Saving With 6abc
Saving with 6abc: Childcare
October 30, 2013 (WPVI) -- Statistics show the average middle-class family will pay almost $300,000 to raise a child over 17 years. Here are some ways to safely and happily cut back on childcare!
Many companies run their own childcare services at a much lower cost to employees. You save on commuting costs! If not, consider using the child care center some of your colleagues use so that you can carpool or share resources. You could even try to ask for a discount at the facility.
Flexible Savings Account
You might be able to pay for childcare through an employer-offered flexible savings account (FSA). You can contribute up to $2,500 tax-free per family and use that money for childcare.
The Federal Child and Dependent Care Credit will reimburse 25-35% of your childcare expenses incurred in order for you to work or look for work. The credit pays out up to $3,000 a year for a single child, or $6,000 a year for two or more.
If getting a child care isn't working out when you work solo trying to set it up, see if you can set something up with neighbors and friends. You can try doing a nanny share with other families. Or set up a co-op with several families so that you all pitch in watching the kids.
Much of this information came from Nerdwallet.com, and you can find more information and ideas there.
lifestyle, children, saving with 6abc
Also SeeStory:Coupon codes: Check here before you checkout
More:Get the Latest Saving with 6abc Tips of the Day
- This is now Philly's 2nd snowiest winter 1 min ago
- Get the 6abc StormTracker app
- WATCH: Action News Online
- Sign up for Facebook Flash!
- Family of injured Harrah's racer sues casino
- Snow plow overturns on I-95 in Delaware 33 min ago
- Co-pilot spoke missing plane's last words 43 min ago
- Obama announces sanctions against Russians 50 min ago
- Earthquake strongly felt across Los Angeles
- Police: Driver, who hit pedestrian, hit by car
- Photos: Suspects wanted by Philadelphia Police
- Photos: Suspects in Pa. 'street-level' drug sweep
- Video: Swan attacks elderly woman in Berks Co.
- Photos: Pictures from Phila. St. Patrick's Parade
- This is now Philly's 2nd snowiest winter
1 min ago
- Co-pilot spoke missing plane's last words
43 min ago