Are You Taking the Childcare Costs in Malaysia Seriously?

Childcare in Malaysia is a vital part of our economy yet the average cost per family in Malaysia has gone up far faster than the average household incomes over the years. Parents are in fact going broke to go to work and educators are having a hard time coping up. It just doesn’t make any sense. Nevertheless, parenthood is not cheap to begin with because it is one of the biggest expenses families are facing. It has become a huge burden paying for childcare, especially for families with average or low incomes.

So if you’re a working mom, few things frustrate you more than feeling like every cent you earn goes straight toward paying someone else to raise your child. Hence, planning for a child’s childcare is certainly important, you’re probably more concerned with saving here and there.

So What Are The Ways To Save on Childcare Costs in Malaysia?

• Creating a budget

The first step to save on your childcare costs is to figure out how much you are spending currently. For instance, what is the rate of the daycare or even a babysitter? Taking a look at your overall spending helps you to cut back on your costs because once you have a figure in mind, you can choose childcare within your budget.

• Explore your childcare options

Some said when things are pricey, it comes with high quality but there are times when the highest priced childcare isn’t necessarily the best. If you’re choosing childcare in Malaysia, explore all the options that you needed. For instance, you want meals, education, and developmental play, you can expect to pay more for those services. A larger scope of care usually costs more, which is why daycare centres generally charge more for younger children who require more attention.

• Compare childcare costs

When you’re in search for childcare, it’s easy to dismiss the cost. You are more focused on finding a place you feel comfortable leaving your child. To help keep your cost a top priority, have a list of childcare facilities you’re researching and list the price first, then all of the other factors like the number of children one provider watches, the location, etc. Once you invest in suitable child care pay attention to prices and how they change.

• Lean on family

Not every grandparent has the energy to chase kids around all day. But if they can pick up some of the load, it’s a great way to cut down on childcare fees. For instance, you could ask them to do it for free, or offer to pay them, even if it’s just gas and expenses. Many grandparents would accept it as an allowance to help you out and at the same time, they are able to relish the bonding opportunity. 

• Look out for low-income assistance

If you’re struggling to make ends meet, be sure to check out low-income child-care assistance in your area. In many countries, if you’re making 200% or less of the poverty income level, you are qualified for at least partial assistance with your costs. So, look up for any county subsidized programs in Malaysia to see what options are available to you.

What Are The Cost-Benefit Of Staying Home Vs Paying For Childcare In Malaysia?

In this case, if you’re paying for childcare for your little ones, you could be spending nearly RM10,000 a year. Thus, if both you and your other half are working full time at good-paying jobs, that may not be an expense that worries you. But let’s say one of you makes an annual salary of RM30 000 That means nearly half of your salary is going right back out to cover the cost of childcare prices. As such, if you’re working just to cover the bills, you might want to consider staying home to take care of your child. Nevertheless, it’s a very personal decision that comes down to what is best for your family and your situation.

Is The Childcare Cost In Malaysia a Burden To Parents?

Nevertheless, early childcare is essential to support parents who have to work. And at the same time, childcare provides early learning opportunities that can contribute to school readiness, short and long-term physical health, and positive social and emotional development which are essential to creating an environment. Unfortunately, the childcare costs in Malaysia had nearly doubled in the last quarter-century and are often a barrier to accessing high-quality care. In fact, the cost of childcare is indeed a crippling burden for many families with young children.

Can You Afford To Be a Stay At Home Parent In Malaysia?

With childcare costs eating up a large percentage of many parent’s salaries, some ultimately decide to stay home full-time or work only part-time. While this option can make financial sense, there are long-term considerations to make as well. Spending time out of the workforce can make it more difficult to find work once your children reach school age. In fact, parents who stay home several years may also lose career momentum and miss out on promotions based on their decision. Hence, parents must evaluate the costs of missing out on work while their kids are young even if childcare costs are eating up a large percentage of one parent’s salary.

Should You Start Saving On Your Child’s Childcare?

The answer is yes. One of the savings hacks for childcare costs is to start funding childcare as soon as you found out you were pregnant. By opening a savings account enable you to save up almost a year’s worth of childcare costs before you ever needed to use those funds, which was a huge help. In fact, it just takes a little planning ahead to make it much easier to manage childcare costs. If you feel like you don’t have enough cash now to set aside for later, it might just take a little shifting of priorities.

Take a look at your monthly expenses and find areas where you can cut back a little to focus on this important savings goal. Because as a parent, we all get how important it is for us to put our child’s well-being ahead of everything else. After all, the answer is not just to find a cheap daycare and choose a childcare provider based on price alone. We need to balance that with our own financial reality. Choosing the most expensive, exclusive childcare option is just as unrealistic. If we take the time to research and plan well in advance, it’ll become easier to choose the right option and financially prepare to handle the added expense.