Are You Able To Survive On Your Income Alone?

[Meeko]

Our daycare is our main source of income. But we are licensed for 16 kids. We are not rich by anyone's standards, but it pays the bills and then some.

[Annalee]

Our daycare is our main source of income. But we are licensed for 16 kids. We are not rich by anyone's standards, but it pays the bills and then some.

Same here!

[EntropyControlSpecialist]

Been living off of my income for, at least, the past 1.5 years. Some months are much, much better than others. It is difficult. I DO NOT enjoy operating at max capacity (total of 11 kids if by myself, 12 kids if working with someone). It overstimulates me. I much prefer operating with only around 7 kids here, excluding my kids (1 of which counts in the ratio). However, it takes about 7-8 kids to pay all the bills so there ya go. Not a lot of saving going on if I am doing that.
We are now going to have additional income coming in which will be really, really, really nice. When the weight does not rest entirely on my shoulders and is a little bit more split I feel like I have breathing room.

[Blackcat31]

Yes, my family can live comfortably off my income alone.

My DH is also self-employed.

However, I make a steady weekly income where as he is paid by the job so the income isn't as consistent as mine.

Although his paychecks are MUCH larger.

[Tdhmom]

No way could we live off my income...I'm lucky if I can pay for the full grocery bill every week. I also only have 2 kids and can have up to 4, I choose not to. I have just accepted a job for the parents as teachers program within our school district so I'm hoping to double my income. It's after hours so I can continue daycare (unfortunately :

My husband, like many others that have posted, is self employed. His paychecks aren't steady but they are much more than when he worked full time at a factory.

We also don't live nearly like we did (before 3 kids) when we were house poor and both working full time outside of the home and still living paycheck to paycheck. We've cut back a lot! We moved to a much smaller community (40 min from town) so we could afford a bigger house, much better school district though! I have driven a beat up van for 4 years, just so we only have one car payment...just sold the van and paid for a newer vehicle with cash (you can negotiate a lot easier with someone when you're offering cash for a vehicle). We don't go on vacation (maybe one year we'll be able to afford that expense); we never go out to eat and if we do it's a kids eat free night.

[Chellieleanne]

I only have one DCK so definitely couldn't live off my income if DH lost his job. I want to be able to be at that point where I could support us if something happened but that won't be for many years since I have two young kids of my own we a third on the way.

I could support us if I had 4 FT kids but we would just be getting by on the bare minimum and we would have to downsize from our current lifestyle. Wouldn't hurt to downsize anyway as I would like to start saving more for retirement:: we save more for our kids than we do for us!

My income is just sort of extra for me to buy stuff for the kids and to have a job history and work history for my credit score and all that for when we decide to buy a house.

[jenboo]

We are mostly living off my income for summer and it's working.
My husband only works part time in summer. At the beginning it was 4 hours a week then he got 4 more. He just picked up even more hours so that's nice. He will be full time again when school goes back.
This was a great test to see how far my income would go. We would have been fine but I'm down one child right now so that makes a huge difference. I would have been barely able to cover all bills, car gas and groceries (keeping it to a minimum) but there would not be a penny left over.... Nothing to save, only paying minimum payments on everything....
We don't have much debt to pay off besides the mortgage and AC ($800 of vet bills and $900 left on our car), but it's killing me that we were supposed to have it paid off this summer and now it won't be happening until Oct.

So yes, we can barely get by on my income (i can have to to 6, currently have 5 but 4 only come 4 days a week and my rate for them is way too low) but there would be no room for savings or fun. Our only luxury bills are internet and our phone. We do a lot of thrift store and garage sale shopping when we need things.

Oh it's just my husband and myself and two dogs (one is blind and definitely racks up the vet bills). We don't have any children.

Eta: I bring in a decent amount more of income than dh

[spud912]

:::::: My gross income last year was just over a grand, so no way!!

[mom2many]

Where I live in Ca it is way too costly to survive on my income alone.
We have my dh's substantial pension income to live on and his side work money helps with extras.
We both bring in about $5000/month and with that we are able to put money away and live comfortably.
I can only have 8 kids, so even if I was running at full capacity- the most I could make is $6000/mth. & that's not easy to live on here without making some serious changes!

[daycare]

I am also in CA, but I have a large dc. I run it with 4 employees that are all PT.

I am the only one that works we live off of only my income. I have a family of 5 and one kid in college.

my husband works only to pay off his school loan at this point. he works 2-3 times a month.

[spinnymarie]

The way I've set my daycare up means I'm not making very much money - I'm in it more for the stay home with my kids aspect.
Right now my sister is a 50% partner, we only work school years, and we don't do SA.
However, even if I had an assistant at minimum wage instead of my sister, operated at max capacity and did it year-round I don't think we could live off my income alone.
DH works for the local University and makes more than three times what I'm currently pulling in yearly, with a promotion and raise in the works.
In the event that he can no longer work (heaven forbid) I'd go back to teaching public school, no question.

[Learning Daycare]

Interesting

It is so interesting to see the difference in area, pay and capacity. I'm really hoping to be realistic and provide for my family. It seems like we have been struggling for the past two years and can't wait for things to let up!

[LysesKids]

See, I have had to survive on what I make (daycare or otherwise) over half of my life... partially due to divorce, then being widowed by #2 when we were in our 30's. I used the 700 SS we got each month on the kids and my income had to cover the rest. I have stayed in certain states for that reason... lower cost of living ; I own my home now, but still have lot rent, food utilities etc, etc to pay. I can only have 4 kids at a time too. My youngest daughter who is in college thanks me for being low income so she gets more federal $$ now that none of them gets survivor bennies anymore

This summer was bad... only 2 kids for 3 months now with a drop-in once a week. Come August 4, all 4 spaces are filled thank goodness. If I hadn't saved a few thousand back and had paid down credit cards, I would be sunk right now. I hope to pay the cards back down before Christmas. BTW, I also own my car outright and don't have cable except basic internet... even my phone plan is as low as I can get it and still swipe credit cards on it. And before anyone says go out and get an outside job that would pay more... part of why I still do childcare is I'm partially disabled and nobody would hire me if I am in pain half the time (much less able to stand or walk for long times due to my bum leg )

[Sereetta]

Yes. I budget well and my savings in growing. I joined an investment club in regards to retirement and I also participate in one sou source club a year. I'm licensed to have 12 under six and 4 school age. I have yet to reach that quota.

Honestly I trust that this is where God has called me to be and rely upon him to handle my lack and he has never failed me.

[jenboo]

I'll share.
I'm in Nevada. I can have up to 6 children.
Our mortgage is $848 a month.
We spend $200-250 a month of groceries for my husband and I.
Energy bill is around $300 during the summer and $100 in the winter.
Water is around $60-100.
.... There's an idea of living expenses...
When I'm full, I can cover all monthly bills and gas for the car and groceries. That's it.
My husband's income covers irregular expenses, savings and basically anything that isn't a bill (house repairs, shampoo, cleaning supplies....)
With both of our incomes combined we bring in around $4000 a month (but I'm not full right now and he isn't working full time until school is back in session).