Read previewThe financial well-being of American parents with young children is plummeting, highlighting how unaffordable childcare costs have become.
Advertisementathima tongloom/Getty ImagesThe percentage of parents with children under 18 who felt "okay financially" dropped from 69% in 2022 to 64% in 2023.
Data from the Federal Reserve shows that parents haven't felt this financially insecure since 2015, when it recorded 65%.
"The median monthly amount that parents using paid care paid for childcare was $800.
Business Insider estimated that it could cost parents nearly $26,000 a year to care for one child in 2024 — a 41.5% increase from 2016.
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