Nearly 50% have reduced spending on food and dining out, along with other items like clothing.Īside from eating at home more, there are a number of ways you can reduce your other monthly costs. To stay within their budget, 51% of parents in the Care study state they’ve cut back on non-essential costs like leisure activities, vacations and travel. But in the meantime, how are parents going to manage? Tips to get ahead has a reputation for having one of the worst parental leave policies in developed countries, and it could come back to bite employers who don’t get ahead. That’s despite 90% of Americans believing the government should demand businesses offer paid maternity leave. The average parent now receives just 18 days of paid leave, with a further 18 unpaid. Get in now for strong long-term tailwinds Read more: Rich young Americans have lost confidence in the stock market - and are betting on these 3 assets instead. Over 30% of respondents worried they may lose their job entirely for either requesting or taking parental leave. In another survey, 42% of Americans stated they didn’t feel their boss supported parental leave, and 22% felt they were passed over for promotions or raises for taking that leave. If businesses want to retain talent, parental leave policies need to change. Parents want time with their family, and that’s especially true with a newborn.
For many, these costs are difficult to keep up with. In the same survey, nearly 60% of parents said they planned to spend $10,000 on child care in the year, which is more than the average cost of in-state tuition at $9,377 as of 2022. In a recent survey by Care, 63% of parents found that their child-care expenses have climbed in the past year, with over half saying they spend more than 20% of household income on that budget line alone.
With many child-care centers being forced to close their doors, demand has skyrocketed - and so have their fees. And this number has only risen post-pandemic. That includes food, clothes, health care and child care. In most states, it costs over $13,000 to raise a child in their first year of life. But whatever side you fall on, the problem is clear: Costs are rising, and parents are struggling to keep up. Responses were mixed, with some siding with the poster and others with her mother. “I want to save money to bring down our debt,” she wrote. While the reasons her mother won’t simply babysit from her own nearby home where they already have all the supplies went unexplained, she did offer her main reason for turning to her mum. In addition to her hourly rate, the grandmother added she’d charge her daughter late fees if she was tardy to pick up the baby, along with requesting they provide her with a carseat, stroller, bottles and doubles of everything need to care for the child because as the poster explained, “she will not step foot in my house.” Here's how much the average American 60-year-old holds in retirement savings - how does your nest egg compare? 'Hold onto your money': Jeff Bezos issued a financial warning, says you might want to rethink buying a 'new automobile, refrigerator, or whatever' - here are 3 better recession-proof buys
You could be the landlord of Walmart, Whole Foods and CVS (and collect fat grocery store-anchored income on a quarterly basis) A 29-year-old mother recently asked Reddit if it was unreasonable for her retired mother, who she makes a point of saying “is at home all day long,” to ask for $20 in hourly wages to care for her kids. Struggling with the rising cost of living and exorbitant daycare fees, parents are looking to save where they can, and that includes turning to family for child care help.īut not everyone’s willing to do it for free.
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A mom went viral on Reddit for claiming grandma won't babysit for less than $20/hour as millions of US parents struggle with soaring daycare fees - here's how to boost your child-care budget
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