00:00Coinage. Life. Well spent.
00:04Presented by GEICO. Ask a parent what the most expensive part of raising
00:08a kid is, and they won't say college or diapers. It's daycare.
00:12Childcare is crazy expensive. For babies and toddlers,
00:16American households spend around $3,000 to $19,000 a year
00:20for childcare. On average, a family shells out $9,000
00:24for junior. The price for childcare lowers as kids enter preschool age,
00:28but still, that's comparable to a year of in-state tuition at many
00:32public universities. Why does the average family have to spend almost
00:36$800 a month on childcare? Where does all that money go?
00:40The staff at daycare centers are definitely not raking it in. Childcare workers
00:44make an average of about $10 an hour, and studies show
00:48those workers are earning less than they did five years ago. Some blame
00:52increased regulations on childcare costs, but most daycare centers actually
00:56exceed state requirements for staff to child ratios to stay competitive.
01:00No one wants to put their baby in a center with minimal adult supervision.
01:04A decrease of federal and state funding for childcare centers has contributed
01:08to the rising costs. But ultimately, the price of daycare appears
01:12to be linked to the real estate market. The most expensive childcare markets
01:16are in places where rent is highest. As rents rise, overhead costs
01:20go up, up, up. Oh, baby.
01:24Coinage. Life well spent. Presented by GEICO.
01:28amb UX.
01:30This is an SOL Nathan��ë Project, presented by GEICO.
01:33ĺŽ
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