RALEIGH, NC — As children prepare to return to school this month after summer vacation, the cost of child care continues to worry parents.

According to financial experts, raising a child in North Carolina can cost two working parents $21,000 a year.

According to financial expert Wes White of Patriot Wealth Management in Raleigh, overall costs continue to rise due to inflation, which affects everything from housing to groceries.

“One of the biggest expenses for families is child care. It has become so expensive that the average cost of child care for a child in every U.S. state is more than rent,” he said.

According to White, housing, food and childcare are the three things parents spend money on most when raising their children.

On average, parents spend about 33 percent of their income on housing, he says.

“Grocery is another major expense. Families spend anywhere from $975 to over $1,500 per month on food,” White said.

White says there are ways to support your children besides giving them money. He emphasizes teaching them good money management skills and encouraging them to create their own financial plan.