The Outrageous Cost of Summer Camp

Summers arrive in the blink of an eye. Kids and teachers look forward to getting off school and enjoying their time off. But for many working parents, summers are challenging times. The twelve weeks of no-school put a strain on our work schedules and on our household finances. If you have school-age children and rely on daycare, you know about the outrageous cost of summer camp.

Summer Camp Expenses

Forget about spending money vacationing at Disney World or embarking on a cruise, summer camps have become a luxury. As I prepared my monthly budget, I came to the shocking realization. In June, we are going to spend $1,570 in summer camp expenses for our two children. A whole one thousand five hundred and seventy dollars, for five weeks of daycare and a few field trips.

But wait, there is good news! Our July summer camp bill will be significantly lower, it will come at around $1,064. June is usually the most expensive due to registration fees and purchases for water park season passes.

Breaking Down The Numbers

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Don’t get me wrong, I am not complaining. I am glad that my husband and I have jobs that allow us to afford this expense. But there are many families that don’t have the extra money. Frankly, no matter how much bacon you bring home, daycare and summer camps are expensive! So, consider yourself lucky if you have relatives that can take care of your kids during the summer.

Summer Camp Cost VS. Daycare Cost

While the issue of high-cost summer camp affects the finances of many families during the summer, this is the reality that working parents with small children live year-round. According to the national nonprofit organization Child Care Aware of America, the average cost of childcare for an infant at a daycare center in Texas is $9,207 per year. That is just for one kid!

The struggle to afford this service is even worse for single parents. Having the money to pay somebody to take care of your children, so that you can go to work becomes a privilege.

Budgeting For Summer Camp

A study published in 2017 by the National Endowment for Financial Education, and conducted by Harris Poll®, found that nearly half (48%) of U.S. adults admit to living paycheck to paycheck. Credit card debt, employment struggles, and mortgage/rent expenses are among the biggest reasons why people live paycheck to paycheck.

If you fit within this group, you are likely to live trapped in the debt cycle, and will probably result in using a credit card to cover summer camp expenses.

To avoid summer camp sticker shock, it is necessary to prepare in advance by creating a summer camp savings fund category in your monthly budget. Putting money aside every month will help you offset the high cost during the summer months.

Be diligent with your savings. This money should be set apart from your three to six months of expenses emergency fund. While this advice may come too late for dealing with the 2017 summer camp bill, you can implement it starting September and have plenty saved for the next year.

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Savings Strategies

I use the savings fund strategy in several categories. For instance, I have Christmas shopping, car insurance, and doggy daycare funds in my monthly budget. This allows me to save a little money every month and have plenty of cash to spend during the holidays, shopping guilt and debt-free.

Having a car insurance fund allows me to pay my annual bill in a lump sum, taking advantage of additional discounts. And having a doggy daycare fund allows me to offset the cost of leaving my pups at a doggy resort when going out of town.

If you treat your dogs like you treat your children, you know that the boarding bill for your furry friends can get just as expensive as that discounted hotel rate that you booked for your family vacation!

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• Paying Cash for a House | The 100% Down Payment Plan

The Outrageous Cost of Summer Camp