Recent research by the Life Patterns Program surveyed parents aged 43 to 44 to get insight. The research set out to calculate how much money and time parents put into parenting their kids and the costs of doing so. The research shows that parents face several challenges.
Life’s High Costs
Increasingly high costs of living are a major stressor for many families. The term “cost of living” is used interchangeably with “price of living” to refer to the overall cost of purchasing goods and services. People often compare the cost of living in two cities to understand better how much money they will need to sustain themselves in each location. However, other variables contribute to or detract from the cost of living. For example, the cost of housing may vary widely depending on location. Depending on one’s location, a family of four (two adults and two children) will need an annual income of between $52,000 and $67,000 to maintain their current quality of life. An hourly wage of about $13 is reflected here.
The growing cost of living significantly impacts parents’ mental health and causes financial problems. Many parents are anxious about meeting their financial obligations, including housing, transportation, and child care. As a result, these pressures might negatively impact a parent’s health and, by extension, their children’s growth and development. The government should do more to ease the financial burdens of working parents and help them provide a safe, low-cost environment for their children to grow up in.
Incapacity to Form Attachments
According to a new study, forty percent of U.S.-born children do not have close emotional ties with either of their parents. These bonds are crucial to a kid’s future success and happiness. Children with poor attachments from an early age are more prone to display problematic behaviors such as hyperactivity, defiance, and violence. On the other hand, if youngsters are nurtured and supported by their parents early, they are more likely to form secure relationships. The Early Childhood Longitudinal Study was a large-scale study that enlisted the participation of almost 14,000. These kids were all born in 2001.
Loving and caring parents raise children who are more likely to succeed and experience less worry. Scientists attribute this phenomenon to the hormone oxytocin, secreted in response to positive emotions like love and tenderness. It has been demonstrated that this hormone benefits parenting and is crucial to a child’s emotional development.
Education Costs
Parents have a lot of responsibilities when it comes to spending money on their children’s education. Not only is tuition included in this total, but so are other related expenses like books and supplies. Private school tuition is much more expensive than public school tuition for most families. A private university’s average annual tuition and fees exceed $5,500. In addition to paying for their children’s education, many parents also must foot the bill for expensive educational software and hardware. If their child has a learning problem, they may also have to cover the cost of tests and tutoring. The prices of transportation to and from after-school and summer schools and the fees of those classes are examples of other expenses.
A rise in parents’ median income has not kept pace with the rising cost of education. An average of $51,257 per year is put up as the average cost of attending a private university by the College Board. However, only some families can afford to send their children to college full-time. In addition, only some households can afford to send their kids to college without taking out debt. Many families can cover the high expense of higher education using a combination of savings, loans, and school loans.
Lack of Efficient Time Management
Time management is one of the most pressing challenges facing today’s parents. In addition to handling office duties, household chores, and kid care, they must also make time for themselves. However, parents pressed for time and shouldn’t let their kids suffer. The good news is that parents can employ several methods to foster the growth of their children’s time management abilities.
Most people’s schedules have been busier since the introduction of new technologies. As a result, most parents try to find a middle ground between working and caring for their kids and housework, leaving little room for entertainment. Societal expectations exacerbate the strain. While doing nothing was formerly a popular way to kill time, modern society views this habit as wasteful and unattractive.
