Smart Military Money
Personal finance tips andadvice for the military lifestyle.
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Are you looking for a way to earn some extra income? Well, one option is to become a Child Development Home Provider.
Childcare providers offer children a warm and nurturing environment, while providing parents with the peace of mind needed to focus on their duties. And if you already have children of your own, by becoming a CDH provider, you’re able to increase your income with a smaller change in how you spend your time.
Each branch of the military has its own form of in-home childcare based on DoD guidelines. The Navy has Navy Child Development Homes; The Army and Marines call their program Family Child Care (FCC) Homes.
To become an in-home childcare provider, you must meet Department of Defense CDH Provider requirements. Typically, prospective providers are required to undergo 20-40 hours of intensive training, establishing fundamental knowledge of developmentally appropriate childcare practices, CPR, and discipline techniques.
Additionally, since your goal is to earn money, the training discusses business strategies as well. Together with the intensive training program, a provider must pass an extensive background check, health inspection and other program requirements.
Usually, the out-of-pocket expenses are minimal; the largest initial investment is liability insurance. Typically, many programs offer a lending closet full of items that you may borrow to reduce start-up expenses: books, toys, games, puzzles and furniture, such as cubbies, are sometimes available. Also, purchases for your childcare business are tax deductible.
As a childcare provider you would also be required to purchase USDA-approved food for the children. Fortunately, as an incentive to participate in the program, the USDA provides cash reimbursements for program participants.
The amount you decide to charge is between you and the parents. However, when considering your fee, keep in mind that the DoD has strict regulations regarding the total amount of children that can be under your supervision, so you’ll need to charge enough per child to meet your financial goals.
Photo thanks to sean dreilinger under a creative commons license from Flickr.
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