“My first kid went to daycare and suddenly over half my paycheck was going to daycare. Then I needed diapers, wipes, clothing, car payment, car insurance, and gas. Looking at all the bills, what's the point of this?” - A mother.
Families are facing a financial crisis with the steady increase in prices due to inflation, and childcare costs.
The U.S. Department of Health and Human Services (HHS) states that child care is considered affordable when it costs families no more than 7% of their household income.
Yet, on average, according to the Care survey, respondents are spending 24% of their household income on child care (vs. 27% in the prior year), with 60% spending 20% or more (as compared to 67% last year) and 84% spending 10% or more (compared to 89% last year).
With so much of parents' income going to childcare, many were relying on government support to ease the burden. But now, with the $24 billion subsidy expired, they’re facing even more pressure to find affordable options.
The United States is also the only country in the developed world that does not guarantee a woman paid maternity leave after her baby is born.
This financial strain is turning into a major issue, with many parents now looking to the government for solutions in the upcoming 2024 election
Parents are demanding a solution this election
Even more alarming, CNN Money says the average daycare cost is higher than in-state college tuition.
Parents are looking to the government for solutions to their problems in this upcoming 2024 Presidential election.
According to care reports, all parents who responded (88%) say a candidate’s position on child care policy will influence their vote, and a majority of respondents (59%) say child care access and affordability policy is among the top three issues that will impact their voting decision.
“You should vote in favor of anything that would improve kids' well-being. We live in a society. Good societies are founded on us caring about other people.
I want affordable childcare, good education, safe consumption, income support, strong healthcare… Voting “no” only holds down our peers, not the 1%” - A parent.
Prices of Childcare in Katy Texas
The cost of childcare varies from daycare to daycare depending on the child’s age, the location and the facilities. Here’s a breakdown:
Infant Child Care Cost
Child Care Days | Weekly Cost | Monthly Cost |
2 days | $296 - $407.84 | $1,184 - $1,632 |
3 days | $443 - $612 | $1,772 - $2,448 |
5 days | $740 - $1020 | $2,960 - $4,080 |
Toddler Child Care Cost
Child Care Days | Weekly Cost | Monthly Cost |
2 days | $192 - $288 | $768 - $1,072 |
3 days | $290 - $432 | $1,160 - $1,728 |
5 days | $480 - $720 | $1,920 - $2,880 |
Preschooler Child Care
Child Care days | Weekly Cost | Monthly Cost |
2 days | $183 - $247 | $732 - $987 |
3 days | $274 - $372 | $1,096 - $1,486 |
5 days | $459 - $619 | $1,837 - $2,477 |
Compared to nannies who average about $700 - $770 per week. No wonder 62% of parents prefer to send their children to daycares.
Parents are depleting savings faster than ever with the ever-increasing price of daycare.
According to care reports, over one-third (35%) of parents who responded, on average spend up to nearly half of their savings (42%) on child care and 25% use more than two-thirds of their savings.
When asked how long their savings could hold out, a staggering 68% of respondents said that they have only six months or less until their savings are depleted.
Given the high costs, finding ways to reduce daycare expenses can make a huge difference for families. Here are some practical tips parents can take for childcare costs in Katy, Texas to lighten the financial load.
Helpful Tips to Save On Childcare
Research On Child Care Subsidies
This depends on your income, and some other factors, your family might qualify for a variety of childcare subsidies. Check out these programs, resources and other options that could reduce how much you’re paying for care.
Look Into Free Preschools in Katy, Texas
Free preschools are available for families who meet the eligibility criteria. These criteria depend mostly on income. Search for your local school district or Texas Education Agency for more information.
Use Flexible Spending Account
A Flexible Spending Account(FSA) lets you set aside money from your paycheck before taxes are taken out. This pre-tax money can be used to pay for childcare expenses. Most FSAs come with a card or an easy way to get reimbursed.
“I can’t believe the conditions of some daycare centers. My daughter has been at her daycare for almost 2 months. She doesn’t seem to like it very much. The rooms are super small with too many kids.” - Anonymous
Paying so much money should be put to good use, your child should be looked after in a trusted and safe childcare center.
At Redeemer’s Learning Center, we prioritize safety, health, and spiritual growth in an environment that feels like family.
Schedule a tour with us today and see firsthand why Redeemer’s is the trusted choice for parents in Katy, Texas.
Comments