Preparing for summertime child care expenses

The kids are happy to be out of school, but parents may be less delighted. Their children’s freedom is going to cost them.

According to a survey from Bankrate.com, one-third of parents will whip out their credit cards to pay for child care expenses this summer. On average, according to that study, parents may shell out $998 per child, while nearly 20 percent will spend more than $2,000.

So other than going into debt, what can you do in the 11th hour to meet these expenses this summer? Here are a few suggestions:

Open a 0 percent credit card

Ted Rossman, a credit card analyst for Bankrate.com, says if you don’t have cash on hand, consider opening a 0 percent credit card and using that. Doing so gives you time to pay off the expenses slowly, without additional interest and fees.

Adjust your budget

“Are there places where you can cut back or downsize, even just for the summer?" says Leslie Tayne, a debt resolution attorney with the Tayne Law Group in Melville. "Examining everything that’s going out and coming in may allow you to free up existing funds that you can contribute towards summer child care,” Tayne says.

Pick up a side hustle

Summer is a great time to do this because there are a lot of seasonal positions available. Do something you enjoy, like baking or dog-walking, that also fits your schedule. Anything extra will help with those summertime expenses.

Negotiate

“Many child care options [such as camps and day cares] may work with you on a payment plan that distributes payments over the summer, says Tayne. "Other options may include a multi-child discount or a discount if you’re sending your kids for multiple weeks.

"There may be scholarships or financial assistance programs," she says, adding. "They may not advertise these options, so ask.”