A survey by the Irish Independent shows the bill for having a child minded can be as high as €1,100 per month while the average mortgage repayment stands at €913 per month.
This survey found that creche fees for one child are more expensive than mortgage payments for most families.
The childcare bill can be as much as €1,100Â per month compared to €913 for mortgage repayments.
That is the average cost for parents in the key child-rearing years of 25-44.
The cost of childcare can rise to as much as €2,000 per month for two children regardless of whether you use a creche or a childminder.
And with the International Monetary Fund (IMF) now urging the government to begin means-testing child benefit the survey found that thousands of working parents face the prospect of quitting work altogether in an effort to save money on childcare.
Meanwhile a separate KBC Bank/Irish Independent survey has found that parents are cutting back on their own personal spending in order to meet back to school costs.
It now costs around €540 Â per household to send a child to school taking into account uniforms, books and other ancillary costs.
