Childcare expenses have completely outpaced normal inflation, and it’s one of the biggest financial shocks new families face. We're talking real numbers and honest conversations about costs that can make you sweat. It’s not just expensive daycare. We're sharing creative strategies and money-saving hacks that actually work, plus exploring how to weave these massive expenses into your overall financial plan without losing your mind.
You'll also learn our best tips to raise money-smart kids from day one, breaking that uncomfortable taboo around talking about finances. If you're expecting, planning, or already knee-deep in parenting, you’ll get practical tools to navigate these crazy costs while setting your family up for long-term success.
Key moments:
(06:54) Childcare costs range from 10% to 35% of household income depending on situation
(14:33) Parenthood requires trade-offs, maybe swapping your dream car for practical payments
(19:58) Remember income restrictions apply to child tax credits
(24:49) Always prioritize retirement savings over your kids' college fund contributions first
(39:34) Kids absorb your money attitudes even when you're not actively teaching them
Resources mentioned:
Monarch Money
Child Tax Credit
Dependent Care Credit
Dependent Care FSA
The 7 Principles for Making Marriage Work by Dr. John Gottman
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