Although most of us don't like to think about the day that we'll need to turn our precious bundle over to a caretaker while we rejoin the workforce, for most parents it's an inevitable and important decision that needs to be carefully evaluated well in advance.

The best time to think about and choose childcare, if possible, is during pregnancy while you have plenty of months to plan both mentally and financially.

One of the biggest expenses parents face, childcare can range from $100 to a whopping $1000 per week.

Determine your budget in advance of research and remember to factor in the cost and time spent on meals, toiletries and transportation.

Options and Costs

Daycare

The most popular childcare option today, daycare facilities range from smaller operations run out of a caretaker's home to highly-structured centers which offer a variety options and activities.

- Home-based daycare

Also referred to as Family Child Care, home-based care offers infants and toddlers a small, personal atmosphere with a higher number of caregivers to children.

Home-based daycare averages about $125 per week.

- Childcare Centers

Daycare Centers typically serve a larger number of children of varying ages.

They offer structured activities broken up by age group.

Many centers fill up quickly and you may need to be placed on a waiting list, so be sure to get on any lists well in advance of when you'll need to begin.

Depending on where you live, the cost of childcare centers range from $100 per week in suburbs to $175 per week in major cities.

Babysitter / Nanny

Individualized childcare, such as a nanny or babysitter offers one-on-one attention.

Nannies usually have some sort of training in childcare or child development.

The more training and experience, the more expensive a nanny will be typically starting at $500 up to $1000 per week, not to mention agency fees for placement.

Babysitters without formal training start at around $300 per week.

Make certain your babysitter has been through an infant / toddler first aid and CPR course and if not, look into a local Red Cross chapter and enroll them in a standard one-day class.

Other options

- Au Pair

Au pairs are usually foreign students taking time abroad.

Although at first glance an au pair can seem like a cost-effective option at around $100 per week for live-in, individual care, after factoring in agency fees, meals, transportation, and most importantly, auto insurance for a young foreigner, costs run along par with a babysitter or nanny.

- Shared Nannies

Although you'll have to do some legwork and networking, you may be able to find a nanny who will work with two children from different families at once.

It's best to have a friend with a child of a similar age who is willing to split the cost of the nanny with you.

Keep in mind you will have to figure out some logistics, such as alternating days at homes and how to handle situations when the nanny is sick.

- Relatives

Grandparents specifically can make great, affordable babysitters. It is important, however, to set rules for everyone so that no one is taken advantage of in the arrangement and that your relative is respectful of your parenting style.

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