Second Qtr Estimated Taxes Due June 15

Second Qtr Estimated Taxes Due June 15

JUNE 10, 2022

Pooh Bears Daycare RSS - Second Qtr Estimated Taxes Due June 15

Here’s your 2nd quarterly reminder that your federal estimated tax payment is June 15th! June 15th, is the deadline for family childcare providers to file their federal estimated tax payment for the second quarter of the year.

The second quarter payment includes the months of April and May. Third quarter payments include the months of June, July, and August, while the last or fourth quarter payment includes the months of September, October, November and December. (Note: the tax quarters for estimated taxes are not equal!)

If you are a daycare provider to determine your business profit, you will need to add up your income for April and May (parent childcare payments, and if applicable any Child and Adult Care Food Program (CACFP) reimbursements received and then subtract your business expenses for these months. Note: You will owe federal income taxes plus Social Security taxes (15.3%) on all your profits made.

It is important to note here that most childcare providers do not need to file estimated taxes (IRS Form 1040 ES Estimated Tax for Individuals) because their spouse usually will have enough withheld in taxes during the year to cover them. However, if you are single or have a spouse who is unemployed or self-employed, you likely will need to file the quarterly taxes. IRS

If you are unsure if you have paid in enough taxes for the months of April and May, it’s worth making a payment so you pay in enough throughout the year. Your goal is to have paid in at least 90% of the taxes you owe for each quarter to avoid paying a penalty, and the good news is that if you pay in too much you will get a refund at end of year.

So how do you know how much you will owe in taxes? If you were in business last year, use that information as a guide. If this is your first year in business, use 20% of your gross income (parents daycare fees paid + any Food Program income) for April and May as a conservative guess of how much taxes you will owe. For more help, on this subject check out this information at your business friend website on “How to Estimate Your Taxes in Your First Year of Business.”

You should also check your records to see if you will owe any state income taxes. If so, make a state estimated tax payment by June 15th as well. To ensure you don’t miss future filing dates set a reminder on your calendar for future tax deadlines: third quarter estimated tax payments will be due September 15 and fourth quarter payments on January 17, 2023. We hope you like Pooh Bears Daycare RSS feed.  Stop by again soon for more news.

Getting Started in the Business of Family Daycare
Getting Started in the Business of Family Daycare

Congratulations on deciding to start a business to become a family daycare!

Congratulations on deciding to start a business to become a family daycare! You are among a special group of individuals who have chosen the profession of caring for young children.  Getting Started in the Business of Family Daycare is important.  You have chosen this work because you love children. You also now have an opportunity to earn money to help support your family. Each year thousands of providers have successfully set up their businesses, and we welcome you to this caring profession.  Thank You for caring.

This post introduces important topics that every family childcare provider needs to know about to run a successful business.

Introduction: How Do You Begin?

  1. Start by Promoting Your Business
  2. Create a Contract and Operating Policies
  3. Begin Keeping Records
  4. Reduce the Risks of Your Business
  5. Manage Your Money & Plan for Retirement


How to Manage Your Money and Plan for Retirement

Learning to manage your business money is a vital skill. You need at least 70% of your current income when you decide to retire to maintain your current standard of living. Social Security will generate less than half of this amount. It’s important to save money through your own retirement investments and you can on average expect to live approximately one-fourth of your life while in retirement. Good planning ahead will make a difference.

