American parents with young children say they haven't felt this financially insecure in nearly a decade. Here's why.

• The Federal Reserve published its Survey of Household Economics and Decisionmaking this week.
• The percentage of parents with children under 18 who felt "financially okay" declined.
• It's the lowest percentage since 2015. Skyrocketing childcare costs are likely to blame.

The financial well-being of American parents with young children is plummeting, highlighting how unaffordable childcare costs have become.

The Federal Reserve published its annual Survey of Household Economics and Decisionmaking on May 21. The survey, which collected answers from 11,000 people in October 2023, examines the economic well-being of US households and potential financial risks.