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Tight finances/high cost of living?  

post #1 of 2
Thread Starter 
The title probably isn't clear, but, I'm wondering if anyone is in the same boat.

I am resigning from my job to go back to school f/t to do pre-med. I have to ace the classes, and take a full course load to make up for a poor undergrad GPA. I have DH's full support.

We bought our home last year. It's a co-op, so we have a pretty high maintenance fee (monthly). Our other big expense is childcare. We have an au pair, which for our area is VERY cost-effective (about $14,000 vs. probably $24,000 or more for day care or a babysitter, which is a lot less cost-effective).

We were extremely comfortable w/both our salaries, but things will be extremely tight w/only DH's (we're going to have to take out significant loans).

I guess I don't have a very specific question, but I'm wondering if anyone else is in the same situation.

Also - part of what will make this med school adventure feasible is that we live v. close to my parents who help in myriad ways. DH is taking a second job & will more or less be maxing out his earning potential at that point. Selling our home to downsize would probably mean a significant loss, and to have an au pair we need the extra bedroom for her anyways...
post #2 of 2
I'm not going back to school,myself,so not in the same situation,but is there a way that you can nanny share? Is that the correct terminology? To cut down the cost a bit? Is there a daycare program at your school for students?
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