Good Lifestyle

Ask all parents who work to reach both ends: the cost of childcare services has become uncontrollable. In fact, a recent survey Led by the childcare services, aware of America, examined the expenses in 11 states plus the District of Columbia and found that in average, families with two children spend twice the cost of their rent in daycare. According to a second survey known as Brilliant horizons index of modern family , 46% of parents say that financial assistance for childcare costs would be the most useful form of support they may receive.

"Childcare is the largest element of line on household budgets today for families with children under the age of five," said Settu shah , the founder and CEO of Doula Financière , a coaching and education platform dedicated to helping new parents to prepare for parenting. "In fact, 40% of these families go into debt or plunge into their savings to afford childcare services. It is really a widespread challenge that requires changes at the national level."

Shah says that, given the enormous cost of full -time daycare services, it is important for all families to take advantage of all the profitable solutions that could be at their disposal, ideally without compromising the quality of care. These are the 10 main ways to reduce costs while ensuring that your little one is safe and supported throughout the working day.

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Since children's childcare facilities benefit from a cash flow in advance, some may be willing to offer a discount if you make your payment in a lump sum or even a full year, said Chris Urban , CFP, RICP, founder of Planning of the wealth of discovery .

"Year, I heard and seen from five to 10% given a given discount. Depending on the situation of income and cash flows of your household, it can be an interesting opportunity to save a few dollars," he said Better life.

Paying for a full -time nanny can be expensive, which is why experts recommend considering a "nanny share" in which two or more families employ a nanny to take care of their children.

"Families decide together the number of hours required and the location of care," explains Shah. She says that families can expect a potential saving of 30 to 50% compared to the use of a full -time nanny for their families only.

Cooperative daycare centers can also offer a more favorable approach to the finance of childcare services. Your child can benefit from a "executive of combined parents-teachers where parents are more strongly involved in the early learning process," notes Shah.

"Parents are required to devote a number of hours to service and teaching in childcare services (examples include lunch, planning and management of an activity, reading books, Cleaning installations, etc.).

You can potentially save 20 to 40% compared to standard full -time daycare.

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Home daycare centers also tend to be cheaper than those managed in more formal installations.

"Treatments are provided to children with the comfort of the caregiver's home. Usually, there is one to two caregivers who take care of a smaller children's ratio, and often the caregiver could be a neighbor or a friend who s 'Also occupies their own children, "said Shah.

However, it notes that as a function of size and location, savings may not be substantial. It estimates that your potential cost savings are between five and 25% compared to full -time daycare in a more formal installation.

Experts recommend looking for all children's childcare options sponsored by the employer who may be at your disposal.

"Many employers offer a full -time child care or offer subsidies to their employees for childcare services. Working for a large employer who can afford this expense could save you thousands of dollars!" Said Shah, noting that you could save 50 to 100% of the cost compared to a full -time day -to -date daycare.

Doug Roll , founder at Carrefour financial group , says that another way to save on childcare costs thanks to your employer is to use your benefits of depending on taxation available in your flexible expenditure account (FSA).

"The money contributed to these accounts is not subject to a federal income or to taxes on employment, which can lead to savings," he explains Better life.

Shah notes that, often, local churches or other religious centers will provide confessional childcare services at relatively lower costs - sometimes 10 to 25% less than hiring a full -time nanny. AE0FCC31AE342FD3A1346EBB1F342FCB

"As a rule, families must be members and / or contribute to the organization of other ways," said the family financing expert. "Families who are not affiliated to the religious center can also often have children there; however, they must be open to a denominational program."

If you have an additional place in your home, the hiring of a peer girl can help you limit the costs of daycare services from 50 to 75% compared to the hiring of a full -time nanny living in outside your home.

"This is a living caregiver who is generally from another country and has participated in the peer program approved by the federal government," said Shah. She adds that pairs in the are generally authorized to stay up to two years in the United States thanks to the program and are currently receiving a minimum weekly allowance of $ 195.75 per week, an amount established by the US government through the program At the peer.

"However, there are strict restrictions on the number of hours, pairs can work and what types of tasks they are able to take (generally, they must be limited to childcare services)," she said. "In addition, there are hidden costs: room and pension, education allowances, meals, automotive and automotive insurance, and more."

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Depending on the state and your income level, your family may be eligible for the government's childcare programs which provide financial assistance to childcare costs.

"The Federal Childcare and development funds [CCDF] helps families with low income to obtain childcare services so that they can work or follow training or education programs. In addition, some states offer free or reduced preschool programs such as Head Start and pre-K initiatives funded by the State ", Roller shares.

Shah then recommends asking for help from a retired family member or a friend who is ready to take care of your child during working hours.

"This is a great option because your children could be in someone's hands in whom you really trust. Time.

Although it can be difficult to find someone who can help every day of the week, shaving even one or two days of full child care can quickly be added to major savings.

The structure of jobs can also have a major impact on the quantity you pay for childcare costs. If the option is available for one or both parents to create a flexible, distant or part -time schedule, this would allow children to stay at home, which ultimately reduces childcare costs.

"This often comes with a sacrifice - either a reduced income, or a reduced time which can be devoted to earning more money. This could be an excellent option, however, if the cost of childcare services is more than your income to part -time ", explains Shah.

According to the income of the work partner, choosing to be a home parent is also often financially solid.