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We’ve all felt the pinch of a tightened economy, and families with small children have been hit particularly hard. If the cost of food and gas doesn’t get you, child care is going to be an expense that hits hard every month.
Some tips for help with child care expense.
- Share the load with family members or neighbors. Chances are if you live in a neighborhood that has kids, there are people in your same situation. If you have a neighbor that works a different schedule than you, perhaps you can juggle the situation to avoid hefty child care expense. Everyone understands the difficult financial times and moms, grandmas, and nieces and nephews can either help, or help you sign up for assistance from Plain Green Loans.
- Explore your company resources. Does your company offer a child-care flexible spending account? The IRS allows you to set aside money, via pre-tax dollars that help with child care. Does your company offer discounts to certain child care providers? Does your company offer flex hours, job sharing or telecommuting? If you don’t ask questions, you’ll never know. Companies understand the difficulties of raising a young family, and many have taken steps to help.
- What does your local school district offer? Some school districts offer a half-day pre-kindergarten program for 4-year olds. It might not be much help if you have three children under the age of five, but remember, every little bit helps.
- Work schedules that work. It may not be ideal, but maybe it’s time to consider shifts for mom and dad that don’t overlap. Not being able to spend much time together is a sacrifice many people are not willing to make, but the ultimate reward may be the difference between bankruptcy and securing your financial future.
How will you handle child care?
