This Expense Costs Americans $9,006 a Year
Holding down a job is challenging in its own right, but when you have children, it can suddenly become a more daunting prospect -- especially when you consider the cost of child care these days. The average American spends an estimated $9,006 on child care each year, reports GOBankingRates. Meanwhile, the average U.S. salary is $51,960, says The Ascent, based on data from the Bureau of Labor Statistics. As such, the typical worker with kids is spending over 17% of their income just to maintain the ability to bring home a paycheck.
If you're struggling to keep up with the cost of child care, you're clearly not alone. But a few smart moves on your part could help make that expense more manageable.
Choosing your child care wisely could help make it more affordable. But at the end of the day, if the going rate for full-time care in your area is somewhere in the ballpark of $9,000, there may be little you can do to lower your costs.
Source Fool.com
