Of course, the earlier you start saving the better. However, I believe that some periods of life are better suited for saving than are others. The Crucial Decade it is not based on your age, but the age of your children (if you don’t have children, you are probably better rested than I am and this blog post probably won’t mean much to you).

A 2007 report by the US Department of Agriculture claims that the amount of money it takes to raise a child from birth to age 17 doesn’t fluctuate much per year. They estimate that families earning between $45,800 and $77,100 annually will spend $11,000 to $12,000 per year until age 17 for a total of $204,060. I am sure this type of information plays an important role in determining child support and foster care payments. However, as a practical family budgeter, I don’t believe that a child’s 13th year is as costly as his or her 3rd.

As all parents know, babies are expensive. Medical bills, childcare costs, time off work and baby supplies all add up. This is especially true if one spouse decides to leave their job to care for the children. Older children are also costly. Cars, college, and weddings are some of the larger ticket items you can look forward to. And this is assuming they don’t move back in with you!

Fortunately, I have discovered that there is a period of time between where the childcare costs end and the college tuition begins (even the costs of sports playing, electronic loving tweens can’t compete with those big ticket items). This is your big chance! According to the National Association of Child Care Resource and Referral Agencies, parents of school-age children pay up to $8,600 a year for part-time care. When this ends or at least diminishes, start saving the amount you were paying in childcare into a savings account to prepare for retirement or the tuition that is looming on the horizon.

Don’t let this Crucial Decade pass you by or you’ll find yourself playing catch-up in your golden years.

Every parent knows that childcare can be expensive. In fact, the average working family with children under the age of 13 spends about 10 percent of their income on childcare expenses. I caught up with my friend Nikole at the ballpark the other day to talk with her about an alternative to paid childcare. Nikole is the founder and long time member of a successful babysitting co-op.

A babysitting co-op is a way for families to exchange childcare. Simply put, a co-op is a system that allows families to organize and trade babysitting with other members. One of the benefits of a belonging to babysitting co-op is that it builds a sense of community—both for the children and the parents. Because members exchange time instead of money, co-op members can also save a lot of money.

To start a successful co-op, Nikole recommends that you do a lot of research. There are many online resources as well as a few books on the subject. Talking to members of existing co-ops can be very helpful; Nikole has provided support and guidance to at least three other co-ops in her area. And while Nikole is too humble to say this, I believe the success of a co-cop has a lot to do with having strong and dedicated leadership (Niokle’s co-op has bylaw and even a mission statement!)

As wonderful as co-op membership can be, it is not for everyone. I know because I am a failed member of Nikole’s co-op. Because I needed about 20 hours of childcare per week, I found that I was either working or watching other people’s children, leaving little time for anything else. However, for people who are able to successfully participate in a babysitting co-op, I think it is a wonderful alternative to paid childcare.

Of course, the earlier you start saving the better. However, I believe that some periods of life are better suited for saving than are others. The ideal time is not based on your age, but the age of your children (if you don’t have children, you are probably better rested than I am and this blog post probably won’t mean much to you).

A 2007 report by the US Department of Agriculture claims that the amount of money it takes to raise a child from birth to age 17 doesn’t fluctuate much per year. They estimate that families earning between $45,800 and $77,100 annually will spend $11,000 to $12,000 per year until age 17 for a total of $204,060. I am sure this type of information plays an important role in determining child support and foster care payments. However, as a practical family budgeter, I don’t buy it.

As all parents know, babies are expensive. Medical bills, childcare costs, time off work and baby supplies all add up. This is especially true if one spouse decides to leave their job to care for the children. Older children are also costly. Cars, college, and weddings are some of the larger ticket items you can look forward to. And this is assuming they don’t move back in with you!

Fortunately, I have discovered that there is a period of time between where the childcare costs end and the college tuition begins. This is your big chance! According to the National Association of Child Care Resource and Referral Agencies, parents of school-age children pay up to $8,600 a year for part-time care. When this ends or at least diminishes, start saving the amount you were paying in childcare into a savings account to prepare for retirement or the gobs of tuition that is looming on the horizon.

Don’t let this time pass you by or you’ll find yourself playing catch-up in your golden years.

We are so exicted to one of the sponsors for the upcoming Mom 2.0 Summit in Houston. In honor of the event, this week’s Blogging For Change posts will be by moms and for moms (& dads too)!