Episode 5: Mom’s at Work: The Price of Parenthood – why raising a family is more expensive than ever

In this episode, we dive into the rising financial pressures facing working parents today. From the skyrocketing costs of childcare, school supplies, summer camps, and college tuition to the everyday expenses of raising a family – the financial burden has never been higher. 

We speak with Kendra Cole, a PR professional and mother of three, about the crippling costs of summer camps across the U.S., with families shelling out thousands of dollars just to cover the school summer vacation. 

Meanwhile, wages haven’t kept pace with inflation, leaving many parents stretched thin as they try to provide stability for their children.

In 2023, the national average price of care for one child in the U.S. was $11,582 which averages out to $965 per month. For families with more than one child, that can be more than their rent or mortgage payment.

We speak with MarketWatch personal finance reporter Venessa Wong on how parents are going into credit card debt to cover costs. And how she herself feels the pressure to start saving for her kids’ college education before they reach high school. 

Many people have pushed back on returning to the office for more days because they’ve molded their work and personal lives around a more hybrid, flexible schedule for the last 5 years. Some employers are assisting with that transition better than others. Companies like Walmart, P&G and Cisco offer on-site childcare at some offices and back-up childcare services for working parents. They do so by partnering with Bright Horizons.

We speak with Priya Krishnan, chief transformation officer of Bright Horizons, about how employers are trying to bolster their benefits to help offset some of these stressors.

WorkLife Presents is hosted by Jessica Davies, founding editor of WorkLife, Sara Patterson is producer, and Tim Peterson is the executive editor of audio and video for Digiday Media. 

If you’ve enjoyed listening, please subscribe, rate and review us on Apple Podcast, Spotify or wherever you are listening. For more coverage, visit Digiday.com and WorkLife.news.