  • Start Educating yourself about money. Two excellent books are Personal Finance for Dummies, by Eric Tyson, and Making the Most of Your Money, by Jane Bryant Quinn. You may also be able to learn more by attending classes and workshops in your local community.
  • It’s important to know what you spend your money on. For at least two months, begin tracking every dollar your family spends. Put your spending expenses in categories under two headings: fixed expenses and flexible expenses. Examples of fixed expenses include your mortgage, utilities, insurance, and any loans. Flexible expenses include food, clothing, entertainment, vacations, and so on. To make savings a top priority, set aside a savings amount at the beginning of the month as a fixed expense. Try cutting something under flexible spending if you are going to be short at the end of the month.
  • Pay off all credit card debt. If you can’t afford to fully pay off credit card bills at the end of each month, this is a sign of overspending. The money saved from paying interest on credit cards can be used towards your retirement.
  • Pay cash for all purchases. The only exceptions to this rule are the purchase of a house, home improvements, and a college education. Even try to set aside any extra money each month in a car replacement fund so that you may be able to make a larger down payment on your next car.
  • Start saving in small amounts. Some providers set aside the amount of a payment for one child as their retirement savings.
  • Remember Time is money. The sooner you begin saving the better. This example illustrates good point. Tracy and Joe are twins. Susan starts saving for her retirement at age 35. She saves $2,000 a year for ten years and earns 8% interest each year. At age 65 she will have $151,000. Joe waits to start saving until he is age 45. He saves $2,000 a year for 20 years and earns 8% interest each year. At age 65 he will have $99,000. Although he saved twice as much money as his sister Tracy, he has a third less money because he waited 10 more years before he started to begin saving.
  • Purchase insurance needed to protect yourself against any major disaster.
  • Planning for retirement is a long-term goal. Before making long-term goals, make sure you have a plan to meet your short-term goals (one to five years). Short-terms goals can include buying a car, making a down payment on a house, and so on.
  • Set up a plan to meet your regular monthly expenses if you become disabled or are out of work for three to six months. You don’t want a short-term emergency to wipe out all your retirement savings.
  • Target at least 10% of your net income (income minus business expenses) for retirement savings. If you are over 40 years old, then 20% is better if you can afford it!
  • Don’t wait until the end of the year to put money into your retirement account. Start investing a small amount each month.
  • If you don’t know where to invest your money, put your retirement savings into a money market account. This is a safe starting point and then start educating yourself and get advice about where to put your money. Don’t ever invest in stocks or bonds until you understand their risks and rewards.
  • Depending on your household and business income, you may be eligible to participate in several retirement plans. These include a Traditional IRA, Roth IRA, SIMPLE IRA and others.
Saving money and planning for retirement

Saving money and planning for retirement is not simple. But you can educate yourself about all your finances. By doing so, you will have more control over your financial future. For more information google the Internet on Money Management and Retirement planning. Visit Pooh Bear’s Daycare again soon…we’ll be looking out for you.

Freedom’s New Family Coaching Services

covid family recovery

Coronavirus

The last few years have been difficult for most people. Coronavirus has had a huge impact on the world, causing us all to suffer from many things, but fortunately most of us have gotten to the other side.

As parents, we know you have done a great job of staying strong for your children and helping them overcome a pandemic where information is limited, and the end does not seem to exist. Parents had to support them through isolation, home education, fear and insecurity, but many still do not have everything together to become whole again. Our children lacked important milestones and social events like; celebrate birthdays, graduations, proms, fresher weeks, early days at school and making new friends. Understanding that your children may feel anger, resentment, or anxiety simply because life has returned to “normal” does not mean that they are returning to these important moments in life.  Are we now damaged goods?  Time will tell but we all have more to do to get healthy once again.

COVID-19

Our relationships with children will be constantly changing forever more, you and we will not, and cannot, treat them as if they were six or seven years old. After COVID, we know all must adjust to a new norm.  We all grow emotionally and physically each differently and we now must adapt to how we communicate differently with everyone going forward.

When you think about these two points, you can understand why many teens and children are overwhelmed and why families are trying to get along.  Coronavirus has been a terrible nightmare; mask paranoia has hurt us all, and everyone may need family coaching services. 

At Pooh Bear’s Daycare, we have a solution. We listened to our friends and family who went through similar situations and decided to create a room or area in our family home daycare to provide communication services to those in need.  

These conversations are held when needed to help people cope and get answers to their questions and other things, they feel need healing ones self.  It is not advice, but rather a support service in a safe, neutral and comfortable environment where all can talk, listen and learn. We want to listen to all parties and help parents to be a source of strength for their children. We can cover topics such as family dynamics, internet safety, harassment management, self-care and social care, and more.

covid MENTAL HEALTH

 

COVID Health

We have experienced this over the years and social care for adults and children has given us the understanding and qualifications to be a great source of information and support. Our goal is to make you feel powerful with the tools / tasks that can help strengthen your family’s unity. Each family is unique, so our conversation sessions will continue to make sure you feel your support is provided along the way living after COVID. To learn more about our service, email us at info@poohbearsdaycare.com.

Holistic Approaches to Childcare and Why

At Pooh Bear’s Daycare, we pride ourselves on being able to offer a holistic approach to childcare. A holistic approach to childcare aims to help children collectively achieve their emotional, social, mental, and physical goals. This approach to childcare is a high-quality environment that cares for all aspects of a child’s development.

