JACKSONVILLE, Fla. — So many people are stuck at home right now, so many may not need childcare. For those who still have to use the service, however, you know it’s one of the biggest expenditures in any family’s budget.
Here are some tips to make sure you’re saving the most money while getting the best care for your child.
1) Make sure you’re talking to your HR rep at work
There are so many small things that are in the back of those annual benefits re-enrollment packets that companies give out. Make sure you’re paying attention to things like dependent care flexible spending accounts, or FSAs.
If it’s all a little fuzzy, your HR representative at work can walk you through it all.
Most FSAs let you put money away in an account, PRE-tax, to use on things like childcare. There are annual limits to this, but using this pre-tax money would give you that marginal tax rate discount on your daycare spending.
2) Try church or faith-based child care
In many cases, these facilities have good rates and are also more flexible working with you on payment plans.
3) Ask for specific, job-related discounts
Especially right now, during this pandemic, many childcare facilities are offering huge discounts for first responders, nurses, doctors and those on the front lines fighting coronavirus.
But even if you’re not one of those types of workers, it never hurts to ask.