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The Daily Money: Childcare, teen cars can cost more than college; 105,000 cars recalled


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. 

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? Check Paste BN’s automotive recall database, or search NHTSA’s recall database.

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🍔 Today's Menu 🍔

What are America's finest grocery stores and butcher shops? American consumers face a staggering array of choices.

Paste BN 10Best assembled an expert panel to narrow the field and nominate the markets that seem to stand out. They selected nominees across each of six categories, covering a diverse selection of goods, friendly customer service, and basic quality. Then, readers voted on their favorites to determine the winners. (Hint: "Fresh" is in; "Whole" is out.)

Happy shopping!

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.