Childcare Choices, Costs, and How to Make a Plan (and a Backup Plan, Too)

Christina Eaglin: [00:00:00] Are you getting a nanny? Are you getting an au pair? Are you getting a daycare center? Is it licensed? [00:00:05] There’ are so many choices. A lot of times it’s like, “Ah, we’ll figure it out after maternity leave or [00:00:10] paternity leave.” Oh, no. You need to start planning that now.[00:00:15]

Jennifer Borget: Welcome back to A Better Way to Money. [00:00:20] I’m Jennifer Borget. In our last episode, we talked to Neha Ruch about taking a pause [00:00:25] from your career to focus more on family, but we know that’s not always possible or even [00:00:30] maybe what you want. So, in this episode, we’re diving into the world of childcare for [00:00:35] working parents.

According to the Economic Policy Institute, full-time childcare now [00:00:40] costs more than college tuition in many parts of the country, anywhere from [00:00:45] $15,000 to over $40,000 a year, and that’s before the backup [00:00:50] scrambles, the career hits, and the mental load that nobody put on the budget [00:00:55] spreadsheet. Today’s guest is Christina Eaglin, author of Who’s Watching My Baby?, [00:01:00] a guidebook she wrote built across 20 years of navigating every childcare [00:01:05] arrangement imaginable while building her own career. Looking for a simple way to start planning this [00:01:10] yourself? Download our free Family Finances workbook at [00:01:15] northwesternmutual.com/podcast.

All right, let’s go. So, Christina, you’ve built a [00:01:20] career in media; you raised two daughters, largely on your own, after a [00:01:25] divorce; and you’ve cycled through nearly every childcare arrangement that [00:01:30] exists.

What sent you from media executive to childcare expert?

Christina Eaglin: [00:01:35] When I was in media, I had a lot of strategic planning and [00:01:40] logistics and managing, and I noticed that there were a lot of parallels with childcare[00:01:45]—that if you’re hiring somebody and onboarding them, you want to vet them, you want to [00:01:50] make sure they’re the right fit for the group, for the culture, the whole nine yards.

And I was [00:01:55] able to translate a lot of those skills into every kind of childcare, as you [00:02:00] mentioned, and know the pros and the cons of each one and lessons learned. [00:02:05] And that really, really helped me in being able to help other parents who I [00:02:10] saw get blindsided, either financially or on the job or with their [00:02:15] kids having emergencies and things like that, and how they reacted to it, how they planned [00:02:20] for it financially.

So, I really translated a lot of those executive skills into becoming [00:02:25] a childcare expert.

Jennifer Borget: And this is something that I feel literally [00:02:30] affects every parent, just about every parent. According to Northwestern Mutual’s [00:02:35] 2026 Planning and Progress Study, a third of parents with a child at home expect to [00:02:40] spend more on childcare than their rent or mortgage. Yet more parents are working [00:02:45] than ever, which you’d think would drive more affordable options, so why do you think costs keep [00:02:50] climbing?

Christina Eaglin: Well, here’s a sad truth: Post-COVID, there was a lot of [00:02:55] shifting in the environment for childcare. A lot of centers didn’t make it, so they shut down. [00:03:00] And then with that shutdown, you’re now decreasing the amount of places that [00:03:05] you can put your child, if that’s what you want.

And then if you want in-home, there became [00:03:10] very strict regulations on the au pairs. And let me tell you, childcare is [00:03:15] labor intensive. It takes a lot. You also had subsidies that the [00:03:20] government was giving, and then those subsidies went away. Some of [00:03:25] those daycare centers, they didn’t make it, so that gave us less options to choose from.

Because [00:03:30] now where we had all these daycare centers, we have people leaving them, we have them closing, [00:03:35] we have them not being able to stay afloat because they’re losing their subsidies. And then [00:03:40] just in general, things have gone up with inflation. So you put all [00:03:45] that—it’s the perfect storm, really. You know, it’s not a double whammy, it’s a quadruple whammy.[00:03:50]

It’s just a really, really difficult time right now in daycare, [00:03:55] and that’s why it’s really important what type of solution that you choose, whether it be in-home, out-home, [00:04:00] licensed, unlicensed. It’s really tough, and it’s a lot more expensive than it [00:04:05] used to be.