Holistic Approaches to Childcare and why

What is a holistic approach to childcare?

Child development research remains an important provision of an educational environment that focuses on the “connection of mind, body and spirit/sole. Taking this approach to development is less focused on the goal of academic completion and recognizes that a child’s success begins with the caregiver’s trust in the child’s individual cognitive needs. In delivering holistic childcare, children can explore, learn and grow in a safe and fun environment. Realizing that each child has different needs and maintaining a high level of individual care is an important trait to be always mindful of. If childcare takes a holistic approach, it means a low childcare setting, which is one of the characteristics of high-quality childcare where one-on-one care plays significantly.

The holistic philosophy of Pooh Bear’s Daycare goes beyond the foundations of development, structuring goals focused on intellectual-intellectual development, socialization, language literacy, discovering the arts and sciences, and developing motor skills.

holistic-philosophy

 Why should you consider a holistic approach? A holistic approach to childcare goes beyond basic childcare. It is a sensitive, caring, and individual approach that tries to meet the needs of each child in different ways.

A holistic childcare facility will take care of all aspects of a child’s life. As a result, caregivers are aware of the different ways in which children learn. It combines with a playful approach to learning because “well-trained teachers direct children’s energy into productive physical activities that combine learning fun.”

holistic-childcare

In a holistic childcare environment, each child is unique and may require different approaches to care. Some children may benefit from being active, while others are more satisfied with participating at a less accelerated pace. One child may have special needs that require special attention, while others may not easily demonstrate their educational needs. For this reason, it is important that each child receives individual attention to acquire their individual skills.

Ultimately, this type of approach can help children develop better social skills as well as stronger relationships with parents or others. Children are better able to build their self-confidence by expressing themselves in a way that is valued and accepted. The holistic approach looks at the whole child

Learning has the greatest potential when an individual child is aware of it. By focusing on all aspects of the child’s development, your able to take care of the individual emotional, physical and social needs of the child(ren). Being able to recognize is the key to creating an inclusive childcare environment where children can be the best. There are experienced caregivers who can see the needs of each child to precisely shift the dynamics of childcare and stimulate development.

A-holistic-approach-is-not-a-measure-for-all

 A holistic approach is not one measure for all

One of the most important aspects of a holistic approach is that providers are more flexible in adapting their environment to the needs of each child. Children are not placed in a solid environment but belong to one that is shaped by their interests and needs. A holistic approach to childcare focuses on all aspects of a child’s development, including:

• The child’s emotional needs can be met by using the most effective toys and learning techniques.

• The child’s social needs are met by children examining their environment and communicating with other children in a safe environment.

• The child’s physical needs can be met by a changing schedule that focuses on classroom movement as well as the best time spent abroad, if possible, the nature of the lessons.

Benefits of early holistic childcare

In the world of childcare, the term “holistic” has become a focal point of high-quality childcare facilities. “Holistic” changes to “connected” when our caregivers realize that the skills that children learned and developed in early childhood are paramount in all aspects of their lives. Developing every skill, interest and talent with a quality perspective is what drives Pooh Bear’s Daycare’s goals to take care of the child’s overall development. We hope you enjoyed reading our post on holistic approaches to childcare and why. Like this post!

Childcare
Childcare

Why Childcare is Essential When You’re Starting Your Own Business

It’s easy for parents to convince themselves they can handle everything on their own. After all, we spend so much of our time doing just that and, more often than not, it works out okay. However, it’s important to remember that stretching ourselves too thin can wind up coming back to haunt us, especially when we’re trying to reach our dreams.

That’s why it’s so important to recognize the value of childcare when starting a business. If you’re trying to build a company, now may not be the time to try and manage taking care of your little ones all on your own. Here’s a look at some tips for how to juggle parenting and entrepreneurship without losing your mind:

Outsource What You Can

One simple, effective way to make sure you get to have time with your family while you’re running a business is to outsource work when possible. Obviously, the core tasks of starting and running your company might not lend themselves to delegation. Some to-dos, however, can easily be passed to a contractor or service in order to free up some of your time and energy.

For example, if you’ve been thinking of forming an LLC for your business, consider working with a formation service. LLC registration isn’t necessarily difficult, but it can be tedious and take up a lot of your schedule. Having a service knock that out on your behalf still gets you the legal and tax benefits of the designation, but helps free up your time for more important work.

