Containing the Cost of Childcare

By Rick Shaffer

As any parent can tell you, raising a child is getting more expensive. From medical insurance to children's clothing, life insurance to children's furniture, the costs associated with childrearing have, like most everything else gone way up! But of all the financial demands of having children, childcare is one of the most expensive.

From medical insurance to children’s clothing, life insurance to children’s furniture, the costs associated with childrearing have – like most everything else – gone way up! But of all the financial demands of having children, childcare is one of the most expensive.

Indeed, for more and more parents, childcare is now the most expensive part of raising a child. While costs can vary greatly (by region and type of care), in some areas the average cost of childcare is $500 to $800 per month, per child. In some locales, top-notch care can cost $1,200 or more per month, per child.

What can parents do to deal with this cost? In some cases, the choice is for one parent to cut back on his or her work schedule – or temporarily put a career on hold altogether – until the child begins full-time schooling. But for many two-parent households who depend on two incomes to make ends meet and for virtually all single parents, cutting back on work is simply not an option. The result: For most parents, the increasingly high cost of childcare is and will remain a difficult reality. However, there are some things you can do to help lower your childcare costs.

Daycare Centers

If you use a daycare center for your childcare needs, there are two things you can do to contain your costs. The first is simple: Make a careful schedule and keep close track of time. Many centers charge high late fees (as much as $1 per minute) if you pick your child up after the scheduled daily pick-up time. By carefully setting and coordinating your schedule or schedules (including anticipation of traffic and other possible delays), you can avoid these costly penalties.

Second, some daycare centers may cut your fee in exchange for services you provide to the center. For example, your center may lower your fee if you spend a number of hours each week doing cleaning chores at the center, preparing snacks and meals, helping with bookkeeping or even maintaining computer equipment used for administrative purposes. While this option is often limited or unavailable (since many centers look to all member parents to volunteer time to help keep costs down for all who use the center), if your schedule allows, it’s an option at least worth inquiring about.

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