My wife did home daycare for 20+ years. Some great kids and parents, plenty of not so great too, but they all got the best care bar none.

She did it because she loved kids. 

Gross income looked great, net not so good. Long hours, difficulty getting time off, inspections, and regulations finally took a toll on our family life.

Her retirement was the best thing, even though her income is 0. 

Yep a grand a month is expensive, but by getting a licensed, experienced Provider that is raising your child to be a well mannered and prepared kindergartener is worth it. 

Over the years we have seen the adult kids and parents and it was worth the sacrifices WE made so that your child was well taken care of.

If you can't afford care, there are programs to help cover costs. Although over the years several families abused it. 

If you still can't afford it, you shouldn't have children yet or you're going to be a stay at home mom/dad.