Jennifer Borget: What are parents underestimating when they try to budget for childcare? [00:04:10] And how does that shortfall ripple through the rest of the family’s budget in real life? [00:04:15]

Christina Eaglin: I think what parents are underestimating is they think that [00:04:20] childcare is kind of like a line item. Check it off—we got childcare. Just check it off: We got the [00:04:25] groceries, we got the mortgage. And childcare isn’t like that.

That’s only half [00:04:30] the equation, that line item of what it’s going to cost you. There’s also a mental toll that [00:04:35] childcare is going to take. Who’s the person who’s going to research the backup plans? Who’s [00:04:40] the person who’s going to know what immunization records are up to date? Who’s the person who’s going to [00:04:45] have that one sheet on a shared drive for everybody to know Here’s the pediatrician, here’s the [00:04:50] allergies, here’s the thing.

There’s a lot that goes into it. It’s not just a [00:04:55] financial cost; it’s also a mental toll. And I’d like to say it’s not a [00:05:00] lifetime sentence. It feels like it when you’re in it, but it really, really isn’t. It’s [00:05:05] only four to five years. You can do it. You just have to do it strategically.

Jennifer Borget: Yeah. [00:05:10] I’m like, “Four to five years, is that really it?” I guess if you have one kid, but if you stagger them [00:05:15] out like some people, it could be a little bit longer.

Christina Eaglin: You know what? You’re right.

Jennifer Borget: Yeah. [00:05:20] I didn’t think of that. That’s true. It really [00:05:25] starts to feel like OSS, but there is an end. I have three kids; I [00:05:30] can confirm they do eventually grow up, and you do stop paying for childcare. [00:05:35]

Christina Eaglin: Yes. And then they leave.

Jennifer Borget: Yeah, and then they leave. Or if you stagger them like mine, some of your older kids [00:05:40] help with babysitting when you want to get out every now and then.

Christina Eaglin: There you go. [00:05:45]

Jennifer Borget: A lot of couples, they go into parenthood fully [00:05:50] intertwined, finances together. Maybe they have shared accounts, shared bills, shared goals, [00:05:55] but when a child enters the picture, sometimes that starts to get [00:06:00] complicated fast. So, what does that actually look like, and where do things tend to [00:06:05] break down for couples that you’ve seen?

Christina Eaglin: Again, I think one of couples’ [00:06:10] biggest mistakes is thinking, “Oh, it’s just a transactional item,” you know? No, it’s [00:06:15] really not. You really have to be strategic about “How are we going to afford this? Are [00:06:20] we saving money for childcare?” I actually recommend that parents try to [00:06:25] live off of one income even before they get pregnant, just to kind of feel that [00:06:30] pinch of what it’s going to be.

Or if that’s too stringent, then estimate what [00:06:35] those childcare expenses in their part of the world are going to be, and then just put that [00:06:40] away and don’t live off of it, and do a three-month run of it and see [00:06:45] how that’s going to feel. How is that affecting your groceries? How is that affecting your entertainment? How is that [00:06:50] affecting your mental status? All those types of things.

It’s something that I think [00:06:55] parents aren’t really thinking about. It’s like, “Ah, we’ll have a baby; it’ll be great. We get a daycare; it’ll be [00:07:00] great.” But there’s so much more to it, and there are a lot of pros and cons to each kind. Are you [00:07:05] getting a daycare center? Is it licensed? Is it unlicensed? Are you getting a nanny? Are [00:07:10] you getting an au pair? Are you sharing an au pair and a nanny? Are you having one live in your house? Are you [00:07:15] having one live out of your house? There are so many choices, and I think that they [00:07:20] don’t think about that before they’re pregnant, and even when they’re pregnant, a lot of times it’s like, “Ah, we’ll [00:07:25] figure it out after maternity leave or paternity leave.” Oh, no. You need to start planning that now. [00:07:30]

Jennifer Borget: That’s probably surprising to a lot of people. [00:07:35] I’ve heard of waiting lists at some places, and then you have to probably consider [00:07:40] things like sick days and if the daycare’s closed and you still [00:07:45] have to work.

