Bankrate的动态

Does it seem like the cost of child care has been going up every year? You're not imagining it. Let me break down the numbers for you. When I looked at Bureau of Labor Statistics data, I found that daycare and preschool costs have risen 1.59 times faster than overall inflation since January 1991. My latest study for Bankrate is further proof that child care costs are eating into a significant portion of families’ budgets, no matter where they live in the U.S. The study found full-time daycare for one infant can cost families at least 10% of their annual income in 48 states and D.C. Full-time daycare for one infant costs around $14,000 annually on average in the U.S. A family with children under 18 years old earns an annual median income of $95,721. That means it would take nearly 15% of a family’s median income to afford that national average price tag. However, these costs vary depending on where you live, and some families may be using an even larger portion of their income to cover full-time infant care. Keep in mind we only gauged affordability, not accessibility or quality of child care across the country. Additionally, we didn’t take policy into consideration when assessing average infant care costs across the country, but if you live in a more expensive state for child care, it’s worth investigating to see if you qualify for state-level subsidies. New Mexico is an example of this. Despite being ranked No. 1 for the least affordable in our study, New Mexico is one of the few states that is trying to make child care accessible for most families. As of 2024, a family of four earning up to $124,800 annually can qualify for free child care in New Mexico. Parents: How much of your income is going toward child care expenses? How are you affording and managing high child care costs? Let me know in the comments ?? https://lnkd.in/dgHjNAgK