How To Build A Positive Financial Mindset

In this webinar, we talked with our special guest, Karen Foster-Jorgensen, about the #1 risk for child care owners in 2020: finances. Karen walks us through what to prioritize in your budget, why building a strong financial mindset is key, and how to prepare for the 2021 fiscal year.

🖥️ Watch Recording

Watch the recording here. Access slides here.

🔍 Key Takeaways from Karen Foster-Jorgensen

  • Don’t be afraid to say that 5-letter word: M O N E Y 
  • All your experiences contribute to where you are today and where you’ll be going in the future. Always be learning!
  • Look at your operating costs and what type of services you are offering. From there, you will know what your GPS “gap per slot” is and how to adjust accordingly.
  • Financial reserves is so so key to run a healthy business – think of it as saving for a rainy day!
  • Even though we’re working with families and relationships are important, childcare is still a business and it’s okay to prioritize the two together.
  • Get honest about your costs! Communicate this with families so that everyone’s on the same page and can collaborate to make things work.
  • Revamp your budget from scratch every year. This is a really good exercise to keep on the ball with your cashflow and adapt in the short term – really important to surviving the pandemic.
  • A budget is a “best guess” and helps you map out your center’s big picture. Once you have it, you’ll know where the gaps and be better equipped to make decisions.

✨Resources

🌟2020 Child Care Benchmark Report

This is just a high-level overview of the state of child care – get your copy of the HiMama’s 2020 Child Care Benchmark to have all the insights!

🎓 Certificate Instructions

To receive your certificate, you will need to watch the whole recorded session on WebinarJam. The certificate is shared at the end of the session at the bottom of the chat bar. You can download the PDF, fill out your name, and center name in the blanks and you’re done!


The HiMama child care app helps to streamline your digital parent communications. Book a consultation with us today to learn how we can support your child care center during this time.

Image from: Lifehacker

Ria Simon

Ria Simon in the Community Ambassador at Himama. Prior to starting at Himama, Ria was an Early Childhood Educator and worked 6 years in the classroom. She taught all ages but mainly preschoolers. Ria lives in Toronto with her husband. In her spare time, she enjoys time with her niece and nephew and being on the water.

One comment

  • Cecille Bennett says:

    It used to be that I can open the bottom bar. But I could not this time. Is there another way to get it?

    By the way, I enjoyed this seminar especially the tips on finding means and ways to get funding and grant. 😀

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