Or one thing that we dealt with a lot was our odd schedules. Both worked weekends, [00:07:50] and daycares weren’t open on weekends, so we had to find other options for [00:07:55] those days and things like that. But that takes a lot of mental load.

Christina Eaglin: [00:08:00] It is. And one thing that’s really good, I think, is sitting down on the weekend, like maybe Sunday night, [00:08:05] and looking at the week ahead, looking at your schedule, looking at your partner’s schedule, and just [00:08:10] deciding, “Okay, Monday, Wednesday, if something goes left, you got ’em. [00:08:15] Tuesday, Thursday, something goes left, I got ’em. And then every other, we’ll take [00:08:20] that Friday.”

And then also having people in your pocket who you can call [00:08:25] on if you can’t go when you get that 10:00 a.m. “Little Johnny’s got a fever; [00:08:30] you’ve got to come pick him up right now.”

Jennifer Borget: Yes. I like that [00:08:35] idea of “All right, let’s make our backup plans, sitting down together and [00:08:40] figuring this out,” because that’s true. It’s like, “Oh, I did it last time. You did it.” But knowing which [00:08:45] day you’re on call, so to speak, in case something goes down, [00:08:50] that’s a really good tip.

So, for parents who are barely keeping their heads above water [00:08:55] right now, what does saving actually look like in this season?

Christina Eaglin: In this [00:09:00] season, you might not want to put away so much for retirement. For this [00:09:05] season, you may want to see, Can we live off of one of our paychecks? Or can we [00:09:10] estimate what childcare is going to look like?

Plus, say, 10% for the [00:09:15] shoot budget that comes up. There could be supplies, there could be application [00:09:20] fees, there could be field trip fees. You never know. Can we just squirrel that [00:09:25] away for at least three months and not touch that money and have a childcare [00:09:30] slush fund? This isn’t the emergency fund. This isn’t the vacation fund. This is not your living [00:09:35] expenses fund. This is your childcare slush fund. Can we just put [00:09:40] that money—all the money I’m making, because we can live off of you, or if we can’t live off of you, [00:09:45] then all the money that we estimate (and I just conservatively say [00:09:50] plus 10%)—put that in that slush fund? Do it for at least three [00:09:55] months, and see how that feels.

And then once baby comes, you obviously can’t put all that money [00:10:00] in there because you need the money to pay, right? But you do need to decide [00:10:05] what’s going to be good for you to put in a slush fund. Because maybe one of your backup [00:10:10] plans, as I had, was an in-home daycare center. [00:10:15] If the nanny was sick, I drove him down the street to Mary Ann’s house and put him there, but I had to pay [00:10:20] Mary Ann for that. And I’m still paying my nanny, who is at home, but [00:10:25] I also have to pay another one to watch them because the in-home nanny is now sick.

So, [00:10:30] there are all those types of unexpected expenses, which is why I [00:10:35] say the 10% is always good to have. And how a couple decides on if it’s going to be a [00:10:40] 50/50 or if it’s going to be by ratio of who makes however much money if you make [00:10:45] 50% more than I do, that is a very personal decision. They will need to have that [00:10:50] conversation. And my thing is, have these conversations before you’re pregnant, because these [00:10:55] can make massive differences in the peace of mind in your household. It can be very volatile, as [00:11:00] you know.

Finances can be a real hot topic. And understanding [00:11:05] who pays what and being okay with that is key to just keeping the peace. [00:11:10]

Jennifer Borget: Everyone tells you kids are expensive, but hearing it and living it [00:11:15] are two different things. Between the doctor bills, the clothes, the [00:11:20] activities, and childcare as a fixed monthly expense that doesn’t budge, it [00:11:25] adds up faster than most families are prepared for.

