A new study shows that parents are spending about 24% of their household income on child care. The U.S. Department of Health and Human Services considers child care affordable if it costs the family no more than 7% of their household income.
The study also showed that more than one-third of parents are using their savings to help pay for child care.
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READ: New study shows childcare costs are more than in-state college tuition in Florida
The Economic Policy Institute reports that in Florida the average annual cost of child care is $9,238 or about $770 a month.
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