Fillable Printable Child Care Budget Sheet Form

Child Care Budget Sheet Form

Budgeting For Child Care

Child Care is essential for the economy and for the family. It allows parents to concentrate on their jobs, and it

helps children learn the social, emotional, and intellectual skills needed to succeed in school. Finding affordable,

accessible, high quality child care can be challenging. Care during non-traditional hours, part time care, and

temporary care can be more expensive as well. Child care is costly, but it is only a temporary. It is very important

to include child care into your monthly budgets. Single parents may be especially affected by the high cost of child

care, especially when they have more than one child. The U.S. Department of Health and Human Services

recommends that parents spend no more than 10 percent of their family income on child care.

The average costs for Full Time care in South Dakota* are as follows:

Infants-- $7,884

Toddlers-$6,717

School Age-$3,312

Many providers do offer multiple child discounts, or sliding fee scales.

*According to the National Association of Child Care Resource and Referrals, 2009.

The state of South Dakota does provide Child Care Assistance for those who are eligible. You may be eligible if:

 You are working at least 80 hours per month and within established income guidelines (175% of the

Federal Poverty Level)

 You receive TANF and are in an approved work activity

 You are a college student who works or attends school a minimum of 80 hours per month

 You are a high school or GED student

 You are a licensed foster care family

For more information on South Dakota Child Care Assistance, or to apply, please call 1-800-227-3020, or visit South

Dakota Department of Social Services website www.dss.sd.gov.

In order to determine the amount your family can reasonably afford to spend on child care, you must first take

stock of your finances. Sit down with your partner, or if you are a single parent, a trusted friend or relative, and

determine your income and all your expenses. Next, gather information about the average costs of the daycares

you are considering. Determine if the providers you like will be able to fit into your budget. Consider other fees

that the daycare may have, such as transportation, lunches, or any other unforeseen extras. Don’t start your child

in a program you will not be able to afford long-term. You must be honest with yourself about your financial

situation, and you do not want to have to pull your child out of a program midway through. Keep in mind that the

years that you will need child care will not last forever. Please use the budget form as a draft to help you decide

how to appropriately plan for daycare.

Budget Sheet

Total Monthly Gross Income $__________

Total Health Ins. & Other Payroll Deductions $__________

Savings, 401K & Other Deferred Money $__________

Total Monthly Income $__________

Housing Expenses-Monthly Payments

Rent or Mortgage $__________

Utilities $__________

Homeowner’s Insurance (set $ aside if paid annually) $__________

Repairs (set $ aside for future expenses) $__________

Taxes (set $ aside if paid annually) $__________

Housing Total $__________

Car Expenses- Monthly Payments

Loan Payment(s) $__________

Gas $__________

Insurance (set $ aside if paid annually) $__________

Maintenance & Repairs (set $ aside for future expenses) $__________

Car Total $__________

Debts-Monthly Payments

Creditor #1 $__________

Creditor #2 $__________

Creditor#3 $__________

Creditor #4 $__________

Debt Total $__________

Other Expenses

Child Care $__________

Charitable Contributions $__________

Groceries $__________

School Tuition/Supplies $__________

Medical Bills & Co-Pays $__________

Prescription Medicines $__________

Pet Supplies & Vet Costs $__________

Entertainment & Cable $__________

Newspaper & Magazine Subscriptions $__________

Clothing $__________

Gifts $__________

Savings $__________

Other $__________

Other Expenses Total $__________

Monthly Expense Totals

Housing Total + Car Total + Debt Total + Misc. Total=

$___________

These are your Total Expenses

Total Monthly Income – Total Expenses =

$__________

A positive number is your monthly surplus

A negative number is your monthly shortage.

If negative, you may need to adjust your budget in appropriate areas to break even, or have a positive surplus.