Monthly Expenses

[Britishmum]

What can I expect to be paying out each month for various expenses? I'm trying to work out how may kids I need to take in order to cover expenses and still earn enough to be comfortable/cover living costs. Thanks!

[Suzie_Homemaker]

Check provincial regs because most are limited between 6 and 4 children and some provinces, that includes your own.

I provide food, milk and I find my expenses average about $8 per child, per day. That include all day heat, we not have water bill because we on well, property tax, insurance, maintenance, food, toys and crafts.

[MommaL]

I was actually coming onto this board to ask the same question! Approximately how much per day or week do you spend on operational costs?

Anyone else want to share?

[sandylynn]

Suzie-Homemaker....could you define "maintenance" for me....I just want to ensure I am not missing out on any write-offs...thx

[Suzie_Homemaker]

Suzie-Homemaker....could you define "maintenance" for me....I just want to ensure I am not missing out on any write-offs...thx

Maintenance is anything you have repair during year. But it claimed as same percentage you claim for utilities etc. based on being shared space for family and daycare use. So if I paint room, I claim my percentage for paint but not my labour. If driveway re-sealed, same percentage claim. If central air vents cleaned out, same percentage. If carpet steam cleaned, same percentage. If deck stained or rotten handrail replaced, same percentage. Literally any household maintenance can be claimed as percentage due to higher wear and tear on home from daycare. Just need make sure you have receipt showing total cost of paint, deck material, deck stain, carpet clean company. Cannot claim upgrades or renos as that not maintaining what was there but replacing with better and likely increasing value of asset (family home).

[33 Daiseys]

Insurance 150 a month, food 500, crafts 100, monthly replacements 10 a month per child, steam cleaning 25 a month, and about 500 a year for things like a new stroller a year. then the increase to hydro water ect thats about 100 a month, 50 a week for house cleaning

[Britishmum]

Insurance 150 a month, food 500, crafts 100, monthly replacements 10 a month per child, steam cleaning 25 a month, and about 500 a year for things like a new stroller a year. then the increase to hydro water ect thats about 100 a month, 50 a week for house cleaning

What about paying taxes? Do you pay at the end of the year or save a little each month/make contributions throughout the year?

[Suzie_Homemaker]

What about paying taxes? Do you pay at the end of the year or save a little each month/make contributions throughout the year?

SElf employed pay end of year. Set aside income from one child and it should be plenty. When you do your tax return, it tell you what you owe for CPP, taxes and EI if you opted in to EI. Pay when you submit tax return.

[33 Daiseys]

I wait until I get my assessment then pay it off in March and April.

[sandylynn]

Just curious 33 daiseys...do you write-off 50.00 a week for housecleaning? and 25 a month for steam cleaning?