Turn to Friends and Family

Finding the right long-term childcare for your child can be a bit of an undertaking (more on this later.) In the meantime, however, you probably still want to have some sort of help. Friends and family members might be able to take your kiddos off your hands periodically while you manage your business and work on finding a long-term solution.

Remember, although your loved ones may be happy to help periodically, it’s important to avoid taking advantage of them. Make your needs — and timeline — clear, and be gracious if they’re unable to continue. Also, unless they absolutely insist otherwise, pay them! They’re doing a job for you, and you shouldn’t expect them to do it for free.

Finding the Right Childcare

There are many different forms of childcare, and they suit different families with different needs. For example, you may decide that your best option is to enroll your child in a preschool, daycare, or after-school service. These give kids plenty of socialization and typically offer fun and enriching activities. They can run the gamut, budget-wise, so you can find an option that suits your financial situation.

If you’d prefer a more personal or family-like environment, you may be able to find a small in-home daycare. These can be a better fit for a child that needs a little bit more one-on-one care, but you may feel uncomfortable leaving your child in a stranger’s home. Search through your state’s registry to find legitimate, registered sites to ensure your child’s safety.

Finally, some families will be best suited by hiring a nanny. This is often a more expensive option, but you and your kids develop a relationship with a specific, dedicated caregiver along the way. This can also be a budget-friendly option for parents that only need childcare periodically, although you may have a harder time finding a nanny who can accommodate an inconsistent schedule.

Getting the support you need to make your dreams possible is an invaluable step when it comes to starting a business. Childcare can give you the time and energy you need to make smart, effective choices and give your business a strong start.

Photo Credit: Pexels

Homeownership & Daycare
homeownership & daycare
Home Ownership & Daycare

Homeownership & Daycare

For most, owning a home is more than just having a place to sleep or having a roof over their head. It’s much more, Homeownership for some symbolizes that you have “made it” in life and have achieved the huge feat of making the American Dream come true.

Yes, owning a home today is an essential part of the American dream and it conveys several economic benefits, like having access to credit, the ability to accumulate wealth, building home equity, the ability to reduce your taxable income with the mortgage interest deduction, and finally the ability to start gaining long-term savings vice the cost of renting your residence. 

Homeownership is much more than the American dream… or is it?

Having a Home residence can indeed be an asset for family’s today and can lead one to a path of greater financial future. Yes, homeownership has many perks, however, there are some extra and unexpected expenses you much watch out for.

Novice buyers find out quickly and are shocked by the real costs of homeownership and by how much they really take out of our wallets. In addition to their mortgage payments, the true cost of owning a home and property involves a multitude of hidden expenses.

The first three homeowner costs are purely financial; the others only will add to your money woes and can cause extra stress to homeowners who are now responsible for the many repair and maintenance costs for the home. Now let’s take a look at the most common homeowner costs and how you can deal with them.

#1 Property Taxes              

property taxes
Property Taxes

Once a homeowner, you’ll need to pay property taxes for the lifetime of owning your home.  Property taxes are basically a guaranteed payment made in perpetuity at the homeowner’s expense. Although, you don’t have much say in how much your taxes are as with any tax, but you should know there are some strategies that exist so you can possibly lower them.

So be careful where you decide to live because it is not the bank that determines your property tax, it is the township, city, or county where your home is located. These taxes are considered ad valorem, which means they are assessed according to the value of your property and can easily total $500 to $1,000 or more a month.

#2 Homeowners’ Insurance

Homeowners Insurance

Homeowners insurance is not an unexpected expense for a homeowner.  Mortgage companies and banks require the insurance before they approve your loan, and the premiums are normally included in your monthly mortgage payment. Most often, homeowner’s insurance premiums like your property taxes are paid from your escrow account. Note: Bear in mind that insurance premiums can and often do, rise annually—or if you increase your coverage to reflect the rising value of your property or home possessions.

#3 HOA / Condo Fees         

HOA Fees
HOA Fees

If you buy a home residence within a homeowners’ association (HOA) or a condominium association, you will be required to pay a monthly, quarterly, or annual fees. These fees often include costs for things that benefit the entire neighborhood, like community pools, garbage collection, or snow plowing services, if your association has contracted with a private company to perform these services.

Note:  HOA fees can rise, or the association may need to charge a special assessment for projects, such as repaving the parking lot, installing a new security system, or revamping common areas or buildings in your community. 

