The standards for raising a family have changed. In today’s world, it’s not uncommon for both parents to work in order to contribute to the household income. Doing so often means having to spend many hours away from their kids. This prevalent practice has created a need for caregivers that exist outside of the family dynamic.
The U.S. Census Bureau reports that “32.9 percent of children under age 5 are in non-relative care, including day-care centers, preschools and in their own homes”.
While there’s a greater number of child care options than ever before, costs are steadily on the rise. One in five families spend a quarter of the household income on it.
The Hard Numbers
According to the Department of Agriculture, a middle-income family will need roughly $233,610 to raise a child. College costs are not included in this figure. However, most families will require some form of child care before their kids are in secondary school.
The results of a study published by Care.com in the first half of 2018 showed that one in three families spend at least 20 percent of their annual household income on child care. 60 percent said that costs have only gotten higher for them in the course of a year.
Child care costs also varied by state. In Arizona, the annual cost of center-based care was around $6,615. Meanwhile, it came up to a whopping $19,805 in Washington, DC.
Having a Budget
In lieu of all these findings, more and more parents are becoming keener on tracking their expenses and implementing a budget. They are cutting back on date nights and non-necessities like premium cable subscriptions to be able to cope with the rising costs of child care.
For Dominique Baillet, Senior Editorial Director for Care.com, this is a welcome development. “Child care costs are steadily on the rise in America and while we’re excited to see the rise in the number of families budgeting, child care costs still remain the No. 1 cost that surprises parents the most when they start having children,” she said.
Opting for Center-based Care
Rising child care costs are also putting center-based care as a more viable alternative to having a full-time nanny. In some states, the cost of hiring a full-time nanny can be double of what it costs of putting a little one in daycare.
Care.com found that the annual cost of a nanny in Utah is $27,566 while the number comes up to $34,592 in the state of Massachusetts.
Aside from the cost factor, another advantage of center-based care is the interaction. If you consider a preschool that has adopted the Montessori Method, children are in a class together.
Having classmates allows children to develop interpersonal skills as well as develop a love for learning key subjects like Math, Language, Science, and Geography. The children are also taught practical skills that will serve as the foundation for them to grow into confident and capable adults. Contact Kid’s Town Montessori School today for more information!
Kid’s Town Montessori School is centrally located at 867 Sycamore Avenue in Vista, California and is proud to serve the cities of: Vista, San Marcos, Escondido, Carlsbad, San Elijo Hills and many more