Tag Archives: daycare cost

Rising Costs Of Childcare — Official News

WITH MORE PARENTS WORKING FULL TIME, Child care IS A NECESSITY FOR MANY.

BUT AS KARINA MITCHELL REPORTS, THE RISING COSTS OF CARING FOR KIDS IS PRICING SOME FAMILIES OUT. WHEN 3-MONTH-OLD CONNER WAS BORN, FIRST-TIME WARRANTS NICOLE AND JUSTIN WEREN’T READY FOR THE HIGH COST OF CHILD CARE.

IT WOULD BE THE MOST EXPENSIVE ITEM IN OUR BUDGET RIGHT NOW.

SINCE THEY CAN’T AFFORD DARK DAYCARE, THE COUPLE WORKS OPPOSITE SCHEDULES SO THEY CAN WATCH THEIR SON AT HOME. WE NEVER GET TO SEE EACH OTHER WITH HER WORKING NIGHTS AND ME WORKING DAYS. OWING TO THE BUREAU OF LABOR STATS, THE COST OF NURSERY CARE AND CHILD CARE HAS RISEN 168% SINCE 1990. ANOTHER STUDY FINDS Child care CAN COST MORE THAN HIGHING. IT’S PRICEYIER AT A COLLEGE.

MORE MILLENNIALS WORKING AND RAISING CHILDREN HAVE HELPED DRIVE UP THE DEMAND AND COST ASSOCIATED WITH Child care. A CBS FINANCIAL ANALYST SAID OPENING A FLEX Expend ACCOUNT AT YOUR JOB CAN CUT DOWN ON THE COST AND THE IRS PROVIDES CREDITS FOR THIS. YOU CAN PROBABLY SAVE SEVERAL HUNDRED DOLLARS A Time BY USING ONE OF THESE PRETAXED PLANS. SO IF YOU COMBINE THAT WITH THE IDEA THAT YOU WILL BE USING THE TAX CODE TO HELP YOU OUT, WE COULD GET INTO THE THOUSANDS OF DOLLARS A YEAR.

SOMETHING CONNER’S PARENTS SAY THEY WILL LOOK INTO IT. ANYTHING WOULD HELP.

ACCORDING TO THE SURVEY, Child care COSTS CAN ACCOUNT FOR AT LEAST 30% OF A FAMILY’S BUDGET IN MUCH OF THE COUNTRY.

MEANWHILE, THE FEDERAL GOVERNMENT SAYS THAT CHILD CARE SHOULD NOT EXCEED 10% OF A FAMILY’S BUDGET TO BE CONSIDERED AFFORDABLE…

Reporter: KARINA MITCHELL FOR CBS NEWS.

As found on Youtube