Hidden Home Expenses – Repairs & Maintenance

The Roof

Unexpected Roof Repairs
Unexpected Roof Repairs

Water is your home’s #1 enemy, and your home’s roof primary job is to keep the water out. Homeowners must always on the lookout for a leaky roof which can cause damage to the inside of a home and, depending on how severe the leak is, can destroy your belongings inside, cause health problems from mold, or other costly structural issues.

It’s important to know, that most roof damage usually results when shingles, soffits, and fascia become loose, cracked, damaged, or are blown off by high winds. However, Mother Nature and a huge hailstorm can severely damage your roof and require repair.  Note: The home average roof asphalt shingle will need to be replaced every 15–20 years.

HVAC Systems        

HVAC system maintenance
HVAC Maintenance

Your Home’s HVAC system which controls the heat, cooling, and the circulation of air throughout the residence is not something you’ll be able to inspect, repair or replace yourself as a homeowner in most cases.

Homeowners should have their HVAC systems inspected at least once annually and budget for it as a reoccurring maintenance expense. Many companies offer service contracts and maintenance plans, that reduce the cost of an annual inspection, offer semi-annual inspection plans, and provide reduced prices on parts/service visits.

Bottom line… HVAC systems are complex and expensive, so homeowners need to perform replacing the furnace/air conditioning filters frequently to help keep the system running efficiently. 

Electrical System       

Electrical System
Electrical System

Electrical Arc faults, faulty wiring, and electrical shorts in the home MUST be corrected as soon as they are detected in the home. 

  • Fact:  Home electrical fires account for an estimated 51,000 fires each year, over 500 deaths, more than 1,400 injuries, and over $1.3 billion in property damage annually.
  • The Electrical distribution system in the home is the third leading cause of all home structure fires.
  • In the United States each year, arcing electrical faults in the home are responsible for starting more than 28,000 home fires, causing over $700 million in property damages and killing/injuring hundreds of people.
  • The U.S. Consumer Product Safety Commission (CPSC) reports that electrical receptacles in homes are involved in over 5,300 fires every year, causing over forty deaths and more than 100 consumer injuries annually.
  • Note: Sixty-five percent of home fire deaths result from fires in homes with no working smoke detectors.

Knowing these facts, its recommended that all homeowners should have a basic understanding of how your electrical system works, to always keep their home and families safe, and to understand their own limitations when electrical problems are present. Home safety should be the #1 goal of any homeowner. 

Bottom line: If the home has an electrical problem, or if you are going to do any remodeling within the home, its recommended to call the pros—who are trusted, trained, and licensed electricians to ensure your home electrical grid is installed properly and in accordance with current electrical codes and safety standards.

Other Unexpected Home Costs

Some costs are truly unknown, uncontrollable, are not covered by your insurance policy and most of the time, will come out-of-the blue as a new costly nasty surprise. Fact: Most homeowner insurance policies do not cover home damage costs that are caused by “Acts of God,” meaning you as the owner, need to purchase extra home coverage to cover the expense of your large oak tree that falls through the roof, or against natural disasters like floods, hurricanes, forest fires, and earthquakes. Additionally, water damages from huge thunderstorms and inclement weather caused by “Mother-Nature” are not covered in a basic homeowner’s insurance policy.

National Flood Insurance Program
National Flood Insurance Program

Unfortunately, this extra insurance is awfully expensive, especially if you live in a flood zone plain. Homeowners can access flood insurance coverage from the National Flood Insurance Program (NFIP), which is managed by the Federal Emergency Management Agency (FEMA). According to FEMA, the average cost of flood insurance is $707.  However, Flood insurance rates can range between $600-$1500 and vary from home to home based on several factors, including the home:

  • Coverage amounts and type of coverage (federal government or private)
  • Age and build of Home
  • Location and flood zone

Takeaways:

  • Some costs are strictly financial and beyond your control to a large extent: property taxes and homeowners association (HOA) fees.
  • Homeowners insurance can cost more than you expect if you live in a natural disaster-prone area.
  • The costliest part of being a homeowner is the costs of home maintenance, the upkeep and repairs of the roof; the HVAC, plumbing, and electrical systems.

WOW!  Homeownership is expensive…How can I afford homeownership & daycare for my children?

Homeownership & Daycare
Homeownership & Daycare Costs

Childcare costs in many cases are a main reason why some people cannot afford to buy a house.  Daycare today is ridiculously expensive.