And when the budget is stretched thin, [00:11:30] saving starts to feel impossible. That’s exactly the kind of planning where a Northwestern Mutual [00:11:35] financial advisor can help change the game. They help families look at the full [00:11:40] picture—your income, your protection, your long-term goals—so the decisions you’re [00:11:45] making now around childcare are connected to where you want to be in 10 or 20 years.[00:11:50]

Coming up, Christina’s going to talk about the conversation she wishes more families had earlier [00:11:55] and the specific financial traps new parents tend to fall into. Let’s bring her back in.[00:12:00]

So, when couples are sitting down, let’s say they’re having this conversation, what do you [00:12:05] think is the most common thing that they end up getting wrong in their [00:12:10] assumptions about childcare?

Christina Eaglin: I think a lot of times—I hate to say this, but [00:12:15] I really think a lot of times, it’s like, “Oh, it’s the woman. She’s got to do it.” But in this day [00:12:20] and age, hey, guys, you’ve got to be cooking, you’ve got to be cleaning, you’ve got to be changing diapers. [00:12:25] We’re working just as hard as you are. We’re not doing the pumps and the apron anymore like the [00:12:30] 1940s and ’50s.

So, I really think that that burden needs to be shared. I [00:12:35] think it needs to be talked about so that couples don’t get into fights. And to the [00:12:40] extent that you can avert a lot of those and say, “Okay, we know this is going to [00:12:45] come up. Let’s figure that out.” For instance, let’s say your parents are in town, [00:12:50] and while they can watch the kids, we don’t need daycare. Well, it might be really important to have a [00:12:55] coffee, sit down with those parents, and manage expectations.

I’m getting up to [00:13:00] nana age, and I’m not going to be a full-time—I will watch them, [00:13:05] but trust and believe I will be taking my cruises. I will be going on vacations. [00:13:10] I’ll be there in emergencies 100%. I’ll go to the end of the moon for my [00:13:15] children. But I think sometimes people have unrealistic expectations, and you just have to make [00:13:20] sure; you don’t want to have a riff in your family over childcare. That would just be so sad.

Jennifer Borget: Right. [00:13:25] That’s good insight for us to remember. Now, I know you include [00:13:30] your actual tools in your book: pre-screening questionnaires, interview [00:13:35] guides, reference check forms. What would you say is the single most important question that a [00:13:40] parent should ask a prospective childcare provider that most of them never think to [00:13:45] ask?

Christina Eaglin: Well, it depends on the type of childcare. So, for instance, if you’re going [00:13:50] into a daycare center environment, you might want to ask for that [00:13:55] contract way before you’re ready to sign it so that you can look at it and read it [00:14:00] and see what the hidden things are.

So often these days, we agree; we just click the [00:14:05] agree box, and we don’t really know what we’re agreeing to. So, I would say that that’s [00:14:10] really important. Another one—I know you told me just one, but I’ll give you two. Another one is [00:14:15] “What is your turnover rate in the last 18 months?” I don’t want to put my child into a [00:14:20] place where there’s a high turnover rate.

And you know what? I’m going to go for a third [00:14:25] one, the state licensing. If you’re in a daycare center, you want to go to your state licensing board and [00:14:30] you want to see if there any citations. Are there any non-compliance? Are there multiple ones? [00:14:35] Did they get shut down? All these things are things that you don’t know that you can and should [00:14:40] look into.

And that’s just for daycare. So now, if it’s a [00:14:45] nanny situation or somebody like an au pair coming in-home, things you might want to ask [00:14:50] them: What do you do for fun? What type of TV shows do you like? What’s [00:14:55] your favorite movie? Because that’ll tell you a lot about a person. And if you get [00:15:00] somebody telling you, “I like Halloween and Cujo” and all those [00:15:05] crazy things, that might not be your person.

But: What brought you into [00:15:10] childcare? Why did you decide to be a nanny? How long have you done this? These are [00:15:15] the kinds of questions that we have, as you mentioned, in the questionnaire, and they really, really [00:15:20] pull out a lot. And those are just two different styles [00:15:25] and two different questions that they should be aware of. There’s a lot more, but those are real good ones, [00:15:30] I’d say.

You can’t go wrong with those.

