Can we talk about the cost of child care for a minute?

I’d argue that one of the most overwhelming parts of new parenthood is not the lack of sleep (though that’s rough). It’s figuring out how the hell you’re going to pay for child care.

Everyone (including me!) loves to quote the stat that child care for two kids costs as much as a monthly mortgage in 45 states and Washington D.C. And it’s more expensive than public college tuition in 41 states. Needless to say if you’ve got two or more in daycare, chances are, your budget is probably stretched a bit thin right now.

So when we started talking with Babylist about episodes for the Family Money podcast, we all quickly agreed that we had to talk about the cost of child care. And I knew the perfect guests: financial expert Farnoosh Torabi and economist Corinne Low.

Farnoosh and Corinne are both moms with two kids, so they know exactly what it’s like to pay for child care. But beyond their personal experience, they bring a real expertise to the topic. Farnoosh offers advice on the important questions you should ask staff when choosing a daycare center. (Ask about turnover rate!)

And Corinne helps us reframe child care not as a drain on resources but as an investment in our careers. That’s perhaps my favorite part of this episode, when Corinne reminds us that our babies’ child care days are time bound. But when moms choose to leave their jobs, it can have an outsized impact on their careers.

“If you step outside the labor force, the loss of the investment in your human capital is going to add up to way more than just your salary in that single year,” Corinne says. She encourages parents to think about their financial—and career—planning over a longer time horizon. Your babies won’t be babies forever. Which is sad because the snuggles are nice, but ultimately, probably better for our budgets and, frankly, our careers.

Of course, some parents do decide they’d rather downshift their careers and stay home with their kids—for all kinds of reasons. And that has its merits, too! We’ll be diving into that topic on next week’s episode, when we talk to Neha Ruch, founder of The Power Pause, a community focused on supporting stay-at-home moms.

I’m curious: If you’re a parent paying for kids in daycare, how are you feeling about your budget? Are there cuts you’re making in order to be able to afford child care? And are there are other money-related topics you’d like us to dive into?

Side note: I also recommend this edition of Home Economics, featuring a family of four in Milwaukee who spend more on child care than they do on their mortgage.

And a couple of years ago, I did a deep dive into the cost of child care and why people need to stop framing it as an expense that just the mother’s salary pays for.