The Soaring Cost of Child Care - and How to Prepare for Your Child’s Future
Child care is now one of the biggest expenses families face.
According to a recent CNBC report, the average annual cost of child care in the U.S. is over $11,500 - and in some states, it’s much higher. That’s more than the average cost of in-state public college tuition in many parts of the country.
In Massachusetts, for example, the annual cost of infant care is over $21,000, while states like California, New York, and Connecticut aren’t far behind. Even in lower-cost states, families often spend 10–15% of their income on care for just one child. It’s no wonder so many parents feel overwhelmed.
💡 Why this matters
As parents, we want to provide the best for our kids - but when child care eats up a huge portion of your paycheck, long-term planning often takes a backseat.
That’s where UNest comes in.
🛠️ How UNest helps
UNest makes it simple to start saving and investing for your child’s future - even when things feel financially tight. A UNest UTMA account is a custodial investment account that grows with your child and can be used for a wide range of expenses, not just college.
From preschool fees and extracurriculars to a first car or trade school after graduation, a UNest account offers the flexibility families need in a world where costs are rising fast.
You can start with as little as $25/month. The key is consistency - not perfection.
🌱 Start small. Think long-term.
The best time to start saving for your child was yesterday. The second-best time is today. Automating small, manageable contributions can help you build a cushion for the expenses you know are coming - and the ones you can’t predict.
✅ Take 5 minutes today:
- Open a UNest UTMA account
- Automate a monthly contribution
- Help build a brighter future for your child
Your child’s future deserves more than just hope. It deserves a plan.
Don't just take our word for it
Hear what trusted money experts say about why UTMA and UGMA accounts can be a smart way to invest for a child’s future.
There are some tax advantages to using UGMA and UTMA accounts… Since they’re in your child’s name, the accounts will be taxed according to their tax bracket… There are no contribution limits on UGMA and UTMA accounts.
Dave Ramsey
Personal Finance Expert
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Investing for your kid’s future
Dave Ramsey
Personal Finance Expert
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...you could consider opening an account where you can dive deeper with the kids by your side. The easiest way to do so is to open a custodial account, known as an UGMA ... or UTMA ... account.
Jill Schlesinger
Emmy winning Business Analyst
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Straightforward “starter” investing account for kids
JILL SCHLESINGER
Emmy winning Business Analyst
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You can give children money that can accumulate somewhat tax-free over time... I love them (UTMAs) because they were like, trusts that you didn't need lawyers to create.... I think it's one of the better tax breaks around though. I know hunting for tax breaks may not sound very exciting, but that's how you take care of your family.
Jim Cramer
CNBC Host
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Give children money that can accumulate over time
Jim Cramer
CNBC Host
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