Financially Free Physicians

Childcare Costs Are Wild: Here’s How to Manage Them


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Raising kids comes with love, joy — and a hefty price tag. We’re peeling back the layers to reveal the often-overwhelming costs of childcare, breaking down what families need to know to stay ahead.

Learn practical strategies to make expenses more manageable, from tax credits and dependent care FSAs to navigating nanny payroll and long-term planning. Tune in to learn how to keep more money in your pocket while giving your loved ones the best care possible.

Key moments:

(04:44) The child tax credit and child and dependent care credit have different age requirements — know the difference (07:34) Even with little income, filing taxes can unlock valuable credits (10:55) The child and dependent care credit isn’t a set amount — here’s how it’s calculated (13:07) Your tax filing status impacts how you use a Dependent Care FSA (19:08) What to know about Schedule H when hiring a nanny (or other household help)

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Financially Free PhysiciansBy Sim Terwilliger, CFP®, CSLP®