Long-Term Savings and Planning

• Start Early with a Dedicated Savings Fund
  Just like saving for a vacation or holiday gifts, setting aside money throughout the year for summer expenses can be a game changer. Consider creating a dedicated savings account and making dedicated deposits too, even small monthly contributions can add up overtime. Consider Affinity’s SmartStart Savings account¹, where you can earn up to 3.5% annual percentage yield on the first $10,000 deposited.

• Utilize Dependent Care Flexible Spending Accounts (FSA)
  Many employers offer FSAs, which allow you to set aside pre-tax dollars for childcare expenses, including summer camps. Check with your HR department to see if you qualify and plan ahead to allocate funds accordingly. You also need to make sure you use these dollars at a licensed child care center, since youth sports and in-home centers might not be approved providers.

• Look for Early Bird Discounts and Payment Plans
  Many summer programs offer discounted rates for early registration. Sign up as soon as registration opens to lock in the best prices. Some programs also offer installment payment plans, allowing you to spread the cost over several months. Registering early is often key to securing the best payment options.

• Research Scholarships and Community Resources
  Many organizations offer financial assistance for summer camps and sports. Local nonprofits, YMCAs, churches, and community centers often provide scholarships or sliding scale fees based on income. Be proactive in researching these options early in the year.

• Plan for Additional Costs Beyond Registration
  The cost of summer activities goes beyond just the registration fee. Consider additional expenses like transportation, meals, gear, and any extra fees for extended care. Creating a comprehensive budget can help avoid surprises. If you are feeling overwhelmed by your budget and planning for the near- and long- term you can schedule time with an Affinity Wellbeing Coach² to help sort through where you might be able to make changes and better prepare for summer childcare costs.

Options for Savings and Care if You Weren’t Able to Plan Ahead

• Use Tax Credits to Your Advantage
  If you didn’t plan ahead with an FSA, you may still be able to claim the Child and Dependent Care Tax Credit on your tax return, which helps offset some summer childcare costs. Use your tax return dollars toward registration fees and enrollment costs.

• Look into Babysitting and Nanny Shares
  If full-day camps are too expensive or unavailable, hiring a babysitter or participating in a nanny share may be a more flexible and affordable solution. This is especially useful for parents who need care for non-standard hours or part-time coverage.

Managing the Complexity of Summer Childcare

For many working parents, piecing together a summer schedule is like solving a puzzle. Full-day camps often run shorter hours than a traditional workday, requiring backup care or additional arrangements. Here are a few strategies to help:

• Coordinate with Other Parents – Carpooling, shared childcare arrangements, or alternating time off with another parent can make schedules more manageable.
• Stack Different Programs – Combining half-day camps with babysitting.
• Use Vacation Days Strategically – If possible, stagger vacation time throughout the summer instead of using it all at once to help cover gaps in childcare.

Summer should be a time for kids to enjoy new experiences and parents to feel at ease with their childcare choices. Planning ahead and utilizing available resources can create a summer plan that fits your budget and schedule. Whether saving over the long term or finding last-minute solutions, a little preparation goes a long way in making summer an enjoyable time for the whole family. Affinity also offers savings and budgeting resources³ that can help you better manage expenses that you know are coming, so take the step to plan ahead today!

This information is for informational purposes only, is intended to provide general guidance, and does not constitute legal, tax, or financial advice. Each person's circumstances differ and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and legal counsel to discuss your particular needs before making any financial or other commitments regarding the matters related to your condition.