Nanny Sharing: An Innovative Option
Nanny sharing is an innovative way to address the childcare crisis. The cost of childcare is the single largest expense for most families with children under the age of five. It is higher than most mortgages and exceeds the average cost of college tuition. At the same time, quality child care providers are barely taking home enough to sustain their own families. Nanny sharing is a dynamic solution that can save families more than a $13,000 per year while nannies can make $13,000 more!
Nanny sharing really is a win all around. There is even a bonus in it for the children! Nanny share children benefit from social interaction while still getting personalized care in a home setting.
Typical nanny shares work by two local families using one nanny for care of their children. They each pay the nanny separately at the agreed-upon rate. Families save on cost by sharing the cost. Nannies make more than if they would working for only one family. Each party benefits by 33%.
Rates vary greatly by region and number of children, but here is a simple math example:
Let’s say the nanny’s rate working for a single family is $15/hour to care for one child. In a nanny share, the nanny might make $20/hour, with each family paying $10/hour. The nanny makes $5 more an hour, and each family reduces their cost by $5 hour.
A full-time (50 hour week) position works out to each family saving $13,000 a year! And the well-deserving nanny makes $13,000 more a year! Surely, you can see why HomeWork Solutions describes nanny sharing as a means to Managing Childcare Costs in a Troubled Economy.
TYPES OF NANNY SHARES
Nanny shares can be set up in different ways. Here are just a few examples:
Same day of care nanny shares:
- Full-time family and full-time family on the same day.
Same day nanny shares are the ultimate cost-saving strategy for families, and the nanny consistently earns more.
- Full-time family and a part-time family.
Typically, the full-time family would pay the nanny at the nanny-share rate for only the hours the part-time family is also using care. They would pay a regular, single-family rate for the hours they alone were using the nanny’s services.
- Full-time or part-time family and back up or occasional care.
Shares can be the solution for a family with a varying schedule or one that requires only occasional hours.
Wise parents know, you need to back up your back ups! If all parties are agreeable, meeting your friend or neighbor’s nanny to use for back up when your nanny needs off is smart. That way you can call them in a pinch.
Occasional care nanny share arrangements are great for stay at home parents that may only need childcare on the occasion for an appointment or just to get some things done sans child.
Opposite day of care nanny shares:
- Two part-time families on opposite days.
A part-time family may employ a nanny only three days per week. But if the nanny desires full-time hours, they can find another family who needs care only two days a week to match up. Both families then typically would pay the nanny at a single-family rate since they are not doing a same-day nanny share.
- Temporary or summer care .
Temporary or summer care nanny share arrangements are nice for families with older children who only need care over holiday or summer break. They link up with a family who uses a nanny on a regular basis to avoid trying to piece together multiple babysitters to cover care needs.
Also consider, it is very common that teachers with young children do not require childcare over the summer. What then? They either have to pay their nanny to retain them, or the nanny is out of work for the summer. However, parties in this situation would match up nicely with a family who only needs summer care. Families with older children often struggle to find care providers for such a short gig.