I called it my placeholder job

And if we are being honest, that was being generous.

Friends,

I’ve been thinking a lot about this lately.

Despite being a business news anchor at a top global news organization, I was literally at break even when it came to paying for childcare. We paid our nanny a fair wage, paid her taxes and all the appropriate insurance. Add in the cost of commuting, wardrobe and other expenses that come with a high pressure job, plus the fact that I was taxed at my husband's higher tax rate, and when the paycheck came, it wasn't earning much for my efforts.

But I kept going. Why?

Well first of all I loved my job. I was around some of the smartest, and most accomplished journalists there are, and I was interviewing top business and economic leaders.

Even though I wasn't netting much cash at the time, there were also financial reasons. First, I was contributing to a 401(k) and getting a generous match. That money has grown substantially in the 17 years since I became a parent. I also was able to advance in my career and get promotions and raises—something that would not have happened if I had left the workforce in 2007. I also had access to a really good health insurance plan for my family, along with other corporate benefits and perks.

That's why I advise parents to consider not just the math of today, but also the math of many tomorrows to come. Then make a thoughtful and intentional decision that is right for you.

But here's the tough part: On a relative basis, I was fortunate to be break even—for many parents it is MORE expensive to stay in the workforce. Even if the math of tomorrow is enticing, they need to pay their bills today.

I truly appreciated the wise and insightful comments of Anne Hedgepeth Child Care Aware of America in this segment with NewsNation's Anna Kooiman and myself. We discuss the very real challenges facing the country and I share some specific ways we can save on childcare while improving our own selfcare.

Please watch the segment and then share your thoughts on the state of childcare in the U.S.

Here are some tips to keep in mind:

• Fitness centers are a parent’s secret weapon. Many offer free childcare while you work out. But you can use the time to meet a friend, or get some work done too!

• Check in on your company’s benefits on a regular basis. They often add and adjust benefits for parents. And don’t be afraid to make suggestions for new benefits!

• Make sure you are getting every single tax break you qualify for each year including using your domestic flexible spending account.

• Not a parent? Be a friend and offer to help a parent out. Offering to babysit is great, but even coming over and helping out while they are making dinner—or make the dinner for them so they can do homework with their kids—is a true friend move.

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Many of your employees at work are likely trying to figure out the balance between earning a paycheck and paying for childcare. They may just need a platform to ask their questions, get real-time advice and help them with the decision making.

As always, we are here to bring financial wellness programming to life for your teams through our in person workshops or virtual Q&A sessions. Let’s talk about how we can work together.

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