As Florida families lean into another long, hot summer, many are also dealing with a financial heat wave thanks to tripling childcare costs.
According to recent research from Savings.com, families with children under the age of 18 are seeing expenses rise from an average of $70 - $300 per month, which is a 329% increase, driven largely by full-day care and summer programming.
The median cost of summer camps considered by parents was $1,200, rising to $24,000 on the high end.
“Parents are really struggling with that big cost increase over the summertime,” said Beth Klongpayabal, lead research analyst with Savings.com.
The company’s recent survey found that more than a third of parents (35%) name summer as their most expensive season — outpacing even the holidays.
“Because it’s not just childcare,” Klongpayabal said. “You know, entertainment expenses are increased in the summertime. Our utilities are going up. So the money’s got to come from somewhere. And unfortunately, sometimes that means we’re using credit cards to cover that.”
The study highlights several ways families are adjusting. Some are working overtime or taking gig jobs. Others are cobbling together patchwork care through family, camps, or community programs. Many are cutting back on eating out and travel, or skipping vacations altogether.
One of the most common coping strategies? Planning ahead. The majority of parents (59%) budget for the higher costs in advance.
“The holidays are a big time for people, and they save up for that all year long,” Klongpayabal said. “And we have to think about summer that way too.”
For families keeping their summer getaways, the median amount spent per family on travel in the summer months is $1,000, four times what families spend on travel during non-summer months. To combat that cost, Klongpayabal suggests waiting until late in the season to book, when prices on flights and lodging typically dip.
Those preferring a “staycation” may want to look into local attractions offering free or discounted days. For parents looking to get their kids outside, there are free wildlife activities like the Orlando Wetlands and Lake Apopka North Shore Wildlife Drive.
Savings.com also recommends using online deal platforms and coupons to cut costs on everything from camps to groceries.
The bottom line, Klongpayabal said, “We’re all just trying to be creative and get what we can done.”
Here are some other tips from the Savings.com study.
Consider travel packages. Using the same site to book all aspects of a trip can often unlock significant discounts. For instance, JetBlue Vacations gives $50 off flight and hotel bookings of $2,000 or more.
Book in advance for special discounts. Making reservations weeks or months in advance typically secures lower rates. Early planners can get 40% off at Great Wolf Lodge right now. If you miss the early savings and can be a little flexible, try a last-minute deal, right now Booking.com is offering 20 percent discounts on last-minute “Getaway Deals.”
Stock up during seasonal sales. Currently Eagle Creek offers 20 percent off full-priced items like suitcases and duffel bags.