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The shocking number of Australian families stretching their finances on childcare

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Article image for The shocking number of Australian families stretching their finances on childcare

Australian families are regularly spending more money on childcare fees than groceries or power bills.

A study from Victoria University’s Mitchell Institute found childcare was “too expensive” for 39 per cent of families.

Dr Peter Hurley, Fellow at Victoria University’s Mitchell Institute for Education and Health Policy, told 3AW Drive the study uncovered some troubling, yet unsurprising, trends.

“There is an international benchmark of no more than seven per cent of household disposable income on childcare – that’s what is considered affordable – and about 40 per cent of families are exceeding that benchmark,” he said.

Press PLAY below to hear him analyse the figures

Picture by Getty iStock.

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