While the experience of raising a child may be priceless, the cost to provide care for them is getting to be more than most parents can afford, reports CNN Money.
According to a report from Child Care Aware of America Thursday, the annual cost of infant care increased roughly 2% last year and ranged from about $4,600 in Mississippi to $15,000 in Massachusetts. Meanwhile, the cost of providing care for a four-year-old increased by more than 4% and ranged between $3,900 a year in Mississippi to almost $11,700 a year in Massachusetts.
In almost half of all states, the cost of center-based care for one child exceeded annual median rent payments, the report said. And when two children are factored in, the costs exceeded rent payments in all 50 states. This news is extremely stressful for parents who are already juggling unemployment and the rising costs of food and gas.
What do you do to cut costs? Have you found that child care costs vary from state to state?
To read the full article, visit http://money.cnn.com/2012/08/16/pf/child-care-cost/index.html?iid=GM.