A new report prepared by Child Care Aware finds the cost of child care is more expensive than you might imagine. In fact, the annual cost of child care for the typical Garden State family is higher than a year of tuition and fees at some large universities.
WASHINGTON (AP) -- A child born in 2013 will cost a middle-income American family an average of $245,340 until he or she becomes an adult, with families living in the Northeast taking on a greater burden, according to a report out Monday.
New Jersey and New York City residents have some of the highest costs of living in the nation, which is why it comes as no surprise that baby-sitting rates in the region are on the high side as well, averaging $15.34 an hour for one child according to UrbanSitter's 2014 Childcare Rate Survey.
On the heels of Gov. Chris Christie's budget address, a new report finds many child care providers are operating on "shoestring budgets" that prevent them from delivering the best possible care to New Jersey's youngsters.
It is recommended that parents should spend no more than 10 percent of their annual income on child care. A new special report released by Advocates for Children of New Jersey (ACNJ) reveals the typical Garden State family is shelling out more than double that amount.
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