paying for childcare

Why Paying For Child Care Is More Expensive Than Ever

As of 2022, more than half of American parents are worried about how they’ll cover the cost of childcare. Between an uncertain economy and rising costs, paying for childcare has become a burden many cannot bear.

If you’re struggling to pay for a daycare or nanny, you may be wondering how to finance taking care of your little one. We’ll discuss the reason rates are up and how an installment loan may be the solution you are looking for.

Why Child Care Costs Are So High

Rules And Regulations

One babysitter, daycare employee, or nanny can only supervise so many children at the same time. While state regulations are listed for daycare centers, personal babysitters also have their rules when it comes to how many kids they will supervise and at what cost.

As rules about safety and guidance grow, daycare centers need to adhere to more laws and guidelines. This requires capital for both getting the right supplies and hiring the right people.

Competent daycare facilities with properly trained staff will also have higher rates, as their employees have been educated in how to provide the best environment for your child outside of their home.


Childcare programs must have liability insurance to cover any accidents or damage. As most people know, insurance policy premiums are often through the roof, adding to the overall expense and cost of private childcare.


These same centers work to grow their presence, advertising to local families so that their center becomes coveted and competitive. Marketing campaigns don’t come cheap, and this is yet another expense that affects the overall price of paying for childcare through a company or organization.

If you are hiring a private babysitter or nanny, this person may not have marketing, but they’ll account for their travel to and from your home. With gas prices on the rise, this could also affect personal rates.

why childcare is expensive

Higher Demand, Less Supply

As of 2022, 43% of parents say it’s been difficult for them to find reliable childcare over the past year. With the COVID-19 pandemic, the great resignation, and other factors contributing to a shrinking list of viable childcare employees, it’s hard to find someone you trust to take care of your child when you need it.

As most economists will tell you, the greater the demand for something and the smaller the supply, the more expensive that thing becomes. This is part of what we’re seeing with rising rates for paying for childcare across the U.S.


It’s no surprise that big cities seem to have higher costs when it comes to childcare, but these tend to be offset by the greater array of salaries available. Unfortunately, some people are still not making enough to make up for this gap in pricing.

For example, an average NYC family may spend over $16,000 per year on childcare for a baby, while those in Albany, NY will only spend around $11,300. Head to the even smaller city of Lake Placid, NY and you’ll be able to care for a child for less than half of this cost.

While this may make it seem like rural areas are better off, you will have fewer childcare options to choose from in these zones, bringing you back to the issue of supply and demand.

Paying For Child care Through An Installment Loan

Perhaps you had your childcare organized but something happened, and your childcare plans fell through. Rushing to find another daycare center or nanny at the drop of a hat can be frustrating and leave you with an unexpectedly high bill for paying for childcare.

At Mississippi Title Loans, Inc., we know that sometimes people need money for an emergency, fast. And we know the need for online loans in Mississippi. That’s why we offer a signature installment loan option that can be applied for in less than half an hour and, if approved, you can get your money as fast as that same day.

How To Apply Today

To apply for your installment loan through us, simply fill out our online form and wait for a phone call from one of our representatives. After this call, you’ll meet with the representative at one of our locations to bring in your documentation and the required items for an installment loan.

Once everything is verified, you’ll finish applying for the loan. If approved, you’ll get up to $1,250 in cash that same day.

Get Help With Your Child care Today!

Paying for childcare – especially when it’s an overdue bill or surprise expense – shouldn’t push you into a corner. Use an installment loan from Mississippi Title Loans, Inc. today to make sure your child is well taken care of while you provide for your family. Contact us today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.