- You presently pay greater than $12 per day for baby care.
- Your baby is beneath the age of six.
- Your baby is enrolled in a licensed baby care facility that’s taking part within the nationwide baby care program.
Potential financial savings
The quantity you’ll save relies on the charges charged by your baby care supplier. Under are the federal government’s estimates for the common annual financial savings per baby with $10-a-day daycare in place in comparison with the charges in 2019.
| Province/Territory | Estimated annual financial savings |
|---|---|
| Alberta | $8,610 |
| British Columbia | $9,390 |
| Manitoba | $2,610 |
| New Brunswick | $5,220 |
| Newfoundland and Labrador | $7,560 |
| Northwest Territories | $7,300 |
| Nova Scotia | $6,780 |
| Nunavut | $7,300 |
| Ontario | $9,000+ |
| Prince Edward Island | $4,170 |
| Saskatchewan | $5,220 |
| Yukon | $7,300 |
What impression will this system have on households?
The $10-a-day baby care program could have a big monetary impression on younger households in Canada by making baby care extra inexpensive. Households in Ontario and British Columbia, for instance, can count on to avoid wasting greater than $9,000 per 12 months in comparison with 2019. Which means extra money for different large bills, comparable to housing, transportation and meals.
Inexpensive daycare may produce other ripple results, too. {Couples} who’re uncertain if they’ll afford to have children may really feel extra assured about beginning a household. That is very true for these fascinated by having multiple kidFewer moms might really feel the necessity to depart the workforce to care for his or her youngsters, as so many did throughout the pandemic. And this could positively impression the funds of households general.
What must you do with the rebates you obtain?
Relying on the quantity you presently pay for daycare, CWELCC may translate to 1000’s of {dollars} again in your pocket. Listed below are a couple of methods you’ll be able to put that cash to good use:
My expertise with $10-a-day daycare
After I came upon I used to be pregnant within the fall of 2020, my husband and I researched a number of baby care suppliers in our neighbourhood and put our names on quite a few wait-lists. We did on-line analysis and went on excursions to satisfy the employees and see the services first-hand. From there, we anticipated spending an eye-watering $23,400 on daycare within the first 12 months alone.
We reside in a significant metropolis and wanted toddler care (versus toddler care)—two issues that come at a premium. So, we got here up with a plan. We opened a brand new financial savings account and stashed cash away each month. Having a head begin helped reduce the monetary burden we knew we might face.
We additionally put collectively a chart evaluating the charges of daycare services that both opted into or opted out of CWELCC. The distinction added as much as tens of 1000’s of {dollars} over a number of years. Not realizing whether or not our most well-liked facility would in the end enroll, as a backup plan we put our names on a number of wait-lists for toddler care rooms. Thankfully, our baby care supplier did decide into this system final fall.
Presently, we’re patiently ready for our 2022 reimbursement—we anticipate getting roughly $3,500 again. And the brand new 50% discount for 2023 will quantity to round $11,500 in financial savings. With the rising value of dwelling, it’s a monetary reduction to get this a refund. We’ll be placing it to good use by redirecting it towards our baby’s future schooling.
