The Cost of Childcare

2 Feb

  Source

Child care is anything but cheap, lets start with that, however there are many factors that affect what it will cost you.

  • Where you live (city & state)
  • The child’s age and requirements – the younger and needier the more it will cost
  • Hours of childcare per week needed
  • Type of child care

Look at the total cost of child care which is inaccurately calculated by too many families.

Stay at home moms will save the cost of childcare at a local daycare facility, but this is at the expense of losing their prior salary earnings.

Working mothers will need to get several price quotes for childcare of their choice and then calculate the monthly / yearly cost and realize that  their wages have stayed the same however their buying power is lower because they have an additional childcare bill each month. Also, account for a higher gas/diesel bill monthly as you will be making 2 extra stops per working day (drop-off & pick-up) choose a facility close to either your home or work so it minimizes driving time and cost.

The average cost of center-based daycare in the United States is $11,666 per year ($972 a month), but prices range from $3,582 to $18,773 a year ($300 to $1,564 monthly), according to the National Association of Child Care Resource & Referral Agencies (NACCRRA). Parents report higher costs – up to $2,000 a month for infant care – in cities like Boston and San Francisco. Source

Choose wisely if you have multiple children that are very close in age sometimes it maybe cheaper to have someone come into your house and take of your children. You can only make an informed decision if you know all your options:

  • Childcare facility (Child Care Resource and Referral (CCR&R) agency can help you find a location) call (800) 424-2246 or their website
  • Nanny ‘s or Au Pairs (yes their is a difference Au Pairs must live in your home with a private bedroom, these are sometimes more affordable options if you have several young children close in age) – its not just for the rich many dual income families use these services
  • Your church’s daycare facility: if you attend a church you will often find their daycare services are often more affordable because it’s a ministry of the church vs your local independent daycare
  • Family or Friend: do you know someone you trust that needs some extra $, then see if they’re willing to watch your child maybe at their home while you work (its a great way for a stay at home mom to earn extra money)
  • Consider bartering services (you may think this sounds antiquated but I have known people who did this and it worked), this works well for the self- employed often (get creative prepare a free tax return, do monthly financials, free weekly lawn service,  just define what it is and sign a document agreeing to the babysitting & bartering service)

This is a lengthy discussion so I am going to post a follow up to avoid any confusion and discuss more details


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