5 Ways To Save On Your Child’s Nursery Costs in London
There are a number of ways that parents can reduce their nursery costs in London. These are a few of them:
Nursery costs in London: 5 saving tips
Any working parent knows that childcare is an unavoidable expense which doesn’t come cheap. These days nursery fees can easily cost between £6,000-12,000 per year and parents in London can expect to pay considerably more for their child’s nursery place.
1. Negotiate Flexible Working Hours
While it is believed that the COVID-19 Lockdown is likely to change the way most of us work, job sharing, working from home and flexitime is probably going to be the norm for many industries. But global pandemics aside, as long you’ve been at the company for over 6 months, all employees in England, Scotland and Wales have a legal right to request flexible working contracts that accommodate their personal circumstances.
2. Utilise Your Support Network
No, it’s not just about guilt-tripping grandparents to babysit for free! Any family member under the state pension age who looks after your kids while you are at work can claim the tax credit. So it could really be a win-win! The children spend time with the family they love and the childcarer benefits financially too. You can’t say better than that, right?
3. Claim Tax-Free Childcare Benefits
Did you know that parents earning less than £100,000 annually can claim up to £2,000 a year per child to help with the cost of childcare? Well, almost 1.4 million families have no knowledge of this benefit afforded under the government’s tax-free childcare scheme. Don’t be one of them! This benefit covers you for any service provided by a registered childcare provider and it can definitely help you save on your nursery costs in London.
4. Check Your Eligibility for Free Childcare
It is possible to get between 15 and 30 hours of free childcare a week for children aged two, three or four across England, if certain requirements are met. For two-year-olds, you must be a recipient of qualifying benefits such as Income Support or Job Seekers Allowance. However, all three and four-year-olds are eligible for a total of 570 hours of free nursery each year, which could significantly reduce childcare costs.
5. Investigate Nursery Specific Discounts
Perhaps you’ve already done their research and got your heart set on a particular nursery in London for your little one? Maybe you subscribe to the particular method of learning employed at the institution? Or perhaps the child’s big brother or sister already attends the school?
Whatever the case is, invest some time looking at the fee structure at your chosen school or nursery. You’ll likely find there are various discounts and funding options on offer. In addition to accepting the government benefits, some schools will reward parents who pay school fees in advance while others offer discounts if more than one child attends the institution. Do your research and work out which option makes the most financial sense for you!
Want your child to attend Hatching Dragons? Let us help find a childcare solution that suits your budget by taking a look at our nursery fees. Download fees according to the nursery you wish to attend!