Child Care

August 15th, 2013 by How to Make Fast Money Queen Leave a reply »
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Short Term Child Care: Baby Sitting

If you need money quickly short term child care is a great way to go. Friends, family or neighbors with young children are usually very happy to get a night out alone. You can typically make, depending on where you live, $2 to $5 per child per hour. That means if you watch three extra kids on a Friday evening at a modest $3 an hour per child, for five hours, you could bring in an extra $45. Not bad for a Friday night playing hide and go seek, watching Dora, the Explorer topped off with some Mac and Cheese.

Long Term Child Care: In Home Day Care

If you need a larger amount to supplement your income, think about in home day care. This is a great option for stay at home moms that would like some extra money or need to supplement their husband’s income but would still like to stay at home. Pay varies depending on where you live and the care that you offer. Typically you can expect anywhere from $20 to $40 a day. Which can really add up. Taking an average of $30 per day per child, if you were to watch an extra 4 kids you could make around $2400 a month.

Each state has different regulation on how many kids you can watch and if you need to have a license. Becoming a licensed child care provider can be a great option. Licensed providers are often compensated for food that they feed the children in their care, including your own children. You can make, on average, $100 per month per child (including your own) that are in your care. Assuming you have two children of your own and if you add this to our previous scenario of watching four additional kids you would make an additional $600 per month. In this scenario you would bring in an additional $3000 per month. That is with just four additional kids, many states will allow you to watch 8 to 10 kids at one time. Plus, if you are licensed you can apply for grants. Most states offer licensed child care providers grants to buy toys, strollers, cribs, playpens and other supplies to benefit the children you are watching. The best part is, when you quit watching kids all of the supplies are yours to keep.

I have personally been a licensed provider for years. It can be a really fun option if you love kids and are up for long exhausting days! So if you are seriously thinking about this here are a few things I wish that I would have known when I started:

First, keep records, keep records, keep records! At the end of the fiscal year you will need to provide each parent a statement of how much they have paid you for taxes. Chances are, they haven’t kept track, so make sure that you do!

If you can, have parents pay a set amount and charge for the days that they choose to not bring their child (since you are still holding that spot for their child). I’ve never charged for days I choose not to watch kids. It is easier to charge by the day, week or month than by the hour.

Also, don’t be afraid to take off a day here and there to be with just your kids! It’s important to have that break for you and your kids! It can be overwhelming adding a lot of kids at once.

Start adding one at a time. I’ve watched kids with and without a license. It can take some time to get the license, but my personal feelings are that it is completely worth it. This year alone, I have received about $2500 in grant money and supplies.

About the author

How to Make Fast Money Queen Dannielle Petersen is an educator and spent several wonderful years in the classroom . She loves to help and see others reach their full potential. Dannielle is now, full time employed in the most important endeavor of her life, that of being a wife and mother to two adorable, high energy, enthusiastic boys. It's Dannielle's goal to gain financial independence and it's her pleasure to share her ideas as she discovers, explores and learns so others can follow in her foot steps. You can find her on .