American families spend over 18% of their income on childcare.
Author: Anne Pistone
Saturday, October 26, 2024 3:42 p.m.
Money Saving Tips for Childcare Workers The rising cost of childcare is hitting working families harder than ever. Here are some simple tips to help you save money.
CHICAGO (WLS) — Rising child care costs are hitting working families harder than ever.
A study by financial experts at LendingTree found that childcare costs for two children are nearly 40% more expensive than rent in 100 metropolitan areas.
Here are some tips for saving
-Check with your employer to see if they offer a program and if you can pay for child care from your paycheck before taxes are taken out.
-Ask for financial assistance. There may be programs sponsored by local, state, or federal agencies, or even private organizations. For example, a local church or community organization.
– Consider a nanny share program with another family.
-And don’t forget about the possible child care tax credit when filing your federal taxes.
The full study can be viewed here.
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