Where I live childcare is like 4 years, at 3-4K a month. Lets assume 40months of care. That’s 120K at 3K a month. College tuition at a state university is about the same, it’s about 30K a year.
Upper middle class people can afford these kinds of costs. Where I live upper middle class is 250K+ a year. Pretty easy to afford 50K college tuition if you simple skip the luxury cars for a few years.
The people who can’t afford children at the ones making under 100K a year.
A quick google search puts the middle class between $50k-$150k a year for a 4 family income. We’re closer to the top end of that but don’t have a lot of disposable income.
we live in a relatively small 3 bedroom house with a very tiny yard.
we buy used cars and keep them for ever. We just replaced our main car that we had for 20 years, with a 2017 model.
we typically go camping twice a year for vacation.
we give 15k away to charity every year
all our stuff is old, the one tv is 15 years old, we have a Nintendo switch for gaming, and our phones are 6 years old. We don’t remodel the house or buy new furniture.
Our two luxuries are not thinking about money every day, and eating out more than we should. We both work so cooking is tiring.
With all of that our savings is nothing to get exited about. Especially now that we have two kids in college. It is less than 10k.
We could pay $10k a year to college without making a radical change, but it would be a real struggle.
I’m not sure you know what middle class looks like, I think your assuming were rich. Obama has an interesting show on Netflix that looks at a few businesses and profiles the lower, middle, and upper class employees. It is an interesting watch and does a good job of showing just how much or little the middle class has.
Finally I feel that low cost or free child care would be one of the best things the government could do. My wife wanted to stay home with the kids, so we struggled financially but did not need to worry about child care (we both made the same amount at the time, it cut our income in half). But we had plenty of friends struggling to pay the daycare. Being able to go back to school or work when you have kids would be a big plus to the economy, as well as a great way to help lower and middle class people get a small leg up. A great investment in my mind.
In our state schools spend around $10k a year to keep a kid in public school. My guess is that kinder and daycare cost about the same. They only add a few extra years of schooling, so we’re talking a 20% increase in the school budget to let everyone have daycare after the first year.
How is college any different than child care?
Where I live childcare is like 4 years, at 3-4K a month. Lets assume 40months of care. That’s 120K at 3K a month. College tuition at a state university is about the same, it’s about 30K a year.
Upper middle class people can afford these kinds of costs. Where I live upper middle class is 250K+ a year. Pretty easy to afford 50K college tuition if you simple skip the luxury cars for a few years.
The people who can’t afford children at the ones making under 100K a year.
A quick google search puts the middle class between $50k-$150k a year for a 4 family income. We’re closer to the top end of that but don’t have a lot of disposable income.
Our two luxuries are not thinking about money every day, and eating out more than we should. We both work so cooking is tiring.
With all of that our savings is nothing to get exited about. Especially now that we have two kids in college. It is less than 10k.
We could pay $10k a year to college without making a radical change, but it would be a real struggle.
I’m not sure you know what middle class looks like, I think your assuming were rich. Obama has an interesting show on Netflix that looks at a few businesses and profiles the lower, middle, and upper class employees. It is an interesting watch and does a good job of showing just how much or little the middle class has.
Finally I feel that low cost or free child care would be one of the best things the government could do. My wife wanted to stay home with the kids, so we struggled financially but did not need to worry about child care (we both made the same amount at the time, it cut our income in half). But we had plenty of friends struggling to pay the daycare. Being able to go back to school or work when you have kids would be a big plus to the economy, as well as a great way to help lower and middle class people get a small leg up. A great investment in my mind.
In our state schools spend around $10k a year to keep a kid in public school. My guess is that kinder and daycare cost about the same. They only add a few extra years of schooling, so we’re talking a 20% increase in the school budget to let everyone have daycare after the first year.