Cutting down on childcare costs

There’s a survey that says 43% of Minneapolis households spend more on their kids each month than on housing.

The trend is something financial experts say takes careful and thoughtful planning to make ends meet.

“When families add it all together, the numbers can be quite surprising,” said Dave Klein with Refine Wealth Strategies.

Klein says the 2026 planning and progress study from Northwestern Mutual shows parents nationally spend 33% more on kids than on housing, but in Minneapolis, it’s 43%.

“That 43% number tells us kid-related costs have become one of the biggest parts of a family budget,” he noted.

He points to daycare as a high cost, with Daycarecostguide.com rating Minnesota as the eighth-highest in the country.

“So daycare is taking up a large por...