Saving Money Tips for Children

1) If your employer allows, participate in a child care flexible spending account. This is a special account that the Internal Revenue Service (IRS) created that allows you to set aside money for child care expenses with pre-tax dollars. You ask your employer to take out a certain amount of money each month from your paycheck and you can use this money tax free for child care related expenses.

2) Inquire to see if your company has partnerships or offers discounts for certain child care provider services. Companies will sometimes negotiate discount plans with local child care providers to help offset child care costs.

3) See if your public school district offers a half day pre-kindergarten program for 4-year-olds. These programs are usually free and by signing your child up, it will reduce your child care needs to a half day from a full day.

4) If your employer allows flex hours, job sharing or telecommuting, you may be able to use these to juggle your schedule and cut your child care costs.

5) If both you and your spouse work, see if it's possible to arrange your work schedules so they overlap as little as possible. This will allow you to reduce the number of hours your child has to spend at child care.

6) See if there is a relative that can help with child care.

7) Consider hiring a nanny and sharing the cost of child care with a few good friends. This will allow you to pay less individually for child care costs and the nanny will make more overall.