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Managing money in a family with multiple children is no mean feat. Parents have to balance saving for the future with giving their children the best possible life right now. A caller to money management expert Dave Ramsey’s show caused some surprise when he revealed that he spends $80,000 a year just for daycare.
Commenters debated Dave’s advice and whether or not this was a reasonable amount to spend. We reached out to Dave Ramsey via email and will update the article when his team gets back to us.
More info: TikTok
A man called financial guru Dave Ramsey for advice when he found himself struggling to pay $80,000 for his kid’s daycare
Image credits: daveramsey
“The caller: I’m expecting my income to increase pretty dramatically in two years, but in the meantime, I’m having trouble paying costs, including two kids in daycare. My wife is doing a medical residency, so in two years, she’ll be done with that and get a job as a doctor.
Dave Ramsey: Yeah, that will increase things pretty dramatically. And how much debt will you guys have?”
Image credits: daveramsey
“The caller: We own a house, and aside from the house, we have about $25,000 in student loan debt.
Dave Ramsey: And is she borrowing to finish medical school?
The caller: No, she has no med school debt. So the student debt is mine.”
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Image credits: daveramsey
“Dave Ramsey: So what’s she making in residency?
The caller: About $70,000.
Dave Ramsey: And what are you making?”
Image credits: daveramsey
“The caller: About $110,000.
Dave Ramsey: Can you explain to me why you can’t get by on $180,000? And you have to borrow money because you can’t get by on $180,000?
Jade: No, something’s not right.”
Image credits: daveramsey
“The caller: The childcare costs are about $80,000.
Dave Ramsey: $180,000 and you’re going to explain that with child care costs?
Jade: Hold on, how much are you paying a month in child care?”
Image credits: daveramsey
“The caller: It’s about $80,000 a year.
Dave Ramsey: Why? You brought them in college?”
Image credits: daveramsey
“The caller: The base tuition for the child daycare we use is $25,000 per kid, then we pay extra for early care and aftercare, and it doesn’t go during the summer, so during the summer we need a nanny.
Dave Ramsey: I’m going to be as nice as I can. You guys have lost your minds.”
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Image credits: daveramsey
“Jade: There’s cheaper routes.
Dave Ramsey: Oh, you think? You got them in some kind of dadgum… I mean, are they going to Harvard? What the hell?”
Image credits: daveramsey
“The caller: it is a pretty fancy daycare.
Jade: you can downgrade.
Dave Ramsey: They’re not even in school and you’re already paying 25, 000 a head? Yeah. Come on, dude. That’s just dumber than c**p.”
Image credits: daveramsey
“Jade: Seriously. Downgrade. It’s time to take the kids off filet mignon.
Dave Ramsey: I don’t care how much money you make. There’s not enough money in the world that doesn’t make that stupid.”
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Justin Sandberg
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I am a writer at Bored Panda. Despite being born in the US, I ended up spending most of my life in Europe, from Latvia, Austria, and Georgia to finally settling in Lithuania. At Bored Panda, you’ll find me covering topics ranging from the cat meme of the day to red flags in the workplace and really anything else. In my free time, I enjoy hiking, beating other people at board games, cooking, good books, and bad films.
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Justin Sandberg
Writer, BoredPanda staff
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I am a writer at Bored Panda. Despite being born in the US, I ended up spending most of my life in Europe, from Latvia, Austria, and Georgia to finally settling in Lithuania. At Bored Panda, you’ll find me covering topics ranging from the cat meme of the day to red flags in the workplace and really anything else. In my free time, I enjoy hiking, beating other people at board games, cooking, good books, and bad films.
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Mindaugas Balčiauskas
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I'm a visual editor at Bored Panda. I kickstart my day with a mug of coffee bigger than my head, ready to tackle Photoshop. I navigate through the digital jungle with finesse, fueled by bamboo breaks and caffeine kicks. When the workday winds down, you might catch me devouring bamboo snacks while binging on the latest TV show, gaming or I could be out in nature, soaking up the tranquility and communing with my inner panda.
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Mindaugas Balčiauskas
Author, BoredPanda staff
Read more »
I'm a visual editor at Bored Panda. I kickstart my day with a mug of coffee bigger than my head, ready to tackle Photoshop. I navigate through the digital jungle with finesse, fueled by bamboo breaks and caffeine kicks. When the workday winds down, you might catch me devouring bamboo snacks while binging on the latest TV show, gaming or I could be out in nature, soaking up the tranquility and communing with my inner panda.
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