Author Topic: I've been presented with an interesting situation  (Read 4231 times)

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jeremy

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I've been presented with an interesting situation
« on: May 22, 2006, 10:16:32 PM »
Here is my situation in a nutshell:  As I have mentioned before, I am currently laid off....it happened in January, and since that time I have been staying at home with Logan while the wife works.  I have about 10 weeks of unemployment left and after thet time I will have zero income.

My sister-in-law brought up and idea to my wife and I, it mainly concerns me though.  She wanted to know if I would be willing to watch my neices during the week while she was at work.  Their current daycare lady is really starting to flake out on them and is constantly calling them and saying that she is sick and can't watch the girls on different days.  They would pay me ~$1500 per month tax free cash to do this. 

I am seriously considering it, and I know that watching them in addition to Logan will be a HUGE task everyday, but I would love to continue to be able to stay at home with Logan.  Between the $1500 and the $800/mth that Logan's daycare would cost me, I would be making a gross of $2300/mth tax free dollars AND still be able to stay home with my son. 

Financially it would be the same situation that I am in as of now...which when looking at the overall big picture is the same take home that I had working 40 hours and having Logan in daycare.

I just wonder if I would be biting off more then I can chew.


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Re: I've been presented with an interesting situation
« Reply #1 on: May 22, 2006, 10:43:16 PM »
It would be a HUGE  task to do, but I feel the benefits outway the stress and such.   I also know that you can do it!  It seems like a great deal and if I were in your place I would definitely do it.  I think you should, but that is just what I think.  :)

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Tylers Daddy

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Re: I've been presented with an interesting situation
« Reply #2 on: May 23, 2006, 12:01:02 AM »
Just don't let Uncle Sam catch wind of it. He has a weird way of finding out.

Offline davidAZ

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Re: I've been presented with an interesting situation
« Reply #3 on: May 23, 2006, 12:34:28 AM »
Since it's a family matter, it should be okay to keep Uncle Sam out of your business.  However, if the situation works out, be sure that your Sister-in-law doesn't claim the daycare expenses for her taxes because this will end up alerting Uncle Sam to your gains.

Sometimes family/business can cause problems.  The best way to hedge any problems is to have some written understandings.  $1500 a month is plenty reason to have things spelled out.

How many nieces would you be watching, 2?  Are you somewhat close enough with the neices to know their habits?

As far as the daycare lady flaking out, what is your feel for that?  Certainly sometimes they can be flakes, but perhaps she's sending some sort of signal to your sister-in-law that she just doesn't want her business.

The benefits to being able to spend a lot of your time with your son add up in a lot of ways, I'm sure with your time off you've already noticed that.

I'd say give it a shot.  You should be able to think of it as a trial basis for everyone.
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Captain Tuttle

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Re: I've been presented with an interesting situation
« Reply #4 on: May 23, 2006, 07:23:35 AM »
Good advice here.  I'd say go for it.  If you're not sure about it, just commit to it for 6 months or so.  That way, if you hate it there is a light at the end of the tunnel.   And, worst case scenario, you'll have 9 grand more in your pocket at the end of it.  Unless the kids were nightmares I think I'd definitely do it.

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Re: I've been presented with an interesting situation
« Reply #5 on: May 23, 2006, 10:08:02 AM »
I would also say go for it.  I would do it in a heartbeat



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TAZZFANN

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Re: I've been presented with an interesting situation
« Reply #6 on: May 23, 2006, 03:45:20 PM »
Uncle Tazz is watching


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Offline floridamcmarion1

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Re: I've been presented with an interesting situation
« Reply #7 on: May 23, 2006, 03:50:18 PM »
I would see if you can arrange it with your sister-in-law to do it for a week on a trial basis to make sure you are up for it.  Don't just try it for a day, but make sure it's a week.  She could tell the daycare lady she is taking them out for vacation for a week.  A lot of it depends on the ages of all three.  If they are all very little it would be a lot of work.  I've taken care of three toddlers and it went OK.  What will really help you is that the girls will go home at the end of the day.  Just make sure you have a clear agreement as to drop off and pick up times, as well as financial consequences if they are late picking up.  You don't want them getting into the habit of letting you keep them late since they can get away with it.

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TAZZFANN

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Re: I've been presented with an interesting situation
« Reply #8 on: May 23, 2006, 04:08:31 PM »
Quote
Just make sure you have a clear agreement as to drop off and pick up times, as well as financial consequences if they are late picking up.

I understand your point. However, that could turn into a huge issue (family issue)

Offline davidAZ

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Re: I've been presented with an interesting situation
« Reply #9 on: May 23, 2006, 04:50:32 PM »
Quote
Just make sure you have a clear agreement as to drop off and pick up times, as well as financial consequences if they are late picking up.

I understand your point. However, that could turn into a huge issue (family issue)

This could've been a reason why the current daycare lady has been flaking out.

Once you're accepting $1500 a month from a family member, there has to be an understanding of the business involved.
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TAZZFANN

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Re: I've been presented with an interesting situation
« Reply #10 on: May 23, 2006, 04:53:04 PM »
I totally agree. There has to be an understanding.


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Re: I've been presented with an interesting situation
« Reply #11 on: May 23, 2006, 08:11:47 PM »
We use a close friend for daycare and approach it as a business arrangment so there are no hard feelings. We signed an agreement for the price and the hours.  We don't take advantage of her and she does a nice job watching my daughter.  As long as they understand this is a business arrangement during the week and family after hours



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Offline floridamcmarion1

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Re: I've been presented with an interesting situation
« Reply #12 on: May 23, 2006, 11:16:14 PM »
If you are doing any kind of business with family it's really important to have written agreements ahead of time.  People tend to try and take advantage of family, so I think it's very important to have likely issues especially covered in the agreement along with consequences.  You can convince yourself that your family is different, but if your family is human they can be unpredictable.  I would suggest getting policies from various area daycares and using their policies, as well as financial penalties.

Marion

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TAZZFANN

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Re: I've been presented with an interesting situation
« Reply #13 on: May 24, 2006, 08:40:46 AM »
Good Luck with it all man

joseph1986

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Re: I've been presented with an interesting situation
« Reply #14 on: August 16, 2009, 08:36:34 AM »
gl sounds like you have your work cut out for you.  I know that if you can find a routine that they like, and a routine that mom likes, then it isn't a problem.  Get your ducks in a row first, I know that it is hard for you, so good luck.  I hope it worked out for you.

 



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