costs for good childcare

7 Options To Consider If You're Struggling To Pay For Childcare

As important as good childcare is, paying for childcare can get difficult – especially for a single-income family needing extra cash. But the good news is, you don’t have to stress out too much about it! With just some research and some out-of-the-box thinking, you’ll find that there are actually plenty of ways for you to get the money you need, including registration loans and to make sure your children are safe while you work. In fact, here are seven of the many creative solutions to provide you with qualified, safe childcare for your kids.

Learn About These 7 Ways To Pay For Childcare

1. Look At Subsidies And Tax Incentives

Funding and tax credits exist for those with children. There are state child care subsidies, military family assistance, the Child and Dependent Care Tax Credit, child tax credit, and Earned Income Tax Credit. Many employers also have flexible spending or dependent care accounts, where you can put in pre-tax dollars to help with paying for childcare. And the good thing is you are reimbursed when you pay for it. This saves thousands in taxes and ensures the money is there. 

mother with child looking up childcare costs and how registration loans work

2. Share Child Sitting Duties

Those who are good friends with parents of similar age children may want to split time watching the children, especially if you have different work schedules. They can watch your kids when you're at work and you can watch theirs when they are at work. This can work out well if the kids are already playmates. This allows both you and your friend to save so much on childcare. Even if you do pay your friend and vice versa, it is much cheaper than paying for childcare at a daycare.

3. Share A Child Care Worker

A professional childcare worker can easily watch four children just as easily as two. You and another family may be able to strike a deal with the sitter to cut the overall cost if they watch both sets of children while the parents work. They should be able to give a price that would be cheaper than if they worked for each family separately or if you went through the long process of applying for a daycare and waiting for a spot to open up for your child. 

4. Set Up A Sitter Account

Someone that finds an ambitious child sitter may be able to strike a deal with them to provide them with a whole list of families who need sitters if they give you a good price to watch yours. This is a great option for those seeking summer child care because college students are looking for work but may not have all the connections. Look for someone who is getting an early education degree to ensure they have the love and qualifications to watch your child. 

5. Start A Sitter Business 

Parents who haven't yet found a job and aren't up for paying for childcare could start their own sitter service for other parents. Then, you could stay home, make some money, and help provide a needed service. However, some rules differentiate sitting for children from being a daycare and you will want to stay within those terms that differentiate you as a sitter, or have a host of regulations, fines, and inspections fall on you if you want to own a full on daycare. 

6. Look At Non-Profits

Many non-profit groups offer child care that won’t leave you scrambling for help with consistently paying for childcare. These non-profit groups include local churches, the YMCA, and community centers around you. Non-profits get federal and state tax money to offset costs or to offer "grants" to working parents who are on limited incomes. So you could still give your child adequate childcare without having to stress yourself out.

mom and child saving for childcare

7. Use Registration Loans To Help

While any of these tips can help you with paying for childcare, they might not be fast enough in case of an emergency. Fortunately, there is another option in Arizona to help you out when an emergency strikes and you really need childcare. Registration loans are offered in Arizona that allow you to use you vehicle’s registration as collateral. While similar to a title loan, registration loans don’t require you to have your vehicle fully paid for before you can get this loan.

With a registration loan, you just have to make sure your name is on the registration and that your car is registered in Arizona. We here at Fast Auto Loans, Inc. offer registration loans that can get you up to $900. All you need is a valid driver’s license issued by Arizona or another photo ID from the state, an Arizona motor vehicle registration listed in your name, your valid Social Security number, and your open checking account in your name. To begin the process, fill out the online form on our website.

Start Paying For Childcare Right Now

Whenever you need help paying for childcare, you don’t have to stress over it. There are ways you can get adequate childcare for your children without hurting your finances. And the good thing is these are just seven of the ways you can do it! So don’t worry about having to handle your childcare payments on your own. And if you decide a registration loan is the option for you, go to the Fast Auto Loans, Inc. website to fill out the online form now!


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.

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