WABASH VALLEY (WTHI) – College tuition looms large on a parents mind, but a new study shows parents will deal with an even larger kid-related cost long before college.
It’s one very few of them are prepared for.
That expense is day care.
The rising cost of child care is why Brandae Stateler is home today.
“For just two days a week I was paying $120 a week for just two kids, so I thought being a stay at home mom has so many wonderful perks.”
Like saving money, as a mom of 3 with 2 step kids, her job in Human Resources just wasn’t enough.
“With what I was making versus child care expenses it just didn’t feel like the pros outweighed the cons,” said Stateler.
It’s a struggle that a lot of families are facing.
According to a report released by Childcare Aware, Hoosiers pay on the average of $8,000 a year to send a child to daycare, while public college tuition is $8,700.
“Yes I do see why they say that, because in a way daycare has risen,” said Mary Gottsche, Owner of Kiddie Korner.
To send your infant to Kiddie Korner in Brazil, Indiana runs just over $5,000.
“In a small town like this our prices are different. I do know in Indianapolis and Terre Haute it’s a different pricing,” said Gottsche.
Still the figure may seem high but Gottsche asks you to consider the amount of money going out, $4,000 a year in property taxes and $150 a week for grocery’s.
“If you bring in $1,500 for the week and your payroll is $1,200 you have $300 left for groceries, which groceries have gone up a lot this year, and you have any bills you have to pay,” said Gottsche.
Not including what she pays her staff.
“If you want quality daycare and for me to hire quality people here to work with me, then you are going to have to pick up that cost,” said Gottsche.
A cost Stateler understands but would rather avoid.
“I definitely want to go back to work at some point it’s just with them being so little right now, maybe when they get to the age where they can stay home,” said Stateler.
Nearly 30 percent of moms stay at home now, up from only 23 percent in 1999.