Start Up Questions

[5 Little Monkeys]

This may come across as "braggy" but I really don't mean too!! This is just my situation...

We are mortgage free, no debt other than a car loan, no children and normal monthly utility bills like everyone else. I put money away in savings but than that is used to pay off my taxes every year. I am starting this year to put money away for the summer months. If I succeed in saving enough, I am strongly considering turning into a 10 month a year daycare and taking summers off. I have a partner but he is off summers and goes on EI. (We do buy what we want when we want for the most part so our savings definitely could (and should) be higher!!)

Even with all of that, I find having a hdc can be stressful financially from time to time. Yes there are always children needing care but you never have a guarantee that a family that is the right fit for you (age, likeability, able to afford your fees) will fill the empty spot ASAP. Sometimes it can take a few months. For me personally, that stress is high enough as it is and I couldn't imagine throwing single mom with no other source of income into the mix. However, others do it so it is totally doable but I'd make sure you have a strong backup plan just in case you need to close and work out of the home again.

It's a very rewarding and fulfilling job IMO so I really do wish you the best of luck and hope you are able to make it work for your family though Good luck!!