Jennifer Borget: Yeah, those are great. It helps you get to know the person really fast. [00:15:35] If it’s a nanny situation or a childcare center, maybe bring up some red flags that [00:15:40] you didn’t think about, especially that turnover question.

Now, I know you’ve seen families where the [00:15:45] childcare arrangement worked beautifully and others where [00:15:50] it’s fallen apart. I don’t know if it’s a personality thing or what you dealt with. Where [00:15:55] does the planning most often break down in what you’ve seen?

Christina Eaglin: Screening, [00:16:00] screening, screening. It’s all in the screening and including your children. If your [00:16:05] children are verbal, kudos. Bring them into the interviews. [00:16:10] Bring them into the centers. See what the vibe is. If it’s [00:16:15] going into a daycare center, let’s say, are the kids happy? I met [00:16:20] with a director one time, and we got interrupted, and this woman had paint and grass stains [00:16:25] all over her. I’m like, “This is the place to be.” She was all in with the kids.

[00:16:30] And the kids were healthy. And I’ve been to another center where I see runny noses and kids sneezing [00:16:35] and touching things, and the sanitation wasn’t great. No, no, no, no, no.

So, there are [00:16:40] so many things you just have to know and look at: How are things situated? Are the [00:16:45] toys old and dirty, or are they new and fresh and clean? Is there kid artwork [00:16:50] around, or is it all buy it from the store, slap it up on the wall, just get the buck [00:16:55] that you can make from daycare?

A lot of people, unfortunately, may try to [00:17:00] just make it a money profiting thing and not do it for the passion and the love of taking care of a [00:17:05] child. It takes a special person, and every parent can attest to this. Sometimes I would run [00:17:10] to the office on Monday mornings. It takes a special person to be with a child that [00:17:15] long at young ages.

Jennifer Borget: That is a really good tip. Yeah, I remember my daughter one [00:17:20] time, we went to a daycare, and I was so excited because it was close to our house [00:17:25] and pretty affordable.

She did get a, really quick that maybe should’ve been a red flag. I don’t know. [00:17:30] But she told me that they were mean and [00:17:35] lammed her on the ground. She is almost 16, and still to this day, when [00:17:40] we drive by that daycare, she’s like, “I hated that place.” She was there maybe [00:17:45] a week. I did take her out.

But yes, that’s [00:17:50] so true to bring your kids and involve them and ask them how it was, listen to how [00:17:55] it went.

Now, you mentioned this earlier, that you might not [00:18:00] be the grandma or the mimi who takes your grandkids in all [00:18:05] the time. Not all the time. It’s going to depend, situation by situation. But let’s [00:18:10] say there’s a new parent, and their parents or in-laws are nearby. Do you have any tips on bringing [00:18:15] that topic up to your parents?

Christina Eaglin: Oh, yeah. Transparency all around. And nine times out [00:18:20] of 10, Jen, parents are going to be like, “I’m there. I’ll watch them” if [00:18:25] they really, really want to do it. And other times, they might just want their kids to figure it out [00:18:30] and let them know.

But yeah, I think I said something about just sit down and [00:18:35] have that coffee with them, and talk about expectations, screen time, [00:18:40] discipline. These are for older kids, like if it was after school, obviously.

You want to have [00:18:45] those kinds of conversations with them. Hours, expectations. Are you going to pay your parents? I [00:18:50] have one of my nannies, she is now a grandmother, and she nannies for her [00:18:55] grandchildren, but they pay her. Some people get paid for it, and [00:19:00] others don’t, so it, again, depends on what their financial situation is. They may not need to [00:19:05] be paid. In other cases, it might be really nice to pay them to help them to make those [00:19:10] ends meet.

Really talk to them about ... what can you do? Can you be on my [00:19:15] backup list? Backups for backups for backups for backups. You’ve got to have a [00:19:20] million of ’em. And if you can get all four on board, that’s a slam dunk.

Jennifer Borget: Those aregreat [00:19:25] questions. I know I’m still a ways out, but I’m like, “Yes, I want to be there. I want to be there. I’m already going to be [00:19:30] there.”

