It’s A “Dear” World
In the acquisitive world that we live in today, one can barely make it on their own, so when a bundle of joy unexpectedly shows up and becomes part of a household, things can get really strenuous in the financial aspect of things. As much as one is thrilled on having a child, the cost of taking care of that child can make huge waves on your bank account, stirring up strife over money between spouses.
If it is no walk in the park for two parents, you can only imagine what a single parent must go through while dealing with child care costs. Parents always want what is best for their child and will go to great lengths to see that happen; so therefore, they minimize their own needs to cater for those of their child’s.
1) Sacrifices Made By Parent(S)
Usually in a family unit, both parents have to work to have financial needs met in the home. But with the integration of a child, the mother has to take up the full time role of a stay- at- home mum. The man ends up becoming the breadwinner of the family, which can take a toll on his health, since he has to work long hours to get at least a decent paycheck.
Meanwhile the mother is left to take care of the child, which on the other hand, is also a very taxing job, especially in the early stages of the child’s life. She may start to:-
a) Miss her job, creating feelings of unworthiness that she might start associating with her lack of no longer working.
b) May start to feel inadequate in other areas, and it starts to toy with her self-esteem.
This kind of decision actually helps them save thousands of dollars on baby sitter fees and gas money, to and fro the baby sitter’s. These two child care costs are on top of the list. In this day and age, it is almost impossible for two people living together to sustain themselves if they are both not working, which of course, applies mostly to the middle-class group.
Getting a smaller place is also one of the sacrifices a parent has to endure. Everyone wants a spacious house, but in part of the child care costs, you have to say goodbye to such a house for a while.
2) Preparation of a Newborn into the Family
The moment the discovery is made that mother is with child, should be the moment that the two parents-to-be start saving. And here is why:-
- So that the turmoil of having to do it when the baby is already here is reduced tremendously.
- This is also the opportune time to establish the roles of who is going out there to “hunt and gather” and who is going to be the “housekeeper”. During this time, also resist the urge to over indulge in financial spending, for every cent counts and is vital for the child care costs that will incur when the baby is born.
- Being extravagant is not wise at this point. You have nothing to prove to anyone taking home expensive stuff just so you may appear of a certain class. That is doing more harm to the baby than actually perfecting his/her status in your house because that money can be put to good use for other child care costs that will you will definitely encounter in the future.
3) When the Baby Arrives
– Useful tips to minimize child care costs
Parents are left without much of a choice, since they do not want to put their child’s well-being in jeopardy. They come first.
Therefore, minimize child care costs by doing the following:-
- Assistance- Apply. The OCC (Office of Child Care) has been helping families for years that have low income or who cannot help themselves fully.
- Taxes- There is a way you can get tax breaks on filing your taxes or in other extra-curricular activities for the child.
- Neighborhood Babysitting- This can be communal, where mothers take turns in watching each other’s kids, while the others are busy. No one will have to pay the other money since there will be a turn for everybody. It will minimize your child care costs greatly.
- Eliminate Fast Food from Budget- Greatest thing you would ever do for your children. Get them used to eating home cooked meals and not only do you save, but you would be bringing up healthy children.
- Repair Clothes- Not every piece of clothing that loses a button, or gets torn should be automatically thrown away. Children’s clothes are very expensive and one would save a lot of money if they invested in a needle and thread instead.