HomeChild CareHow to Save on Child Care
Posted in Child Care on 1st January 2011

How to Save on Child Care

Many of today’s working parents have no choice but to place their children into child care.  The cost of child care facilities can be astounding.  Some parents pay up to ,000 each year for a private nanny or for a high-quality daycare center.  As a result, nearly all parents are looking for ways to save on the costs of child care.

First, you can start by thinking outside of the box.  You might consider bartering for child care services.  Offer any of your professional skills, such as accounting or public relations, in exchange for a discount on child care costs.  You might be surprised to discover how many people are willing to barter their services.  This works especially well with baby-sitting, since you can offer to return the favor for another parents by watching his or her child in exchange for them caring for your child for a night. 

Another good way to save on child care costs is by asking friends and family members for their help.  Even if they can help just one day or one night per week, this can help to significantly reduce the costs.  You might offer to pay them a small fee for their services or at least offer to pay for their expenses, especially if they must travel to care for your children.  Parents with older kids can also use their eldest child as a baby-sitter to save money. Similarly, there might be other responsible children in the neighborhood who are willing to baby-sit at a reduced cost to what you would pay at a child care center.  Make sure that you ask around to see what might be available to you. 

One savings that many parents are not aware of is the child care tax credit.  This allows working parents to use up to 35 percent of their child care costs on their taxes.  It is important that you consult a tax professional to be sure that you are using this credit appropriately. 

Use these simple tips to start saving on your child care costs today.

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