Comments on: Money and the One Year Old Child http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/ Simple, applicable personal finance advice for the modern world Fri, 10 Feb 2012 03:55:09 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Schwamie http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/comment-page-1/#comment-323766 Schwamie Wed, 09 Jul 2008 22:06:40 +0000 http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/#comment-323766 Trent, Did you calculate in the end of year tax savings (credits) that you get for your child? Depending on income, you are able to file the cost of daycare as well as the addtional exemption for him as well as the child tax credit. I do not know how the state taxes work in Iowa, so I cannot comment on what you might get back on that end. If you take all these into consideration, you daily cost should go down considerably. Trent,

Did you calculate in the end of year tax savings (credits) that you get for your child? Depending on income, you are able to file the cost of daycare as well as the addtional exemption for him as well as the child tax credit. I do not know how the state taxes work in Iowa, so I cannot comment on what you might get back on that end. If you take all these into consideration, you daily cost should go down considerably.

]]> By: Laurie http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/comment-page-1/#comment-5722 Laurie Thu, 08 Feb 2007 22:27:47 +0000 http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/#comment-5722 Yes, my little one goes through a lot of <a href="http://sandboxcouture.com/index.html" rel="nofollow">baby clothes</a>. They outgrow them so fast. Thank goodness for grandparents, Sales and garage sales! Yes, my little one goes through a lot of baby clothes. They outgrow them so fast. Thank goodness for grandparents, Sales and garage sales!

]]> By: christina http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/comment-page-1/#comment-2870 christina Wed, 10 Jan 2007 01:59:19 +0000 http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/#comment-2870 It's amazing, isn't it? I think I've estimated my three year old's costs at just over $15,500 a year... your calculations didn't take into account the cost of housing your one year old! The USDA has a study with all the bells and whistles... I wrote about it on my site: <a href="http://solomother.com/how-much-does-it-cost-to-raise-a-child/" rel="nofollow"> How much does it cost to raise a child?</a> and the link to the USDA numbers is in there. Good luck! It’s amazing, isn’t it? I think I’ve estimated my three year old’s costs at just over $15,500 a year… your calculations didn’t take into account the cost of housing your one year old! The USDA has a study with all the bells and whistles… I wrote about it on my site: How much does it cost to raise a child? and the link to the USDA numbers is in there.

Good luck!

]]> By: Kat http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/comment-page-1/#comment-2665 Kat Sat, 06 Jan 2007 05:21:09 +0000 http://www.thesimpledollar.com/2007/01/05/money-and-the-one-year-old-child/#comment-2665 Wow, $24 a day for child care is CHEAP. When I was a nanny, I was making $9/hour. I was taking care of 2 kids, so even if you divide that in half, $4.50/hour for 8 hours a day is still $36. (Yes, I know you said you averaged it for all days.) Of course, since daycare can cost even more than that... Wow, $24 a day for child care is CHEAP. When I was a nanny, I was making $9/hour. I was taking care of 2 kids, so even if you divide that in half, $4.50/hour for 8 hours a day is still $36. (Yes, I know you said you averaged it for all days.) Of course, since daycare can cost even more than that…

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