The Impact of Childcare Costs on Families' Financial Security
May 31, 2024
In-depth

In May 2024, Count on Mothers examined how childcare costs and access shape U.S. families' financial security — including effects on savings, work hours, net income, career advancement, and long-term earning potential. Drawing on a national sample of mothers across regions and the political spectrum, the survey combined eight quantitative measures with an open-ended question inviting mothers to propose solutions. Findings show that childcare costs exert significant pressure on family finances, employment decisions, and long-term economic security — with patterns largely consistent across the political spectrum.

Related themes:

Shared Priorities and Cross-Partisan Alignment Among Mothers

  • Childcare consumes a significant share of household income:
    Among mothers who pay for childcare, 55% spend more than 10% of household income, and 37% spend more than 15%, indicating substantial financial strain.
  • Childcare costs undermine financial stability:
    Nearly 7 in 10 mothers say childcare expenses directly limit their ability to save for emergencies, education, or retirement, and more than half report that lack of access to childcare has contributed to financial insecurity.
  • Reduced earnings are common:
    Over 60% of mothers report reduced household net income due to childcare needs, and a similar share say they have cut work hours or earnings to manage caregiving responsibilities.
  • Reliance on informal care is widespread:
    About 72% of mothers rely primarily on family members, partners, or themselves for childcare during working hours rather than paid care.
  • Long-term earning potential is at risk:
    More than half of mothers believe taking time out of the workforce for childcare has negatively affected their future earning potential, with variation by political affiliation.
  • Mothers call for affordability and systemic solutions:
    In open-ended responses, mothers most frequently suggested lowering or capping childcare costs, increasing public subsidies, employer-based childcare supports, and more flexible work arrangements.

Source: Count on Mothers, The Impact of Childcare Costs on Families' Financial Security, May 2024. Nationally representative survey of U.S. mothers, n=1,048, across 48 states, weighted across political ideology and region. Findings submitted into the record at the U.S. Senate Finance Committee hearing on Examining the State of Child Care: How Federal Policy Solutions Can Support Families, Close Existing Gaps, and Strengthen Economic Growth. Findings presented to CHIPS for America at the U.S. Department of Commerce. Research led by a PhD-credentialed researcher and an MPH data scientist.

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Methodology
Count on Mothers conducts nationally representative research with U.S. mothers, weighted to reflect the population and reported in aggregate. Research is led by a PhD + MPH team. Findings have informed policy, industry, and media, and entered the Congressional Record on childcare, paid leave, and technology policy.
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