Seattle isn’t cheap to live in, and raising a child is a surefire way to dramatically decrease your spending budget
A new study from Haven Life, an online life insurance agency, broke down the cost of childcare in each state and the percentages parents take out of their incomes, ranking each state. But what’s most significant about the study isn’t how much childcare costs in each state, but the strain they put on households.
For example, while Washington on average has a higher cost of childcare than Illinois, it takes out about 57 percent of a minimum wage income compared to 78 percent in Illinois.
The study also answered the most important question: Is it affordable?
What they said is that for couples with dual incomes, which the study describes as “married-couple family incomes,” only two states have affordable childcare: Alabama and Mississippi. It said no states were affordable for single-parent incomes or minimum wage incomes.
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