For a massive 41 per cent of us, childcare costs match our mortgage or rent payments, and 25 per cent of parents have actually got into debt because of the cost of childcare.
In poorer households, 50 per cent of mums and dads admit they have to cut back on food to pay for childcare.
Sally Copley from Save the Children commented on the findings, saying: 'The recent cut to the working tax credit has only made this worse with many parents realising they are no better off working, and they and their children remain trapped in poverty.'
A spokesperson for the Department of Work and Pensions said: 'Ministers have always said that, under universal credit, they will invest at least the same amount of money into childcare as in the current system.'
Do you struggle to pay high childcare costs? Have you had to stop work as it makes no financial sense for you? Share your stories below...