Your Money Matters: Rising Childcare Costs And Ways To Get Help

Childcare can take a lot of your money, but there is some help out there.

The national average cost of childcare is about $965 a month.

That's up 30 percent, or $289, since 2019.

In Oklahoma, it's averaging $763 a month.

Child Care Aware of America says if you take your child to a center, as opposed to family care, that's going to cost you at least $1,000 a year more.

And for a single parent, that can shake out to over 32 percent of your total income.

That means the other 68 percent of your take-home is just keeping a roof over your head, food on the table and gas in the car.

Here are some ways to help!

At childcare.gov, click on Oklahoma in the dropdown menu and some programs can help you pay for childcare there.

Consider flex spending accounts at work, which take out money pre-tax to pay for tuition.

Be sure to file those taxes early to get child tax credit money.

From personal experience, save all your receipts or invoices from the place you get child care.