Tips to manage Nanny and Nanny cost

If you are a new parent and considering childcare options for your infant, you may be looking at hiring a nanny. Many daycares won’t take small infants, so your best option, if you don’t have family that can care for your child, may be a nanny. Before employing a nanny, you should plan the nanny’s job description so the expectations are clear.
• You should consider what qualifications you require – a college degree, number of years experience with kids, any special what qualifications you require – a college degree, number of years experience with kids, any special certifications, etc.
• Remember that higher qualified nannies expect a higher salary. Nanny costs range from $400 - $1000/week depending on your location. You should thoroughly check the references as well as his or her background to make sure they are legally able to work in this country.
• You should hire the nanny legally which means paying them a salary and withholding taxes. You will need to issue a W-2 and secure your own employer tax identification for reporting purposes.
• A nanny share, or "share care," is pretty much what it sounds like — instead of working for just one family, a nanny cares for the child or children of two or more families at the same time. Parents can share the services of a nanny and share the costs as well. Your child is more likely to get one-on-one attention than they would in a daycare setting.
• If a nanny comes to your house, your child spends her day in her own familiar environment. And because she's not around many kids, your child may not get sick as often as she might at a daycare center.
Another benefit to a nanny share is that you have other parents to help out.
• For example, if your caregiver gets sick, parents can negotiate who can stay home and you have other parents to help out. For example, if your caregiver gets sick, parents can negotiate who can stay home and watch the kids.
• You'll save money compared to what you'd normally spend on a nanny. A sample arrangement would be a nanny who charges $15/hr for one child or $10/hr per child for two children. The nanny benefits from a higher overall pay because she is caring for two children, but you benefit from having a dedicated caregiver who is actually costing you a bit less

Be wise while managing your expenses. Take smart decisions. You can take help of a budget planning sheet, or free budget planner.