Working moms often invest a huge amount of their earnings for child care. With the increasing numbers of working moms childcare centers or organizations are also demanding a high pay forcing many of them to search for alternatives.
Here are few best ways to save money on childcare.
- Search for financial help from employers: Few employers offer assistance to their employees in taking care of their children. Help can be offered in the form of childcare vouchers or childcare services.
- Childcare vouchers: Using these vouchers parents can purchase childcare needs for a fixed amount every week. Parents have to pay tax if the amount offered through vouchers exceeds certain limit.
- Childcare services: Few large-scale employers offer childcare services at a place close to the workplace. In majority of the cases, the services will be offered free of tax.
- Trade with the childcare center to offer services: If you possess any specialized skills such as accounting that the childcare center can use then trade with them. Talk with them in such a way that you would be offering part time services for them and in return request for a concession in your childcare costs.
- Search for help from family members: If you have aged aunt and uncle pair who can take good care of the children then seek their help. In return pay for any of their expenses like grocery, gas etc. This will not only save you money but you would also be of great help for them.
- Share with neighbors: If you have neighbors with children and searching ways to reduce childcare costs then a best solution is to help each other. Take turns in taking of the children. This would not only save money but would also be of great fun for children to play with each other.
- Start your own childcare center: If you have the art of handling children and confident of offering flawless services to them then quit the regular job and start your childcare center. This way you can take care of your own child, save child care costs and make money. By offering high quality services at a slightly lower price than the competitors would definitely get you more business.
- Know if you are eligible for childcare tax credits: Few governments offer childcare tax credits to employees working for sixteen hours or more. Through this service you can claim up to 80% of your childcare costs. However, you have to use government registered childcare centers or nannies.
- Work from home if possible: If you posses skills such as computer programming, writing or editing or accounting then pursue a job right from the comfort of your home. This way you will not only save childcare costs but will also enjoy the happiness of taking care of children on your own. Even the child can enjoy your warmth and love.
- Managing the working hours: If possible parents can manage working hours so as to take care of children in turns. This may not totally save you childcare costs but will save you a lot.
Lastly, in an urge to save on childcare costs do not choose cheap services. This can put your child at risk.