The average two-income household spends roughly $972 a month on child care, according to the National Association of Child Care Resource and Referral Agencies.
The rising costs of day cares and nannies, coupled with the increase in two-income homes, has lead to an examination of whether or not paying for child care is even worth it.
“Increasingly, middle- and upper-middle-class parents are finding that day care is hard to find or access and that even when it is available it is startlingly costly,” writes The New York Times’ Alissa Quart.
Quart’s article, “Crushed by the Cost of Child Care,” tells the story of Carla Bellamy, a professor of anthropology at Baruch College in Manhattan. Bellamy, whose husband works as a composer, struggles even with a dual income of $110,000 to find child care she can afford.
“Our entire disposable income goes to child care,” Bellamy told Quart. “I have a career, I work really hard, and yet I get no break.”
As other costs, such as gas prices, continue to eat away at the annual income of working men and women, some mothers think it simply isn’t worth it to work when close to half their annual income goes to pay for child care.
“It comes down to a cost analysis,” Anna Behnam, a financial advisor at Ameriprise Financial in Rockville, Md., told CNN Money last year. “I have several clients that have taken the route of quitting.”
Margaret Heffernan, in an article for CBS MoneyWatch, thinks that even though many women struggle to find affordable care for their children while they work, spending the extra cash to keep a career alive is worth the money.
“When I had my first child, I too nearly fainted at the cost of child care, but it never occurred to me to consider staying home instead,” Heffernan wrote on Tuesday. “Why?” She continued, “Because even if my work brought in net zero income to our family, I knew that that would not be true forever.”
Heffernan argues that the importance of a woman investing in herself outweighs the admittedly striking costs of child care.
“I'm struck that men don't seem to think twice about investing in themselves — in classes, qualifications, conferences and clubs,” she said. “They don't seem to have any qualms about spending time and money on their professional development. I think we can learn a lot from this.”
JJ Feinauer is a graduate of Southern Virginia University and a content writer for the Moneywise page on DeseretNews.com. Email: firstname.lastname@example.org, Twitter: @jjfeinauer.
- Celebrating Fourth of July is much cooler in these AZ towns
- Top ten road trip bathrooms in America
- Six things causing a pain in your neck
- 5 things to make your summer move easier
- Three elements of a strong timeshare exit guarantee
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.
- 6 of the biggest skin cancer myths
- Affordable small home makeover ideas
- Locals helping locals: 6 success stories you need to know about
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Overlooked water tips to save you money
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them