Working mums forced to shell out huge sums for childcare

A growing number of working mothers are employing nannies to look after their children, but the high cost of childcare could be putting many households under increasing pressure.

Director of Babysitters and More Kate Christie said that nannies were no longer just the domain of the well-off, the Herald Sun reports.

Due to the high demand, many mums cannot get their kids into a creche and so must fork out for a professional childminder. Websites that specialise in childcare have reported massive demand for their services, resulting in the average hourly rate growing sharply, which may force more people to dip into their savings accounts.

"Some mums just can't get their children into a creche, and there's a sense of desperation," Ms Christie was reported as saying.

A recent survey conducted by ING Direct indicated that parents in New South Wales may be better placed to pay for childcare, as people in the state are most optimistic about their finances in 2012.

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