Christina Eaglin: I know. I just want the toes, you know? I want to be able to do it all [00:19:35] over again and then hand the kid back. You know?

Jennifer Borget: Exactly. You have a clock; you have a [00:19:40] timer on there.

Christina, in past episodes we’ve talked about some of the tools available to help [00:19:45] save for retirement, like 401(k)s, Roth IRAs. But when it comes to [00:19:50] planning for the financial reality of childcare, what kinds of things are out there?

Christina Eaglin: Excellent [00:19:55] question, Jen.

There is a dependent care FSA. [00:20:00] If people’s employers are participating in that, they [00:20:05] can literally reduce their tax burden. I think it’s about $7,500 [00:20:10] per household, but don’t ask me because I’m not a financial expert, but they can go [00:20:15] there to the website and see. And what’s really good are these are pre-tax dollars. It’s [00:20:20] like your 401(k). You’re not going to get taxed on this money. You’re going to be able to bring more money [00:20:25] home in your paycheck and get reimbursed.

Now, having said that, [00:20:30] it will not reimburse for or cover, say, a dependent. If you have a [00:20:35] 17-year-old child who you pay to watch your five-year-old, it’s not going to cover that. But [00:20:40] if it’s somebody who’s not a dependent and lives in your home, it will pay for that. It [00:20:45] will pay for your nannies, your au pairs. It will pay for after-school programs and [00:20:50] things like that. It’s not going to pay for dance classes, and it’s not going to pay for [00:20:55] extracurricular activities for little Johnny, but it does cover a lot, and you’ve got to [00:21:00] exhaust that.

Jennifer Borget: When can you sign up for that? Just in open enrollment or any time?

Christina Eaglin: You can’t [00:21:05] sign up just any old time for this FSA dependent care. Much like health [00:21:10] insurance, you have to have enrollment during your open enrollment season [00:21:15] or a life-changing event. So those are the two times that you can sign up for it. Certainly having [00:21:20] a baby is a life-changing event, and open enrollment, we all know, comes around every fall.

Jennifer Borget: And [00:21:25] when you’re having another baby, I know that can make a big difference.

Christina Eaglin: Ooh. You want to save every dollar you can because those [00:21:30] diapers are expensive. Let me tell you, mine are 24 months [00:21:35] apart, and you got that right. I had them both in daycare at the same time. [00:21:40] I mean, that really doubles. And to speak about that, so now you have a [00:21:45] second baby on the way, and you have one in daycare. Do you pay a double daycare, [00:21:50] or now is it time to bring someone in the home? Some of those benefits are you’re [00:21:55] not doing the running around the house, getting the diapers and the bottles and the wipes and [00:22:00] everything packed in the morning—and getting your makeup on. (Hopefully not with half an eyeliner, you know?) [00:22:05] And to go rush ’em off to school or to the daycare [00:22:10] center. But when you have somebody in-home, it’s really nice because the babies can sleep, and you can [00:22:15] kiss them goodbye on your way out the door, and they just have such a nicer, to me, [00:22:20] experience.

But then, of course, and there’s the social activities, which is a whole other thing, but [00:22:25] there are ways to do that, too, by having somebody in the home and being able to take them out and have them [00:22:30] socialize with other children as well.

Jennifer Borget: I know you said your kids are getting older. Mine [00:22:35] are as well. I remember being in the childcare thralls, just like, [00:22:40] “Ugh, this is a lot.”

But you’ve talked about how this is just a season. It’s [00:22:45] not forever, even when it feels that way sometimes. Do you have any advice [00:22:50] for families who maybe feel like their childcare system that they’ve just kind of strung [00:22:55] together isn’t really working out for them? Where do they start in reworking that?

Christina Eaglin: [00:23:00] Figure out your point of failure, I guess, and figure out what’s not working. And if it’s [00:23:05] a daycare center or daycare provider that you just feel is toxic, or they’re [00:23:10] exceeding boundaries that you’ve established, and you aren’t feeling [00:23:15] that revamp, take a step back. Decide what type [00:23:20] of childcare you think at this point can best serve your needs.

