Tuesday, March 26, 2013

4 Ways to Cut Child Care Costs


Child care can be one of the greatest expenses for parents with young kids, yet for many it’s a necessary service that can’t be avoided. If you’re having trouble balancing the expenses of putting your kids in care, there are a range of options available to you. Here are 4 simple ways that you can start reducing the cost of child care for your kids. 


Shop Around
You wouldn’t buy the very first car you look at, so why do the same with childcare? Compile a list of the childcare centres in your area and start calling for quotes. Don’t be afraid to ask if they are willing to beat a competitor’s quote to gain your business. Make sure you factor in the cost of the commute and impact on your time for centres that are further away. 


Apply for Flexible Hours
Many workplaces understand the strain that childcare can place upon parents, and may allow you to tailor your hours to better suit your kids. As long as you have the opportunity to make up the hours, you may be able to create a working pattern which allows you to cut down on your childcare costs. Share a Babysitter Teaming up with friends or neighbours to hire a nanny or babysitter for your kids can be a significantly better investment than the cost of childcare. The benefits are that your children will be professionally looked after with individual care and attention, which can sometimes be overshadowed in busy care centres with large numbers of children in each group. 


Work from Home
Working from home might seem like a dream for most parents, but with enough drive and determination you can make it happen. Whether you create your own business or look into some form of freelancing work which you can do from home, the benefit of staying home means much less spent on childcare.

Before you decide to quit your job and start working from home, you need to make sure your financial situation is secure. Consolidating any outstanding debt or credit cards that you have should be your first priority. Set up a free consultation with a reputable debt solutions agency such as Fox Symes to ensure that you are starting your new venture without the stress of outstanding debt.

Keep in mind that if you are working from home, you may still need someone to look after the kids occasionally while you have meetings, client appointments, or simply need a few hours to focus on your work. Ask your friends and neighbours if they have older kids who might be able to look after your children for a few hours, it can be significantly cheaper than hiring a nanny.

Cutting the cost of childcare can significantly strengthen your financial position and reduce stress. If you’re still finding it hard to make ends meet, talk to the professional consultants at Fox Symes debt solutions to work on debt solutions that will see you in charge of your finances once more.
Written by Emma Jane

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