The cost of childcare can be astounding for new parents especially if they live in a metropolitan area. While hanging out at a San Francisco park with my kids, a nanny said she gets paid $24 an hour for her single charge. And, this is in a working class neighborhood.
Then, a friend employed by a corporation known for having progressive family policies told me it would cost her $1700 (the reduced rate) to place her infant in the office's on-site daycare.
While these numbers may seem shocking, it's not likely that they will take a plunge anytime soon based on a working mothers need to find quality child care.
A recent MSN article about the expense said:
"Forget about the angst and expense of finding shelter that is safe and warm for your new arrival. I'm talking about the sticker shock of handing over a significant chunk of your paycheck every month just so you are free to work."
To finish the post, read more.
Many families are having to delay purchasing homes in order to make ends meet during their childcare crunch — the years prior to a child enrolling in kindergarten. And, this is in the middle class where even dual income families struggle. It said:
"Warren believes the two-income family is stretched, too, however. Child-care costs are rising at twice the rate of inflation, she says. After paying the mortgage, health insurance premiums, transportation costs and child-care fees, today's two-income families have less money left over than the one-income family did a generation ago."
Has your family been affected by the cost of childcare?