A recent study by the RAND Corporation, a nonprofit, global policy firm, shows that voluntary summer programs like day camp have a significant, positive impact on low-income students during a time when they fall behind their wealthier peers both academically and socially. Their research also shows that children benefit from learning social and behavioral skills in different settings with new peers.
The problem comes from accessibility and cost. Many parents looking for assistance during the summer may not realize there are programs available to them to offset these expenses. There may still be time to make this happen for the 2022 summer season. But if you miss out now, this is the perfect time to start planning for summer day camp expenses for 2023.
Plan now for next year's day camp expenses
While you might not be thinking about s'mores when open enrollment starts, there are some significant savings to be had by planning ahead for the following year. But if you're planning and saving for future expenses, chances are you needed to make that decision at open enrollment the previous year.
Camp and other summer child care costs can be a big line item for working parents. Though prices vary, summer day camp programs accredited by the American Camp Association average $314 per week. Using a dependent care FSA can help parents save an average of 30% on these services, while also reducing your overall tax burden.