Four Ways You Can Save Money On Preschool Expenses

With the average cost of preschool falling between $4,460 to $13,158, it only makes sense for parents to take steps to minimize their preschool-related expenses. Check out some of the most effective ways that you can cut your preschool expenses without sacrificing the quality of your program.

1. Wait Until Your Child Is Potty Trained Before Enrolling in Preschool

One of the easiest ways to cut your preschool costs is to wait until your child is independently potty trained. Children who are potty trained require less care than those who are still in diapers. As a result, preschool centers usually offer a lower price for kids who can use the restroom by themselves.

2. Take Advantage of Allowable Tax Benefits for Preschool Expenses

If your child attends preschool so that you can work or look for work, utilize tax benefits related to childcare expenses.

The IRS offers a tax credit for work-related childcare expenses.The amount of the credit is based on your taxable income and your total work-related child care expenses. Eligible children must be under 13 years of age.

Alternatively, your employer may offer a flexible spending account (FSA) for dependent care expenses. Married couples can contribute a maximum of $5,000 to a dependent care FSA, though the employer may set lower limits. Your contributions to the dependent care FSA are made with pre-tax dollars; once you pay for preschool tuition, submit your receipts for reimbursement from the account.

Have your accountant run the numbers to see if it makes sense for you to use a dependent care FSA or take the childcare tax credit.

3. Consider Different Preschool Schedules

Preschools normally have a variety of possible schedules for their attendees, such as five, four, three, and two day programs. The programs with the least amount of days are the least expensive overall; however, on a per day basis, schedules with more days may be cheaper per day. Some have classes both in the morning and afternoon. Others offer breakfast or lunch for a fee.

To get the best deal on tuition, be willing to explore different schedules for your child. Doing so helps you get the childcare you need without breaking your budget.

4. Have Siblings Attend the Same Preschool

Preschools usually offer a discount to families that have multiple children attending the preschool. The discount may also apply to other services, such as before school, after school, and summer child care.

If you have children who are the same age, you may want them to get some time away from one another and learn to be more independent. You can request that the preschool separate your kids so that they are not in the same class; you don't have to send them to different preschools to give them their space.

For more information, contact local professionals like Youthland Academy.