Ways To Save on Childcare in 2010

2010 February 22

by Carolin Soldo

In this economy, people are becoming more resourceful about their childcare. Some families are forced to fire their nannies for lack of funds. Some families can’t afford to have a full-time nanny anymore, but can’t afford not to. Here are some ways to save on childcare without sacrificing your own job or earnings.

Nanny Share: What it is: Nanny share is when two families split the cost of a nanny. How to do it: Nanny share is the most ideal when two families already are familiar with each other, live close, have children of similar ages, work similar hours, and have similar models of discipline, philosophies of parenting, and/or dietary habits. Make sure to type up an agreement with the family you are sharing a nanny with and include the terms of the arrangement (including whose home will be used primarily, how much TV time is allowed, etc.).
Babysitting Co-ops: How it works: Everyone that belongs to a babysitting co-op starts with x-number of points. For each hour someone baby sits, that person gains one point per hour; each time that person uses a babysitter within the co-op, he/she loses that number of points. Babysitting co-ops are basically just even trade groups, usually formed from a network of mom friends or playgroup mothers in need of a few extra child-free hours in their week. If you can’t find a babysitting co-op in your area, start one. Sites like meetup.com and babysitterexchange.com allow you to start your own online community and find sitters that way. Other ways to start a co-op is by asking moms you feel comfortable with in your church, playgroup, or preschool to start one with you. The most important thing about choosing whom you’ll swap sitting with is that you feel comfortable leaving your child in that person’s care.
Enlist the help of family: More and more families are using grandparents, cousins, aunts, uncles, and other family members to help with the childcare. If the relationships are there and they are positive, use them.
Use neighborhood children as “mother’s helpers”
Work from home: This isn’t possible for everyone, and depending on the ages of your children, it may be impossible altogether. But consider shifting some of your work to your home when your spouse is home to watch the kids instead of the childcare provider. Those few extra hours could provide savings.
Negotiate a new work schedule: You’ll never know unless you ask. Unless you are in an occupation that does not offer flex time and you therefore already know the answer will be “no,” consider asking your boss if you could adjust your schedule to one that works with your spouse to minimize the number of hours your childcare worker is employed during the day. For example, maybe you could go in at 7a.m. and leave at 3p.m. while your spouse could go in at 10a.m. and work until 6p.m. If this works, you’ll only need childcare for five hours of the day instead of the standard eight to nine. It may only be a few hour difference, but it’s savings you’ll be thankful for.
Barter with your nanny for services: Instead of using cash, perhaps you could trade a nanny’s services for something that you are an expert in. You can always work this as a partial trade if your services are not of equal monetary value, or if they are do a true trade. Make sure to have a signed agreement if this is the option you choose, just to ensure that neither party feels cheated.