In a shocking twist, a new public service announcement (PSA) has shed light on the staggering expenses of childcare in the United States, highlighting that in many areas, educating a 4-year-old in preschool can actually cost more than sending an adult to college. How did we arrive at such a bewildering scenario?
Parents once poured their energy into planning for college tuition, but by the time their children are ready for public school, they often find themselves financially exhausted. The phrase “Don’t have kids you can’t afford” may have once made sense, but it now rings increasingly hollow as childcare costs soar. So, how can families even begin to prepare for this overwhelming financial commitment?
The whimsical PSA features charming young children who help convey a serious message: the cost of childcare is outrageous. “The average expense for childcare is around $11,000 per child, per year. We should probably start saving right away,” says a pint-sized financial advisor to his client, who appears to be about four years old. “If you begin saving now, it might take you about 20 years to afford your kids’ childcare—well, sort of.”
“I’m not gonna sugarcoat it; you’ll be living paycheck to paycheck,” he adds, with a grin.
As a parent myself, I can relate. My little one attends part-time preschool, which costs us $400 a month for just four days a week, three hours a day. If we opted for full-time, that price tag skyrockets to $900 a month. Our three-year-old goes to daycare twice a week for a full day, adding another $450 to our monthly expenses. To cover full-time daycare and preschool for both kids, we’d need to shell out $1,950 a month—more than our rent!
So, for a few days of preschool and daycare for one child, we’re racking up more than $10,000 a year. Next year, with one child starting kindergarten, we’ll be able to afford a little extra daycare for the younger one. But even then, we’re looking at $600 a month for part-time care. Why not just add a few more days to the schedule? Because we’re tired of seeing our bank account dwindle to zero by month’s end.
This eye-opening PSA comes from Make It Work, an organization advocating for practical workplace policies and ambitious solutions to help families thrive. Their mission is clear: “America deserves common sense policies that enable hard-working individuals to have a decent life, not just a decent living.”
You can contribute to this cause by taking a simple pledge: “From today onward, I’ll only support candidates who back initiatives that help everyone ‘make it work,’ including equal pay, a living wage, paid sick leave, and affordable childcare.”
It’s time to take action.
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In summary, the rising costs of childcare are no joke, and it’s crucial for families to be informed and prepared. The conversation about work-life balance must evolve to ensure that everyone has the opportunity for a fulfilling life, not just a paycheck.