Child Care Options For Working Mothers And The Unemployed

Working mothers struggle with the pull of being there for their children and the need to contribute to the household income. Child care costs can be so high that many will justify that it pays more to stay at home than work. In an economy where more women are becoming the sole breadwinner’s for their families, it’s becoming clear that taking time off to raise children comes with inherently high risks for the financial future of themselves and their households. It reduces your ability to get different forms of credit in your own name, whether payday advance loans or credit cards. It substantially impacts your earnings over time. It’s time to take a look at generating child care options that don’t cost as much as traditional day cares and can provide a way for women and the unemployed to continue gaining income and laying a sound financial future.

Multi-Generational Families

While it may not seem ideal to have multiple generations in one home, it can offer an easy way to get free day care in exchange. In the past, the older generation took care of the grandchildren for periods of time, and this can still work in multi-generational homes. It can help people who are out of work to have a source of child care that allows them to get lower paying jobs, go back to school, and schedule interviews and job fairs. The goal shouldn’t be just to save money on child care, but to use that buffer to include activities that have the potential to generate income in the future. Otherwise, you stand the chance of losing ground, even while saving money on child care expenses.

Choosing To Work At Home

Another unconventional route is to find a source of income while remaining at home. There are many types of jobs that are done via telecommuting, from freelance programmers to website business owners. You can develop your own ideal part-time job at home to supplement your income while you are still employed, and if you are laid off can shut down conventional daycare while still maintaining some hold on a career and financial future. Working at home also has the added benefits of not costing more in gas, food, and clothing expenses.

Take Advantage Of All Benefits

Check into all the potential benefits you can get to help reduce the cost of child care. Flex credits for working parents allow a parent to put money aside for day care expenses on a pre-tax basis. The funds are then claimed for dependent care and can save as much as 28% on taxes on those funds. Another way to keep expenses in check is to ask if your day care offers particular subsidies for single parents or some other demographic membership. It may seem unusual, but many social programs like the YMCA daycares do give back to the community by offering a break for people who may be within specific demographics. Not all do, and you need to ask to make sure. However, if you never ask, you’ll never know and it’s an easy way to reduce costs just for claiming the discount.