Save money on child day care services now!
Child Care Services and MoneyThe average cost of child care services is 7.5% of a families income; in most states this equates to day care costs that are more than tuition at a public university! The following tips and advice can save you money now on your child care services, so read closely.
Tax AdvantagesA very easy and often over-looked way to save money on child care services is with your tax return. You can claim a federal tax credit for child care expenses on your tax return (1040 form). The federal tax credit is typically worth up to $600 for one child or $1200 for two
or more. Another very good method of saving money on child care services is through your company's flexible spending account. You can use up to $5000 per year from your flexible spending account pre-tax dollars on child care services. Of course, you must plan
your flexible spending account money wisely. If you dedicate more than you spend to child care services, you might lose that money in your flexible spending account. However, it's well worth your time of saving receipts and signing up for a flexible spending account,
since you can save up to $2000 per year using this type of account! Be careful, both the federal tax credit method or the flexible spending account method require you to provide your social security number or taxpayer ID number to your child care provider.
Share Your ExpensesAn excellent way to save money on child care services is by sharing a full-time care giver with a friend or relative. Obviously this cuts the cost of a full-time care giver in half! Of course, you should look at all your options ahead of time. Your cheapest option might
still be a child care center, since a full time care giver can get expensive. Also keep in mind, if you share the full-time care giver with friends or family, this options gives the added benefit of built-in companionship for your child. This option might also make it easier for you when it comes to dropping off your loved ones.
Other AlternativesKeep your eyes option for other lower cost alternatives to the traditional child care center and a full-time nanny. One great alternative are child care centers run by your church or local YMCA. This is a excellent form of child care services! Also, many people run child
care centers out of their home. This home child care centers are usually cheaper when compared to a large corporation. In addition, the cost might be a little more negotiable with a home care giver versus a child care center. One last alternative, although not
usually the cheapest option, but if you're looking for one-on-one care, is Au Pair. Au pair is an exchange student who works here for a year or two and is hired through an Au Pair care agency, many of which are on the Internet. The typical cost for Au Pair care is
around $1100 per month or half the cost of a dedicated nanny. Share your Au Pair care and save even more! The care won't be one-on-one anymore but if you choose your partners wisely it might be your best choice.
Most Savings IdeasIf you want to save even more, consider bartering for discounts on child care services. If you run a lawn service, maybe you can negotiate the cost of lawn care from your child care bill. Perhaps your a C.P.A., do the taxes for your child care provider and get 10% off
your child care costs. Every little bit helps when your tight on money, be creative and find ways to barter for services. It doesn't hurt to ask! With the above tips and advice you can save money on child care services now, it is only up to you find the way that's
right for you.
Help locate the best child care services for your children at
www.metrodaycare.com, the Internet's premiere child care directory.
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