Before you have kids, you always hear about the costs of raising them. Often things like clothes, food, boarding, and medical expenses come to mind. It’s not until you actually have a child and start to research child care expenses that you truly realize what you’ve gotten yourself into. Forget college tuition, the cost of child care is enough to make any parent recoil in a fetal position. According to a recent ChildCare Aware of America report, in most states it costs more to send an infant to a day care center than it does to send a teenager to public college.
The average annual expense for child care in the United States is $18,000. And it can be much higher in regions such as New York City, West Los Angeles and Washington D.C.
But take heart. With some careful planning, flexibility and a little imagination, most people find a solution that’s right for their family and their budget. The key is to think about which type of environment is ideal for your child and if it’s financially feasible. You may need to employ a little creativity and flexibility to make it work. Here are some of the options.
In-Home Care
By far, the most ideal situation is to leave your child with a trusted family member, both for budgetary reasons and peace of mind. There’s also something nice about knowing that your child is cementing family bonds. But with careers taking families to far-flung places, most people aren’t fortunate enough to have this as an option.
The next best thing to family is having a caring, attentive nanny look after your child in your home. The advantages of this arrangement are numerous – the convenience of not having to pack up your child every morning for day care, the comfort of leaving your child in your own home, and the flexibility of having somebody there if you need to work late.
But these conveniences don’t come cheap. According to Care.com, the average weekly cost of a nanny is $477, and can be significantly higher in certain cities (as much as $15-$20 an hour). The other problem is finding a good one (either through agencies or word of mouth), screening them, and dealing with sick days and vacation schedules.
A cheaper option to consider is an au pair. The U.S. State Department issues education/work visas for au pairs, or college-aged caregivers from foreign countries who work for and live with American host families. In exchange for room and board, au pairs must take six years of accredited college courses in the U.S. and are required to care for your children 45 hours a week.
In addition to having to feed and board somebody, costs range from about
$12,000 to $17,000 per year, including agency fees for background checks, training, and a weekly cash stipend that families pay directly to the au pair.
Day Care Centers
Day Care Centers are licensed facilities with a professional staff that provide group care to young children. Most accept infants as young as six weeks old. One advantage of day care centers is that they give your child numerous opportunities for social interaction with various age groups. It also typically offers structured activities to encourage learning and age-appropriate development. And because it’s fully staffed, there’s never a problem with a caregiver calling in sick at the last minute.
Although this option is cheaper than hiring a nanny, the cost differential disappears once you enroll a second child. According to Care.com, the average weekly cost of a day care center is $188.
Family Day Care
Another popular child care option is Family Day Care, in which providers care for a small group of children of varying ages in their home. One advantage of this arrangement is that kids are in a home setting with fewer children compared to a large day care center. There’s also the benefit of having a consistent, primary provider for your child.
On the flip side, home-based care is far less regulated than day care centers and many states don’t require a family day care to be licensed until it’s caring for a certain number of children. It can take some effort for parents to attain a provider’s safety record and background. Home-based care can also be less reliable than a center, which has backups, say, for sick employees.
However, at a $144 a week on average, a reputable licensed family day care can be a real cost-saver for families.
Although you don’t necessarily want to bargain hunt when it comes to searching for child care, it’s important to remember that more expensive doesn’t always mean better. Ultimately, it really boils down to the relationship between your child and their caregivers, as well as your comfort level. Give yourself plenty of time to explore options since many facilities have long waiting lists. You could also consider creative arrangements such as nanny sharing or babysitting coops.
Whatever you decide, you’ll probably be surprised and comforted to learn that most children can thrive in any environment with plenty of age appropriate stimulation and an attentive, caring adult.
