Hellobee Boards

I'm not there yet either but I can't wait for the day when there are no more daycare payments! It's def like a second mortgage payment and we live in a high cost of living city! Bleh. We do plan to stick most of their daycare tuition into the kids 529 accounts tho. So we won't be seeing much of it for a long time. womp womp. It will make me happy to see it going into their higher education tho.

We aren't there yet, but I think we'll end up spending a portion of it on extra activities (music/dance lessons, summer camps) and then we'll be able to accelerate our savings--either retirement, college or otherwise! Woohoo!

Honestly for us we'll just be able to have some breathing room financially. Our saving accounts/401ks/stocks/etc are pretty much at a standstill as we get through the years of two in daycare. Looking forward to having money to put in savings, take vacations, not budget out for every little thing I want to buy myself, etc.

I should note though that it's more extreme for us because I'm finishing my degree and I'll graduate and be working again around the same time my oldest finishes daycare.

We aren't there yet but we are most likely going to use the money to help us get a bigger home.

So...for us (assuming we stop at #2) this will coincide with DH finishing paying off his student loans. Combined with DC that will be almost a $3K influx of extra money....holy cow I cannot wait!

I imagine we will add to our 529's at that point and DH will start maxing his 401K (currently I max and DH does the minimum to get his employers contribution). This is also around the time we will likely start taking some bigger trips with the kiddos - so we'll save more towards that!

@wonderstruck: same. We are living budgeted right now and that's only with one in daycare. I know two will only be worse.

When both kids are done with dc we will sell our house and buy one in a better school district. We actually hope to do that before the oldest goes to school with some help from my parents. Our savings and college funds are at a stand still as well so we will add to that.

We already said we will then make payments the same payment to a college savings and regular savings account instead.

We looked into the cost of afterschool care once the kids enter the public school system, and the difference between afterschool care and our full-day daycare costs is actually not that significant because our daycare rate is really good and afterschool care is expensive for what you get. I see the rest of the money easily going to activities, summer camps, clothes, school supplies, food, etc.