New Jersey ranks as the second most affordable state for families looking for a nanny to take care of their children and the fifth most affordable state for those looking to place their children in a daycare center. This is according to theby Care.com, the world’s largest online marketplace for finding and managing family care.
The cost of taking care of children has a profound effect on family life and finances. Care.com found that 52 percent of parents believe they spend too much on childcare and 40 percent say the cost issue has caused tension in their relationship. It’s hardly surprising, then, that almost half of parents (47 percent) wish the United States subsidized childcare costs as some other countries do.
The survey also found that 32 percent of families spend 20 percent or more of their income on childcare. It found that the cost of care in centers ranged from $6,605 to $20,209 a year. The annual cost of a nanny — caring for one child — ranged from $27,019 to $32,677.