The summer squeeze: How families can save on childcare costs
Financial expert says planning ahead can help families manage the summer squeeze
(InvestigateTV) — Summer budgets can eat up a large portion of a paycheck.
Cherry Dale, the vice president of financial education at Virginia Credit Union, said it’s important to plan now before school ever lets out.
“Thinking through what is your budget and plan the entire summer, even including your vacation, because that can eat away at your budget. So, you really want to look at how much you can afford each week for your child’s entertainment for the camp,” Dale said.
Camps can range in price from $200 a week all the way to $600 a week. Dale said families shouldn’t forget about day camps offered by places like the neighborhood Boys & Girls Clubs or YMCA. They might even offer scholarships or reduced pricing.
“You also want to think through, okay, maybe this week they want to just stay at home. And what can I do that might be cheap for my child to stay at home, even if I am a working parent. This is where you want to tap all of your resources, whether it’s neighbors, families, friends, average cost of sitters can run from $20 to $25,” Dale said.
Dale said families should never be afraid to ask. Talk to neighbors, friends, and family to see what they do.
Families can learn about summer options in their neighborhood by reaching out to their community.
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