The Daily Money: College isn't always the most expensive parenting tab

Parents prioritize college savings, but childcare and that first car can cost even more.

Advertisement Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Mon Sep 25 2023 Daniel de Visé | Personal Finance Reporter Happy Monday! It's Daniel de Visé with your top headlines. Parents spend those first 18 years saving for college, or trying to. But two recent surveys suggest that parents may spend even more on two expenses that hit earlier in childhood. Childcare costs more than college tuition, at least for an in-state student at a public campus, according to survey data from the lending platform NetCredit.com. Families now spend one-fifth of their annual income on child-rearing costs, according to the online lending marketplace LendingTree. Childcare costs $1,031 a year more than public college tuition, on average, NetCredit said.  And then comes car ownership. At today's prices, a teen's first car also costs more than in-state tuition, according to an analysis by the car app Jerry. A typical family will spend $11,378 a year for a teen to own and drive a new car, compared with $10,940 for a year of in-state tuition, Jerry reported.  Saving for college is a major parenting goal, but childcare and that first car can cost even more. Brianna Paciorka/News Sentinel, Brianna Paciorka/News Sentinel / USA TODAY NETWORK Car recall targets 105,000 vehicles, including Toyota, Kia and Dodge The National Highway Traffic Safety Administration recalled more than 105,000 vehicles last week, including  more than 20,000 Toyota Tundra trucks with labeling that misstates how much payload they can carry. Automaker Kia also recalled more than 83,000 Sorento SUVs over a rearview camera concern.  Chrysler is recalling 125 of its 2023 Dodge Durango Pursuit SUVs equipped with a shifter mounted on the instrument panel, because the shifter may come out of gear while driving, whereupon bad things can happen. Want to see if a recall was issued on your vehicle? 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