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Controlled Chaos 08:33 AM 12-27-2016
An Excel spreadsheet, organized supplies and prioritizing

I have a spread sheet with my expected income each month, taxes (I budget out my quarterly taxes over 12 months), yearly renewal fees (divided into 12 months so as not to destroy me every December anymore ), monthly food budget, misc/education budget, insurance etc. If my income dips on a given month I try to cut back on misc daycare expenses so I don't have to cut into my profit transfer to my personal account.

Supplies - I have monthly themes and a tub to store the supplies, toys, resources in. The first year I spent about $100 month on specific theme toys, decorations and books. Now its like $25 a month to renew and refresh supplies but to kids and parents it seems like a magical huge amount of new stuff every month. This even helps with little things like extra stickers. I didn't have to buy anyone winter or Christmas stickers this year, which seems like a little thing but it adds up.

Marketing/Pricing
I am good at telling people what I am good at. My FB page is full of theme specific activities, sensory explorations, science experiment, book/craft combo lessons etc. I have a decent website (I need to update it-but to a new family its fine). I am one of the few in home daycares, that offers curriculum, largely play based and is all day (but only 7-5). Parent on my wait list have reported back there is very little out there that is similar to my program. Because of this - I charge a lot more. I am priced at a super cheap center or most expensive in home. I used to be afraid to charge more and felt a little guilty, but now I see it as every dollar more I charge is one more dollar that goes to my children. With that, I remind myself that the point of my daycare is #1 to provide MY children with an excellent daycare experience #2 to make as much money as possible. This helps me make sure my purchases for the daycare are necessary, helpful and economical and helps me save as much money as I can to go towards net profit. I also try and save 20-75 a month in the business account to help cushion during a low income or unexpectedly high expense month so I don't have to cut back on my profit transfer.

Grants - I apply for at least one grant every year. Now that I have enough big stuff, I try and spend the grant money one disposable things like paint, paper, glue, craft supplies etc first as I know I will have to buy those things. And then I buy things that need replaced puzzles, toys that have broken, then I try and buy things that will compliment upcoming themes, and then a type of toy I rotate out a lot. I try and make the purchases be as beneficial to the program as possible...just being really thoughtful about it.

And I think most importantly. Track every dollar. This is easy with a separate account, but is possible without it too. Just make it a priority to balance your budget weekly or monthly so you can assess your unique situation.

Cheers to becoming filthy rich in the new year!
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