How to Lower Your Childcare Expenses

Posted: February 15, 2018 at 7:41 pm by Skip Kelley

Although your kid(s) are the light of your life, love alone doesn’t pay the bills – but wouldn’t it be nice if it did? With the average childcare expenses ranging anywhere between $13,000 to $20,000 per year it seems that it’s more expensive than ever to raise a child these days. Unfortunately, many households don’t have the luxury or the financial security to rely on a single-income. That means that both parents need to work, but the children still need to be cared for.

  1. Family First: In my world, family always comes first. And although it’s not likely that a family member is able to take on a full-time babysitting gig for you, you can certainly attempt to have them help with you with 1-2 days per week. Part-time childcare is a lot less expensive than full-time and will help offset some of those steep prices.
  2. The Neighborhood: Neighbors can be a terrific resource to rely on so long as they’re trustworthy. If you know someone in the neighborhood who might work different hours than you or is already staying home part-time/full-time to watch their own kids, there might be an opportunity to drop your kid(s) off a couple days a week.
  3. Change of Career: Many parents think that they’re able to figure out a better solution than having to put their careers on hold to take care of their children. Nowadays, the workplace is changing and there are so many more opportunities to work remotely. With this flexibility, you can still earn an income while not having to dish out upwards of $20,000 for childcare expenses.
  4. Au Pair?: Have you ever considered hosting an Au Pair? In many cases, hiring an Au Pair can be more cost effective than hiring a nanny. Many young, certified Au Pair’s are from a foreign country and can be a great addition to your family if you have an extra room in the house.
  5. Childcare and Development Fund: In certain cases when a family or single parent has very low income or has a child with special needs, the government does have assistance programs in which you can qualify for funds based upon your income, child’s age and or status. If you fall into any of these categories, be sure to check out the assistance programs.

Whether it’s your first or fourth child, bringing a child into this world can be a “head-spinner.” Juggling time with family, money, stress and work is not always a “cakewalk” and can be downright exhausting. But before you go into panic mode, always know that you do have options. If you find yourself in a pickle or you just need a little bit of guidance before deciding, don’t hesitate to give me a call. I’m here to help in any way I can.

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