Child Care Costs: How to Find Affordable Child Care?

There are many couples with dreams of having a big family. Unfortunately, before this dream is realized, couples must put pen to paper and weigh the cost of starting a family. Children are expensive. This is to be expected. While potential parents are able to handle everyday expenses such as food, clothing, and diapers, affording weekly childcare can be financially draining.

With the high cost of living, dual income families are practically required. On the flip side, the high cost of quality child care forces many women to become stay-at-home-moms. While some women gain much pleasure and satisfaction from staying at home and rearing children, other women enjoy working, and want to return to the workforce.

Because middle class families are often stuck in the middle, they must find creative ways for affording child care. High income families can afford care for their children, and low income families are eligible for various programs to assist with child care expenses. Before taking out a home equity loan or settling on substandard child care facilities, consider the following options for affording child care.

� Child Care Reimbursement: A large number of employers have begun offering child care tuition reimbursement. While some companies only offer a partial reimbursement, something is a lot better than nothing. In some cases, this child care option is unadvertised. Thus, employees must take the initiative and inquire about reimbursements. If applying for new employment, attempt to find companies offering child care assistance with the benefits package.

� Make Good Use of Tax Return: Households with children will likely receive a nice tax return. Rather than waste the money on shopping sprees or vacations, put aside all or a portion of the funds to pay for child care.

� Claim a Child Care Deduction: If your employer is unable or unwilling to offer child care reimbursement, claim a child care deduction on your annual tax return. By utilizing this option, you can save thousands on your taxes, and receive a hefty return.

� Use a Family Member: Sometimes, grandparents and other family members are eager to baby-sit for a small fee. If a sibling, cousin, or aunt is a stay-at-home-mom, they may be willing to offer assistance and baby-sit free of charge. In turn, you must be willing to show your appreciation by watching their children for a weekend or overnight.

âÂ?¢ Flex Schedule: Some dual working households include moms and dads with alternating work schedules. For example, the father may work 7am – 3pm. Once he returns home, the mother works from 4pm – 10 pm, or so forth.