Between day-to-day essentials, child care, education, summer vacations and much more, the cost of having a family has continued to skyrocket. Inflation rates reached record highs over the past year, compounding the financial challenges working parents face. A 2022 report estimated that it would cost a staggering $310,605 to raise a child. Needless to say, it’s expensive being a parent.
In spite of the well-known financial burdens working parents face, there’s a disconnect between what they want and how their employers are responding. A recent Greenlight survey found that nearly half (44%) of working parents believe that their current employer does not care about their family’s financial well-being. What’s more, the survey revealed that 81% of working parents wished they had more financial education resources available to their families, and 66% would even switch employers for a company that offered better financial literacy support for their children.
