Friday, January 11, 2008

Child Care Crisis

I found an interesting article that I wanted to pass on. For anyone that is considering becoming a parent, you might want to read this article. If you want to read the whole article, you can find it here http://articles.moneycentral.msn.com/Investing/HomeMortgageSavings/ChildcareCrisis.aspx?GT1=10826#pageTopAnchor
Here is a portion of it:

Wendy Brauner's rent clocks in at $1,800 a month -- what some might consider a great deal in San Francisco. But don't think Brauner is living the high life. With a son, 3, and another almost 6, she was spending $2,750 a month on child care until her oldest started kindergarten last fall -- nearly 20% of her household income.
"I was writing a check for $17,000 to the preschool and wondered why it sounded so familiar," she says. "Then I realized it was a few hundred off what I paid for my first semester of college at Wellesley. It's just an enormous outlay."
I get that. Even with just one child, child-care costs were a major chunk of my own family's monthly expenses until our daughter, Harper, started kindergarten. The tab never came close to the $3,200 a month we spend for shelter, but that was mostly because, as a freelance writer, I can shuffle my work hours as needed. And that saves money -- a lot of money. In part-time day care, Harper never cost us more than $900 a month. Video: Should one parent just stay at home?
Still, it's a serious budget item. And we're among the lucky ones. The cost of child care in this country is one of those little secrets -- like leaky diapers and colic -- that parents just don't share with friends who are expecting.
Forget about the angst and expense of finding shelter that is safe and warm for your new arrival. I'm talking about the sticker shock of handing over a significant chunk of your paycheck every month just so you are free to work. That $2,750 a month for Brauner? That was after taxes, of course. Map: Average cost of child care
Yes, the federal government grants a tax credit of up to $1,050 per child for up to two children in child care. But that's annual: Brauner ran through it in less than a month.

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Books to read:

  • Diary of a Mad Mother to Be by Laura Wolf
  • Diary of a Mad Bride by Laura Wolf
  • The Nanny Diaries by Emma Mclaughlin and Nicola Kraus
  • Love in the Driest Season by Neely Tucker
  • Restavec by Jean-Robert Cadet