I would stop spending money on the extras for 3 months. See what it feels like to not have that money. Use the fun money you are currently earning to pay off some of the above mentioned debts or put it in savings if you don't have those debts. Then after three months of living like you will when you no longer have daycare income (ie less spending money, less luxury money) you can make a fair decision.

I personally would work to pay debts, then cut back on kiddos, maybe only take a 3-4 day a week kiddoor two so you have one or two days with your own but still have some income for yourself and those luxuries you mentioned.

[jokalima]

I would close, time with fam is more important to me. I get really stressed with the DC and so does my son, the only reason I have not done that is because of the income, but I beat myself about it constantly because I think I am doing the wrong thing for my son, but again he has to eat and needs a roof, I would close...

What job are you going to be doing?

[daycarediva]

I think i would just back off on the number of kids I was taking, be selective about who I wanted to keep and continue to bring in the "extra" income to be safe.

That is what I would do. I like PP's suggestion about teachers kids as well! If I could afford to, I would NOT be taking myself to capacity. I love these kidlet sooo much though, even if I won the lottery tomorrow I would see them all to Kindergarten before I quit.

[Childminder]

Hang in there! Is there any way you can restructure to reduce the stress/tiredness?

After watching children for 47 years and restructuring many times I would walk away without one regret. As they say...Been there done that. No particular stress but always tired. Old, very old person.

I did just terminate a little sociopathic turd though so my time left should be easier.happyface He will probably return some night and kill me in my sleep.

[MNMum]

after watching children for 47 years and restructuring many times i would walk away without one regret. As they say...been there done that. No particular stress but always tired. Old, very old person.

I did just terminate a little sociopathic turd though so my time left should be easier.happyface he will probably return some night and kill me in my sleep.

lmao! Little sociopathic turd!