Childcare Aware of America (yes, it’s a group that wants you to be aware of how much child care costs and change that) has some interesting statistics for the new group of parents: Millennials.
In Texas, the average cost of having an infant in a child care center is $9,207. The cost of having an infant and a four-year-old (a completely plausible scenario) is $17,020. Turns out the cost of public college tuition is almost the exact same as the infant child care rate: $9,221 a year.
Parents who are married are spending 11.5 percent of their income on infant care and 21.3 percent of their income on care for an infant and a 4-year-old. Single parents are spending 38.5 percent and 71.2 percent.
And now you know why you have no money. Of course, as any parent knows, once you send your children off to school, even public school, you never really seem to see that money return to your bottom line. Soon there are extra curricular activities and school fees that seem to take away the money you thought you’d now have.