Just did an estimate of childcare fees for both kids starting childcare full time next year.
A week of childcare based on $64000 income for both working parent is $535.00 and out of pocket for each child is $463.71 a week (daily fee is $107. That means 2 children of $927.42 a week will be $3709 a month for both children. At $64000k a year of wage, weekly take home pay before tax is $1230.
So, all that earns will go to childcare. Really? I will only have $302 from work for working 5 days a week and that is even before tax and superannuation.
Can someone enlighten me if that is the case?