Child care: the other mortgage payment no one warns you about.

Answer:  $11,582 per year

Questions:

• How might a high cost of child care affect a family’s decision about having children or how many to have?
• Do all families feel the burden of child care costs equally? Why or why not?
• How might child care expenses influence someone’s career choices or work hours?

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. 

Behind the numbers (CNN):

The report also shows that child care continues to be a major financial burden for many parents, though it has stabilized somewhat since the Covid-19 pandemic upended the industry in 2020, forcing many providers to close their doors or jack up their prices to retain their workers and maintain a safe environment.

Nationwide, the average annual cost of care rose to $11,582 per child last year, up 3.7% from the prior year. It was the smallest annual increase since the pandemic began and trailed inflation.

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.

More posts by Dave