Give up spot for next year to conserve $$ now?

[Anonymous]

Anonymous wrote:Daycare is closed. They are offering options of full pay now with priority spot if they open for essential employees, 50% and no care but save spot for next year, or withdraw by date and no pay but no spot next year. We have 1 year left.

As it is, childcare cost is breaking us financially and it’s going up next year. My husband is currently taking a 30% paycut from his employer. I’m the prime breadwinner. I’m awaiting my lay off or furlough in the next few weeks. Maybe I’ll get lucky and keep my job, but I think most probable is furlough from April - September. If I lose my job, we will not be able to pay our mortgage.

5 months of childcare costs (w/no care) is over $10000 (or $5k at 50%) That’s a big chunk of our savings..

Would you take the gamble and withdraw? We love her daycare. She is so happy. We have identified a much cheaper option for the fall, if we give up the spot. It’s not as great..

WWYD?

OP, I think we are in the same preschool! We are considering option 2 and 3. We also have two kids and so the financial burden is even more significant!

[Anonymous]

Pp again. I also wouldn’t worry about losing the spot since it sounds like you are in the 3s class now with 1 year of pre K left. There are lots of spots in those classes not like those infant spots. In your case, I would suggest withdrawing.

[Anonymous]

Anonymous wrote:Pp again. I also wouldn’t worry about losing the spot since it sounds like you are in the 3s class now with 1 year of pre K left. There are lots of spots in those classes not like those infant spots. In your case, I would suggest withdrawing.

Do you all not understand that many preschools have not only closed but closed for good as they cannot maintain. Therefore, when there used to be 3s spots a plenty, there will not be anymore. Same with the 4s spots. You will wake up once this is over and wish you spent a little now to have the relief later. I would be careful to listen to these frugal posters who are trying to save a month or two. Not smart. It’s going to end sooner than we think.

[Anonymous]

I wouldn’t pay. You are going to be home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Pp again. I also wouldn’t worry about losing the spot since it sounds like you are in the 3s class now with 1 year of pre K left. There are lots of spots in those classes not like those infant spots. In your case, I would suggest withdrawing.

Do you all not understand that many preschools have not only closed but closed for good as they cannot maintain. Therefore, when there used to be 3s spots a plenty, there will not be anymore. Same with the 4s spots. You will wake up once this is over and wish you spent a little now to have the relief later. I would be careful to listen to these frugal posters who are trying to save a month or two. Not smart. It’s going to end sooner than we think.

You clearly have no idea what you are talking about. The preschool we are talking about has NUMEROUS locations and they are not definitely not going to fold. Trust me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Pp again. I also wouldn’t worry about losing the spot since it sounds like you are in the 3s class now with 1 year of pre K left. There are lots of spots in those classes not like those infant spots. In your case, I would suggest withdrawing.

Do you all not understand that many preschools have not only closed but closed for good as they cannot maintain. Therefore, when there used to be 3s spots a plenty, there will not be anymore. Same with the 4s spots. You will wake up once this is over and wish you spent a little now to have the relief later. I would be careful to listen to these frugal posters who are trying to save a month or two. Not smart. It’s going to end sooner than we think.

We are just a week or two into this. No one can say for sure whether places that have closed will come back. But, there is good reason to assume most will be back. The demand that existed before should be there, although a lengthy, deep recession would reduce demand. Landlords aren’t going to be keen to evict tenants, when it is uncertain how easily they can fill the location, and there is likely going to be legislation protecting tenants.

At the end of the day, the market forces that enabled daycares to be in business before will likely be roughly the same once things stabilize.

Of course, normal still meant it was hard to find spots, especially for young kids, so I wouldn’t cavalierly give up a spot. But in OP’s situation, I would take that chance.

[Anonymous]

If your child is 4, you should be able to find a slot somewhere. Its more an issue from infant - 2. I would tell them your husband husband took a pay cut and you may lose your job and cannot afford 1/2 pay if that happens and can they work with you as you want to stay and child is happy there. If not take the risk and go with the cheaper one.

[Anonymous]

What are you going to do, OP?

[Anonymous]

How is the cheaper option subpar exactly?
If the teachers love the kids and keep them engaged it doesnt matter what the building is like.

We had our kid in a coveted daycare as a toddler and while everyone raved about it it wasnt great. We found a cheaper one but knew what to look for and our kid was there for 3 years and thrived.

[Anonymous]

Anonymous wrote:How is the cheaper option subpar exactly?
If the teachers love the kids and keep them engaged it doesnt matter what the building is like.

We had our kid in a coveted daycare as a toddler and while everyone raved about it it wasnt great. We found a cheaper one but knew what to look for and our kid was there for 3 years and thrived.

+1 we ended up at the cheapest daycare we toured. Turned out to be great and we are concerned they won't have all the same fabulous teachers when they reopen.

[Anonymous]

Everyone has financial difficulties but it is likely that if you bail on your preschool now they will not take you back. Why would they? There will be many less spots and people will be in need. You didn’t support when you should have.