How Can You Minimize the Child Care Costs for Triplets?
Do you stress about how to pay for child care costs but also how to emotionally pay for leaving your triplets?
My friend Julie had triplets a few years ago. Like many moms, she looked into traditional child care at a local daycare center.
Eventually she decided child care costs were to high for her to return to her previous job. Julie came up with a way to earn some money for her family and not have to pay the high cost of child care.
How? By changing her career and creatively finding child care for her triplets.
She started a job three times a week with a flexible schedule.
Then she enlisted child care helpers for the three days. Her sister one day . . .her mother-in-law for the second . . .and another mom of multiples for the third day. She watched this moms’ kids a different day of the week.
By using different people as baby sitters she was able to pay little money for childcare.
What is the true cost of child care for triplets?
There are other child care costs to consider besides the financial cost such as emotional cost of mother and children . . .stress cost . . .even not seeing the children meet milestones.
According to Runzheimer International, the U.S. national average cost for full-time day care is $611 a month for full-time day care for a 2 year old child on weekdays.
Now multiple that by 3 and you are talking $1,833 per month!
Depending upon what you are earning, this could take most of your paycheck.
So are there ways to reduce or off set this big price tag?
Yes, there are . . .
How do you combat child care costs for triplets?
Get Financial aid: Check with your accountant. Options may include:
Websites designed to help parents dig up additional funds.
You may be able to use your employer’s Dependent Care Account, a type of Flexible Spending Account. In a Dependent Care Account you can put away up to $5,000 in pre-tax dollars for day care.
Also, for child-care expenses you pay with after-tax dollars, you can take the Dependent Care Tax Credit on your tax return.
Barter and swap:
Volunteering at your child’s day care center, donating goods or making other types of contributions.
Offer to watch your neighbors children then have them watch yours. I have seen this method work well for nurses who work the late night shift.
Have family or friends watch:
Maybe the family member still needs compensated but it may be cheaper then an actual daycare center. Plus there is added benefit in knowing exactly who is watching your children. Less stress this way.
Flex your schedules: If both the parents work flexible schedules, it is possible for child care cost to be zero.
For instance, my friend who is a nurse works Friday to Sunday 12 hour shifts at night. Her husband who is a teacher, watches the triplets on the weekends while she is at work. Although she’s tired on Mondays when she watches the kids, they pay zero for daycare.
Someone stays home. If one salary is enough to live on, then consider this option. This also provides zero child care costs.
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