For instance, [00:23:25] Emily, my oldest, started in a daycare center, and it was great, but when I had two, [00:23:30] then I brought them both into the home. It’s really what’s going to [00:23:35] work well for our household, what’s going to make sense, and that’s how I [00:23:40] would approach it.

Jennifer Borget: Christina, for parents who are stretched thin financially right now, we [00:23:45] want to leave them with a takeaway that they can do this week that maybe moves the [00:23:50] needle for them.

Christina Eaglin: I would leave them with “Do a childcare [00:23:55] audit.” See where you are currently in your childcare. Is it working? Is it not [00:24:00] working? Where is it not working? Look for your vulnerable spots, like [00:24:05] is it backup plans? Do you have backup plans? If you don’t have backup plans, that [00:24:10] might be something you could do this week is to just put a list together of [00:24:15] having at least three people that you can count on, that if something happens [00:24:20] and you or your partner aren’t able to get the child, they can get that child for you.

Is [00:24:25] it between the 3:00 to 5:00 period with school-age children? Figure out some [00:24:30] solutions that you might be able to take care of. A lot of times schools will have some after-school [00:24:35] activities. I’ve done that. I’ve also done the kung fu, where they [00:24:40] bring the bus there and they pick up the kids and they take them to learn kung fu and karate and all that kind of stuff, [00:24:45] and that really helped that gap after school and before I got home.

Jennifer Borget: All right. Thank [00:24:50] you so much, Christina. You’ve given us so much wisdom, hopefully given parents lots of hope [00:24:55] on this isn’t forever. It’s just a season.

Christina Eaglin: Yeah, not a lifetime sentence. [00:25:00] You can do it. If I did it by myself, you can do it.

Jennifer Borget: That’s Christina [00:25:05] Eaglin, author of Who’s Watching My Baby?

The takeaway is simple. The childcare [00:25:10] decisions you’re making right now aren’t just logistical. They have a real impact on your [00:25:15] long-term financial health. The earlier you treat them that way, the better off your family will be. And when you [00:25:20] have a plan, you’re not scrambling every time a new expense hits. That alone [00:25:25] takes an enormous amount of stress off the table.

If you’re ready to work through your own family’s [00:25:30] finances—childcare, income planning, protection, all of it—grab Northwestern [00:25:35] Mutual’s free Family Finances workbook at northwesternmutual.com/podcast. And [00:25:40] if you liked this episode, check out two more from our archive: season one, episode seven, [00:25:45] “Kids and Money,” and season two, episode four, on taking parental leave. We’ll link [00:25:50] them in the episode description.

Next [00:25:55] time on A Better Way to Money ...

Michael Norton: If I buy something for myself, I feel great in the moment. It’s [00:26:00] just that it doesn’t last. But when we give to somebody else, that’s the thing that in the longer term [00:26:05] seems to lead to more happiness.

Jennifer Borget: We talk a lot about how to manage money, but [00:26:10] Harvard professor Michael Norton has spent his career asking a different question: Does the way [00:26:15] you spend it actually change how happy you are?

Turns out, yes, and the answer has [00:26:20] real implications for how you build a financial life. That’s next time. Tap follow on your [00:26:25] podcast app so you don’t miss it.

Northwestern Mutual is the marketing name for Northwestern Mutual [00:26:30] Life Insurance Company (NM) and its subsidiaries, including Northwestern Mutual Wealth [00:26:35] Management Company (NMWMC), investment advisory services and federal [00:26:40] savings bank. NM and its subsidiaries are in Milwaukee, Wisconsin. Not all [00:26:45] Northwestern Mutual representatives are advisors. Only those representatives with “advisor” in the [00:26:50] title or who otherwise disclose their status as an advisor of Northwestern Mutual Wealth Management [00:26:55] Company (NMWMC) are credentialed as NMWMC [00:27:00] representatives to provide advisory services.

Christina Eaglin and Who’s [00:27:05] Watching My Baby are not affiliated with Northwestern Mutual, and the views expressed by Christina Eaglin [00:27:10] do not necessarily represent those of Northwestern Mutual or its subsidiaries.