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yes, i am paying 50k in after-tax money for 2 kids in daycare... out of necessity...to think ill be spending $250k before they even turn 5 years old is ridiculous...
It’s wild that there’s so much conversation about saving for college but not for daycare when planning for a family. I have 2 under 2 pay $76k / annually for both kids full time at Bright Horizons. Hopefully we’ll secure a seat in my public 3k in the fall for my oldest.
One of us staying home isn’t an option either bc our take home pay is significantly more than childcare but it’s still a crippling expense.
3 under 5 here. Childcare is expensive, but I’d much rather see broader rollouts of mechanisms like vermonts payroll tax deduction and employer contributions program aimed at a systemic solution to childcare costs with scaling eligibility phaseouts rather than making all childcare costs tax deductible.
Making everything tax deductible would just create another entitlement where the benefits disproportionately flow to high income households that can put their kids in the nicest and most expensive centers.
😮💨 yeah why hasn't it gone up? Would have been nice. 3 more months and I'm done paying for prek
If the limit kept up with inflation from when it was first implemented, it would have been closer to $15k in today’s dollars.
Not a hot take 😭. Let’s keep wondering why parents are having fewer kids (or not having kids) when our system is broken and daycare is often more expensive than mortgages.
Gen Z ain’t as physically amorous the way boomers an Xers were neither are millenials that’s why less kids
This is not a hot take
I wish!
Exactly
Our whole country needs a rethink about a lot of things
My aunt made a comment when I was a teenager that she felt like she was hemorrhaging money. I have never felt that as much as I do with childcare expenses.