Child Care Is Getting More Expensive. Here's How Much Parents Are Paying and Ways They're Coping With Rising Prices |
Parents are making changes in order to accommodate the rising costs, with 31% of those surveyed by Care.com saying they are considering taking on a second job. Some 26% are reducing hours at work, 25% are changing jobs and 21% said they're leaving the workforce entirely.
Some are also reconsidering having another child: 35% said they're less likely to have more children, with 43% reporting the rising cost of care being a major reason.While advocates want the government to help with affordability, infrastructure and access, employers can also play a role, Mayslich said.
"We, as a nation, collectively have realized that more needs to be done to support families overall," Mayslich said.In the meantime, parents should analyze their specific situation to ensure they've chosen the most cost-effective option. For instance, in-home providers may be less expensive than sending multiple children to day care. Care.com has aYou can also set aside pretax dollars in a dependent care flexible-spending account, if your employer offers one.
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