As I have mentioned the last few weeks, it’s back to school time. For families with older children, the basic expenses are taken care of in one big chunk at the beginning of the year. What about families with young children? Not even close. I recently read that people are paying close to double their mortgage for child care. Have you ever wondered what you can do to help lower those costs? Here are 5 ways to save on childcare costs.
5 Ways To Save On Childcare Costs.
- Create a budget-Sit down and account for all your spending. Are there things you can cut out or cut down to free up some extra money in your budget? Once you know how much you can spend a week or month on child care, you can start looking around.
- Shop around-Write down the tuition for each day care you are considering. Then write down the pro’s and con’s of each. This should help narrow your search down.
- Talk to your employer-Check with your HR department and see if they offer childcare reimbursement.
- Shift your schedule around-See if your employer would let you work less days if you put in so many hours in so many days. For example, would they let you work four 10 hour days instead of five 8 hour days? Could you and your spouse work it so you are on opposite shifts so someone is always home to be with the kids?
- Work from home or start your own business-There are lots of companies that hire remote workers like Amazon, Capital One, and Enterprise. If working for yourself is more appealing, draw on your talents and what you like to do. You could start a business freelance writing, being a virtual assistant, or another creative pursuit like making gift baskets. Sure you may still need child care but hiring a reliable babysitter for a few hours a day is a lot cheaper than a week at day care.
These are just 5 ways to save on childcare costs. If you are able to implement just one, you can be assured peace of mind and a fuller wallet.