5 Ways to Make Summer Camp Affordable

4. Create a Camp of Your Own
Like-minded parents can trade off watching a group of neighborhood children each day by taking turns as "home camp" director. Online resources such as SheKnows can be good guides in terms of getting started. Consider getting CPR and first aid training, gathering a list of emergency contacts and setting disciplinary rules all in advance. Activity lists, menus and budgets are all up to you: Open the back door and pitch a tent, have a hot dog roast or get the hose and a few garbage bags together for a do-it-yourself waterslide.

5. Set Up A Dependent Care Flexible Spending Account
With a flex spending account, parents can set aside up to $5,000 each year, pre-tax, to pay for child care that enables the guardians to work, look for work or attend school. Like a health care flex spending account, a dependent care account can be activated by your human resources or payroll department. If you are caring for children age 13 or younger, the account can be used to pay for their day camp (but not overnight camp).

The child and dependent care tax credit could be another money saving option. A tax professional can provide additional guidance in terms of which tax strategy is best for you.