Saving Money on Child Care: 6 Tips New Parents Need to Know

The price of childcare is high across the whole country, and the average rates can be enormously burdensome in places like Washington, DC (nearly $1900 a month) and Massachusetts (just over $1400 a month). If your employer offers Dependent Care Flexible Spending Accounts, you can pay for daycare and other childcare options using your pre-tax money, saving up to $5000 a year. If you have an understanding employer or family who are willing and able to help, it can give you more options for arranging lower-cost options for childcare.

Key Takeaways:

  • I’m the U.S. Capital of Washington DC, infant childcare costs can average as high as almost 2000 dollars a month.
  • Move south to less elitist areas and the cost can still break the bank, with some Kentucky parents paying more than 500 dollars a month in day care costs.
  • Some employers offer flexible FSA accounts, wherein parents can allocate as much as 5000 of their pre-tax dollars.

“The price of bringing that baby into your life is massive.”

Read more: https://www.fatherly.com/love-money/saving-money-on-child-care-tips-for-parents/

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