How do you save money as a DCP?

[5 Little Monkeys]

For some provinces, Childcare is more expensive actually. If I had children in my daycare, I'd have to include them in my numbers, essentially paying myself (loosing that money) and I charge more than what I'd pay, if I used a centre. Just something I've thought about in regard to having children of my own lol.

[MommaL]

For some provinces, Childcare is more expensive actually. If I had children in my daycare, I'd have to include them in my numbers, essentially paying myself (loosing that money) and I charge more than what I'd pay, if I used a centre. Just something I've thought about in regard to having children of my own lol.

Good point. I guess I'm technically not saving money on childcare. That being said, it's sure nice not to have half of my paycheck go to another daycare each month!

[Suzie_Homemaker]

For some provinces, Childcare is more expensive actually. If I had children in my daycare, I'd have to include them in my numbers, essentially paying myself (loosing that money) and I charge more than what I'd pay, if I used a centre. Just something I've thought about in regard to having children of my own lol.

I agree. Most provinces own children count in ratios, some until long after own child is 12, so child care saving cost inaccurate since losing income for each household child = paying for childcare costs.

I also disagree with food saving in original post. Can buy in bulk regardless but still feeding 4-6 children and there is large cost to 2 snack and lunch each day. Food is this household biggest expense, and there only my husband and I now plus daycare children.

Also cost more in CPP and health insurance. Private health insurance for self-employed has not employer contribution or group plan perks so much dearer (although 100% tax deductible) and lower cover than many employment plans. CPP for self-employed mean paying whole contribution too vs part with employer contribution.

Real saving is hard to measure.

Yes, no business clothes to pay for but still wearing clothes. When work outside home, might need different clothes but there still cost for them, still need certain amount of clothes, still need laundering.

Tax deductible expenses like heat, maintenance, property tax, we still pay 100% of cost it just that self-employment mean they come off profit line before we pay tax so we not saving those deductible costs but just saving paying the tax on them. When consider water bill higher due to volume of toilet flushing and extra laundry from bedding, heat cost higher from being home all day, power cost higher from all day use, increased maintenance cost from higher volume of people and so more wear and tear on home, I pretty sure that the costs which do come out of pocket are dearer than the taxable part of the increased costs which we save by them coming off our top line.

When look at reality that empty spaces/spaces occupied by own minor children/extra cost for CPP or pension, or health insurance, often after expenses we making under min wage. I not believe with all these aspect really considered we saving money by running daycare at all.

When look at figures honestly, it come down to preference to work from home and contribute without having to travel to external employment, without having deal with workplace politics. But if someone looking at this industry to save money, they be sadly disappointed when they really look at "savings".