Summertime, and the living is easy – unless you’re a parent of young children, trying to find and afford ways to occupy them during the long break. If you have a baby in day care, the center is likely to be open year-round, so you’re all set. Otherwise, the lack of school can create a big gap in your child’s schedule during the summer. And you’ll need to fill it with supervision and activities, the costs of which can add up fast.
“Those summer months, even though it is only a few weeks in the grand scheme of things, can make a significant difference in how much your cost of care is for the year,” says Kerri Swope, vice president of Care.com HomePay, the online child care resource’s tax, human resources and payroll business. “So it’s worth taking a step back and doing some homework to figure out what your budget is and the best balance for your family.”
First, you want to determine what your summer child care needs are. That means plotting out your own schedule and how much time (and energy) you have to spend with your kids. If you’re working, personal finance expert Cameron Huddleston, life and money columnist for GoBankingRates.com, recommends talking to your employer about tweaking your schedule for the summer months. Perhaps you could work from home for at least part of the week or shift your hours in another way that could ease your burden. “They might say no, but it’s worth a shot,” Huddleston says.
Keep in mind, though, that working from home is not a full replacement for child care. You still have to work, after all. But it can give you more flexibility with when you work. For example, Huddleston notes that if you’re not on a strict deadline or timetable, you can wake up early before the kids or go to sleep after the kids (or both) to get work done. Then, you’ll be free to focus on your kids during the day. “Work around your kids’ schedule,” she says. “You might be able to pull it off and get away without paying for as much child care.”
You also need to think about your budget and how to make your needs fit into it. You may need to cut back your spending in other areas in order to afford more of what you need for your kids. Or you may need to adjust your plans if you simply don’t have enough to afford all the activities you might want to do with them. For example, a few weeks of sleepaway camp might be too pricey, but maybe paying for just one or two weeks is affordable. Or maybe going with day camp is less expensive than the overnight option. Whatever the case, you need to plan ahead. “If you’re going into summer blindly without having any idea of how much you can afford to spend, you’re going to wind up spending way too much because there are so many temptations in the summer,” Huddleston says.
Ideally, you’ll have baked summer costs into your overall financial plan for the whole year and years to come. “To prepare for summer expenses, I recommend that parents budget for year-round care of children,” says Deborah Meyer, financial planner and owner of financial planning firm WorthyNest in Saint Charles, Missouri. “If both parents work outside the home, that means budgeting for day care, summer camp, before and after school care and private schooling costs, if applicable. All families should also have a line item specifically for kids’ activities – regardless of the season.”
Once you know your needs and your budget, you have to figure out how to reconcile the two and consider all your options. In terms of child care, you may find the number of available providers in your area grows in the summer months, what with college students returning home for the summer, teens looking for gigs and some teachers wanting to take on extra work. Indeed, Care.com sees a spike in activity from providers as summer approaches. In May 2016 (the most recent data available), the number of postings jumped 36 percent compared with the rest of the year.
So definitely shop around. Along with searching sites such as Care.com, as well as UrbanSitter and Sittercity, you can tap your digital village. Many areas have Facebook pages, Meetup groups and other social media networks specifically for families to help each other and share this kind of information. Also try talking to other local parents and neighbors for leads. You might even find families in a situation similar to yours that you can work with, by either sharing a nanny or babysitter who is willing to take on multiple kids at once or by helping each other sans professionals. “You can do a child care share,” Huddleston says. “Perhaps one day of the week, you can watch some of the neighborhood kids, and the next day, another parent can watch some of the neighborhood kids.”
Going with a pro, prices can vary greatly depending on the providers’ level of experience and what you’re asking them to do. On average, across the nation during the summer, rates for a nanny fall between $14 and $15 an hour. To find what you can expect to pay in your area, try Care.com’s babysitting calculator.
Aside from, or on top of, care, you have to factor in costs for activities, too. You’ll find plenty of summer camp options nationwide, whether sleepaway or day camp, catering to all kinds of interests, from sports to space and band to dance. There are even camps focused on teaching personal finance. And the range of prices is just as wide: from less than $100 to more than $1,500 a week, according to the American Camp Association. “You can look for low- or even no-cost options through public libraries, your school system and your parks and recreation departments,” Huddleston says.
Those resources can help with other activities at little to no cost, too. You can also head back to those social media groups, as well as local papers and magazines, for other ideas of what to do with your kids on a budget. In many areas, you can find free concerts, movies, festivals and other events. “The great thing about summer is that, even though you’re tempted to spend on so many activities, like going to a water park or amusement park, there are so many free activities,” Huddleston says. “You can definitely keep your kids occupied without spending much money.”
