When Daycare Costs Go up
Daycare is not
cheap, and for many couples, it is a huge
financial burden. However, they happily bear it for two reasons: firstly, there
is often no other option and secondly,
they feel it will give their child a head start when formal schooling begins.
Unfortunately, the cost of everything keeps going up and daycare is no
exception.
Parents try their best to accept the cost increases, because they do not want any compromise on the quality of the daycare due of lack of funds. Nonetheless, a day will come when another increase is just too much for parents to accept and bear. Should such a situation arise, you should explore options that would help make daycare affordable yet.
You may not indulge in expensive luxuries, but there may still be a few ways of saving money. For example, are there subscriptions that you can do without? Sure, they make life more comfortable, but isn’t daycare more important? How about the weekly pizza? Can you do without it? Once you are sure of where you stand, you can decide on the next course of action for a way out.
Talk to the daycare
Talk to the daycare management to see if there is any wiggle room in the recent increase. If not, explore the possibility of reaching some sort of compromise. For example, if you have the time to be of some assistance at the daycare, would that compensate for the amount of the increase? Alternatively, – this could be an unwelcome move – could you pay half the increase now, and the other half in a few months when you will have more money available?
Check if your employer has a flexible spending account option
A flexible spending account (FSA) is one into which you can deposit money every month to cover recurring healthcare costs. The amount you put into the FSA is tax free and so you can save some money. It may then be possible to use that money in the account to pay for daycare. Check with your employer if an FSA option is available and if so, the expenses covered.
Think about a part-time job
It may sound impossible – you are in over your head at work already. Yet, talk with your partner. If you work together and are on the same page, you will surely find a way to reset responsibilities and domestic duties; one of you could find some extra time to earn some more money. There is a ton of part-time work available – house cleaning, ride share driving, waitressing in the evenings and so on. Alternatively, you could look for freelance work you can do from home.
Find a more affordable daycare
You know how hard it was for you to find the current daycare; the thought of starting the whole search process again to find a more affordable one can be frightening. Don’t let it get you down. There are reliable resources available on line that can help you find good daycares in/near your area; you can get in touch with them quickly and conveniently. Changing a good daycare is not the ideal option; but if you have to, do not hesitate to accept the next-best alternative.
Parents try their best to accept the cost increases, because they do not want any compromise on the quality of the daycare due of lack of funds. Nonetheless, a day will come when another increase is just too much for parents to accept and bear. Should such a situation arise, you should explore options that would help make daycare affordable yet.
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Review your monthly expenses
You may not indulge in expensive luxuries, but there may still be a few ways of saving money. For example, are there subscriptions that you can do without? Sure, they make life more comfortable, but isn’t daycare more important? How about the weekly pizza? Can you do without it? Once you are sure of where you stand, you can decide on the next course of action for a way out.
Talk to the daycare
Talk to the daycare management to see if there is any wiggle room in the recent increase. If not, explore the possibility of reaching some sort of compromise. For example, if you have the time to be of some assistance at the daycare, would that compensate for the amount of the increase? Alternatively, – this could be an unwelcome move – could you pay half the increase now, and the other half in a few months when you will have more money available?
Check if your employer has a flexible spending account option
A flexible spending account (FSA) is one into which you can deposit money every month to cover recurring healthcare costs. The amount you put into the FSA is tax free and so you can save some money. It may then be possible to use that money in the account to pay for daycare. Check with your employer if an FSA option is available and if so, the expenses covered.
Think about a part-time job
It may sound impossible – you are in over your head at work already. Yet, talk with your partner. If you work together and are on the same page, you will surely find a way to reset responsibilities and domestic duties; one of you could find some extra time to earn some more money. There is a ton of part-time work available – house cleaning, ride share driving, waitressing in the evenings and so on. Alternatively, you could look for freelance work you can do from home.
Find a more affordable daycare
You know how hard it was for you to find the current daycare; the thought of starting the whole search process again to find a more affordable one can be frightening. Don’t let it get you down. There are reliable resources available on line that can help you find good daycares in/near your area; you can get in touch with them quickly and conveniently. Changing a good daycare is not the ideal option; but if you have to, do not hesitate to accept the next-best alternative.
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