Australian Finance Podcast How much does childcare cost in Australia? [👶🏼 Family Finance]
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Dec 4, 2024 In this enlightening discussion, Siobhan Ashby, a financial advisor from North East Wealth, sheds light on the complexities of childcare costs in Australia. She breaks down how expenses vary with household income and explains the impact of government subsidies. Personal anecdotes reveal the emotional stress families face when navigating daycare decisions. Siobhan also emphasizes the importance of timely applications for financial assistance and provides budgeting tips for families looking to balance care and costs effectively.
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ASX-Listed Childcare
- Phoebe Kohler's child attends an ASX-listed childcare center, costing $181 per day pre-subsidy.
- She receives a $91.66 subsidy and gets app updates on her child's care.
Childcare Subsidy Complexity
- Childcare costs vary significantly based on household income, with higher earners receiving lower subsidies.
- While the childcare subsidy cap recently increased, childcare centers also raised fees, offsetting some of the benefits.
Childcare Fee Hikes
- Mitchell Sneddon observed that childcare fee increases often followed government subsidy announcements.
- This frequent price hike adds to the financial burden on families.