Child Care - Saving Money Tips

[jeffrey]

1) If your employer allows, participate in a child care flexible spending account. This is a special account that the Internal Revenue Service (IRS) created that allows you to set aside money for child care expenses with pre-tax dollars. You ask your employer to take out a certain amount of money each month from your paycheck and you can use this money tax free for child care related expenses.

2) Inquire to see if your company has partnerships or offers discounts for certain child care provider services. Companies will sometimes negotiate discount plans with local child care providers to help offset child care costs.

3) See if your public school district offers a half day pre-kindergarten program for 4-year-olds. These programs are usually free and by signing your child up, it will reduce your child care needs to a half day from a full day.

4) If your employer allows flex hours, job sharing or telecommuting, you may be able to use these to juggle your schedule and cut your child care costs.

5) If both you and your spouse work, see if it's possible to arrange your work schedules so they overlap as little as possible. This will allow you to reduce the number of hours your child has to spend at child care.




6) See if there is a relative that can help with child care.

7) Consider hiring a nanny and sharing the cost of child care with a few good friends. This will allow you to pay less individually for child care costs and the nanny will make more overall.


For a list of child care resource and referral agencies, you can visit the Child Care Aware website which is a nonprofit organization that helps parents find quality child care in their communities.

[DannyGBWI]

Swap babysitting with neighbors. There are a lot of parents out there who are quite willing to swap babysitting nights, saving you the money of hiring a babysitter for an evening out. A few families even take this to incredible extremes. Try to find another set of parents or two that you trust, and swap nights of babysitting with them. That way, you’ll get occasional evenings free without the cost of a babysitter.

[irmanator]

considering the price of gas, the amount of taxes, the amount of things you pay someone to do because you don't have time and you may find it is cheaper (and better) to stay home and watch your kids yourself and maybe babysit someone elses.

[jerminix]

You must save for food first, then plan on what you buy first whether it is a need or only a want, you must decide before you buy something

[WiseOwl]

I think you are right irminator,

and there is nothing better for the children than a loving parent!

[manageME7]

Parents should try to handle the financial issues related to upbringing of their kid. Certain factors to be kept in mind are:

-Pay your debt before the baby is born
-Find extra source of income
-start saving some percentage of your income on regular basis
-try to take advantage of certain child benefit schemes
-go for health/disability insurance

Life is so simple, do not make it difficult. Just try to manage yourself and give your kid the best in life.

[maryannsms]

It is always advisable to carry out as much research as possible, it will give you confidence before you proceed. After all, you want the best child care experience for your child. So that you are not worrying all day when you are at work you need to feel comfortable with your decision. But whichever child care you go for I am sure your baby or child will thrive and be very happy.