The cost of childcare in the United States can rival a mortgage payment, but it may be money well spent.
A recent study from the University of Colorado finds that access to quality day care can be an indicator of not only a child’s future success, but also of their parent’s lifetime earnings.
Quality care, defined as daycare that includes educational activities and healthy meals offered on a consistent basis, helps better prepare kids for school and the labor force, with significant impacts on those trapped in a cycle of poverty. In fact, the longitudinal study reveals that children that have access to quality day care go on to out-earn children who do not have the same opportunity.
Not only are the kids benefiting, parents with access to full time quality care for their children also out-perform their peers over the long term with regard to wages earned. Being able to count on consistent, quality care helps parents to focus on making money for the family with greater success.
The results from the study underscore the importance of quality child care programs, particularly for economically vulnerable families such as single parent households, families dealing with unemployment or underemployment, families with disabled members and minorities.
As the director of Child Care Aware of America, a national organization focused on the quality of child care, sees it, the long term outcomes of receiving quality childcare is a “win for parents, children and the future workforce.”
For divorcing parents with children, it is important to consider what is in the best interests of your child when determining child custody (parenting time), child support and marital property division. It may be that you have questions regarding who will pay for your child’s educational expenses, such as daycare, or who will stay in the family home. You may have questions regarding who will make important decisions on your child’s behalf when you and your ex-spouse do not see eye-to-eye on important issues such as education, religious upbringing and the like.
When trying to shape your and your children’s future following a divorce, discussing your family’s needs and goals – both short term and long-term – with an experienced family law attorney will help you to make decisions that will help your family succeed. Contact the Law Offices of Ronald L Bell PC for answers to your questions regarding an Illinois divorce today at 847-495-6000.
Source: Washington Post, “Why Your Children’s Day Care May Determine How Wealthy They Become”, by Danielle Paquette, accessed April 25, 2017.