This fact, leaves all homebuyers with less money to buy or rent a home due to the rising costs of childcare, according to new insight from Freddie Mac.

The real price of daycare has increased by 49% over the last 25 years, yet the cost of housing has only increased 14% in 25 years.

One of the major challenges, when it comes to affording a home, is the high cost of childcare. Freddie Mac analysis finds that families paying for childcare generally are left with less money for housing, says Sam Khater, Freddie Mac’s chief economist. “Specifically, we find families, on average, pay about half of the median mortgage payment and nearly eighty percent of the median rent.”

On average, a family spends $715 a month and more on daycare, which rises to over $758 when the main parent needing daycare is employed. When families have younger children, the average cost is at $948, and more a month.

In 2011, the average care expenditure for families with children under 5-years-old was 10.5% of their average income.

Families that made less than $1,500 a month who had children under the age of 15 spent an average of 40% of their income on daycare, Freddie Mac reported.

Today, Daycare is less affordable for families than it was a year ago, according to a recent Care.com survey, which showed the cost of care increased last year for two-thirds of families. According to Care.com data, the average weekly daycare cost for one infant child is $199 for a family care center, $211 for a day care center and $596 or more for a nanny.

In conjunction, the average hourly fee for a provider is $8.95 per child, so if you are looking at the medium for five days of care, family daycare services cost approximately $48.44 per day.

According to Childcare Aware of America they state that the 2020 national average cost of childcare in the United States ranges between $9,100 and $9,600 per year across all states and age categories.  At these costs that’s $758.33 – $800 per month.

Childcare Aware of America
Childcare Aware of America

Additionally, according to the Department of Health and Human Services (HHS), childcare is considered affordable if it costs no more than 10 percent of a family’s gross income. Of course, rates vary across the nation and you can see, median family income varies substantially by state – but there are ZERO states where childcare affordability meets the threshold defined by the HHS.  Click here to see the average costs where you live.

Department of Health and Human Services
Department of Health and Human Services

So based on these facts, can families really afford Daycare?  The answer by the majority is NO, but it’s a cost family’s having to bear.  The bigger question is where should you enroll your children for care?

Depending on where you live and the regulations in your state, you may see daycare facilities called any of the following names:

  • Licensed childcare home
  • Licensed group family childcare home
  • Legally exempt or license-exempt home
  • Certified childcare home
  • Registered childcare home
  • Family, friend, and neighbor care

Additionally, the rules in your state for childcare may or may not require the daycare site to be licensed. Licensed providers are required to follow a set of basic health and safety requirements. At these sites licensing agency staff visit these providers regularly to make sure they are meeting required health and safety requirements.

Pooh Bears Daycare in Manassas Park, VA recommends checking your State’s Resources website to find the licensing agency information and a provider inspection reports for your state on childcare. Additionally, when selecting a daycare provider for services, Pooh Bears Daycare professionals offer these tips.

pooh bears daycare
Pooh Bears Daycare – Manassas Park, VA

Tips for Choosing Care

Choosing Childcare
Choosing Childcare
  • When visiting a family childcare provider, ask to see a copy of the program’s license, registration or certification, and inspection history.
  • Confirm if every adult living, working, or volunteering in the family childcare home has had a comprehensive background check.
  • Ask the provider about the number of adults present while your child is there, and make sure that each staff person has received training on health and safety topics i.e., first aid, CPR, safe sleep, administering medication, and child development.
  • Ask about information and activities provided for children and parents.
  • Many family childcare centers offer rich learning environments. Ask your childcare provider to explain the types of activities they have planned and how those activities support your child’s learning.
  • Inquire about the provider’s policies and opinions on discipline, supervision, safe sleep, nutrition, child development, and age-appropriate learning for your child and what learning you may want for your children.
  • Ask for a copy of the provider’s policies and contract. These documents should cover important topics, including hours of operation, rates, fees, field trip permission slips, transportation agreements, vacations, and absence policies.
  • Consider making a list of questions and things to look for that you can take with you when visiting a potential childcare provider.
Homeownership & Daycare
Family Childcare Homes

Many families choose family childcare homes because they like the family environment and the smaller number of children. Home-based programs provide a consistent caregiver for your child, more one-on-one care, and may offer flexible hours if you need care in the evenings or on weekends. Most families with multiple children also like that siblings are cared for together rather than separated into different age groups like large daycare centers. Most importantly, family childcare homes are often less expensive than center-based childcare programs, but rates within your community will vary.

