Hello,
I started a new job at the beginning of the month. I was working two days a week and now I work four.
I accepted the job without thinking about the implications it would have on my tax credits (silly me I know). I now have checked and I am no longer entitled to anything. The only problem is I now cannot afford my childcare. I have a 1 year old and a 3 year old. I've moved around to try and find a cheaper option but still am left with nothing after paying tax and childcare. Luckily I can still cover my bills but I am going to have little money for food and basics.
We already budget our shopping and can do more but it's a horrible feeling essentially working double the time to be worse off at the end of the month. I can't quit this job because it is a massive opportunity and once my boys go to school it will pay off but right now after paying our living costs we have nothing in the bank.
Has anyone else been in this position before? Am I missing something or is this just what happens when you increase your working hours?
It just doesn't seem right to me. Yes my salary has increased (not doubled due to tax) but my childcare costs have also doubled.
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Tax credits cut, now I can't afford to work
44 replies
NakedMum33and3rd · 23/01/2016 09:20
OP posts:
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