In the end, when choosing the right daycare for your children it is totally up to you. All parents want to find a program that’s convenient, open when you need it, and within their budget. But most importantly, you need a childcare program that makes sure your child is safe, healthy, and excelling at learning.

Pooh Bears Daycare providers know finding childcare can be a difficult task, but offers these tips to help:

1. Start Looking Early

Start looking for childcare as far in advance as you can. No matter what type of care you are considering—a childcare center or care in someone else’s home—finding the right childcare option can take some time.

2. Get Informed & Call

After narrowing down your childcare options in your search for daycare call the provider.  Use resources like ChildCare.gov to find any resources and assistance you may qualify for.  Consider calling local experts—that can give you the additional facts about childcare in your area and a list of childcare options that may meet your needs.

3. Visit & Ask Questions

Visit the childcare programs you are considering, and don’t be afraid to ask questions!

4. Make the Choice

Think about what you saw at each visit and make the best choice for your child and family based on your needs, values, and budget.

5. Always Stay Involved

After finding care the work isn’t over when you find good care for your child. Building a strong relationship with your provider will help your child’s learning and development. Always look for ways to exchange information about your child and have conversations about the providers caregiving and about your child’s learning.

Budget for Childcare Costs

Budgeting for Daycare
Budgeting for Daycare

So how do you find the money? Most must find ways to reduce their costs by looking for everyday ways to save, like cutting the cable at your house. That can usually free up $150–200.  You can scale back on going to restaurants and the local drive-thru convenience. Consider limiting the family to eating out once a week or even twice a month and see how much you can save. Things like subscription services can be cut i.e., the gym membership, food magazine subscriptions, and the wine of the month club.  These budget cutting examples can save hundreds of dollars a month but may be necessary when having children and needing daycare.

Cutting the Cable Bill
Cutting the Cable Bill

It goes without saying, but your budget really needs to support whatever childcare option you pick and can afford.  Having a family and children today is costly.  Most family’s have a budget but when children are born additional budget cuts are necessary to help free up extra cash. But remember, these will have to be permanent budget cuts for them to work. And by permanent, it means the cuts are necessary if you have kids who need childcare.

How do you pay for daycare if you can’t afford it?  Seek Government Assistance Programs. There are federal and state childcare subsidies, also called vouchers or fee assistance, that may help families who can’t afford childcare. You can find more state resources here

Government Assistance Programs
Government Assistance Programs

Facts are that one year of childcare costs more than the average price of in-state college tuition.  So, if you feel like daycare prices are out of this world expensive, you’re not going crazy—you’re right!  Today everything costs and with more families having both parents in the workforce than ever before, the need for childcare and its cost will continue to grow. According to a 2016 study by the Bureau of Labor Statistics, both parents work in 61% of married couples who have children.

Don’t Feel Guilty

You don’t need to feel guilty for being a working parent.  Most parents today need to work outside of the home, and that is okay!  It’s important to remember to don’t look at what you’re leaving behind. Focus on the importance of what you’re doing while at work.  It’s OK to clear your mind and focus on your job tasks for the day. However, when you’re at home after work, it’s time to soak up that valuable time with your family and be fully present in the moment with your child(ren).

Remember It’s Only a Season

Childcare is one of the biggest costs for families in the United States today outside of homeownership and its hidden costs. It’s important to know what resources are available to help with childcare costs no matter where you live.  There are lots of financial assistance programs that offer help in paying for childcare. Due your diligence and check out any options your family may qualify for. 

At the end of the day, remember that you won’t pay high daycare prices for the rest of your life. Unlike Homeownership costs with 30 year mortgages, property taxes, and expensive maintenance costs, childcare costs eventually will end.

1st Day of Kindergarten
1st Day of Kindergarten

It’s been said to consider childcare costs like a season, and it will soon pass. But, before you know it, your children will be in all day school.  And, at that time, you might even feel like you just got a huge raise when you don’t have to shell out money for costly childcare every month!

Do you still want homeownership and think you can’t afford childcare? Think again. You may believe it’s too expensive for your family, but once you explore your options and establish a good budget plan you might be surprised. 

Homeownership & Daycare
Home Ownership & Childcare

Share this:

Like this:

Like Loading...
%d bloggers like this: