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to ask how much money you have left each month after paying childcare and work related costs?

(41 Posts)
Minicooper Tue 10-Dec-13 16:37:35

Just looking into going back to work and weighing up my options. Wondering what you do and whether you make anything financially or if its more a case of keeping going professionally (and staying sane!) And at what point you start actually making some money again....

JadziaSnax Tue 10-Dec-13 16:43:19

About £10 a week in my current job. Glad DH gets childcare vouchers!

I start a new job in January though and will be a lot better off financially so it was worth taking the initial hit as it kept my skills current which enabled me to get a far better paid job. I'm a PA at the moment but going into a technical admin role.

jammiedonut Tue 10-Dec-13 17:00:22

£600 a month, but I work unsociable hours (nights, evenings and weekends) so if I'd gone back to a 9-5 I'd have been -£400 a month! I'd rather work like a dog now, spend as much time with ds as i can and go back to a career when ds is at school, the money left over every month is going towards paying for retraining, so we're still ostensibly skint, but will ultimately be worth it (I hope!).

Normalisavariantofcrazy Tue 10-Dec-13 17:03:49

Not much

GinnelsandWhippets Tue 10-Dec-13 17:08:34

I break even basically. Work 3 days per week, childcare is 1200 approx, once travel + lunches are paid for it's pretty much all gone. But worth it for my sanity! Plus in 2 yrs (when DS goes to school) we'll 'gain' around 500 per month back, then in 4 yrs (DS2 goes to school) we'll just be paying wraparound care for 3 days and should feel pretty rich!

trilbydoll Tue 10-Dec-13 17:11:45

I'm an accountant and although I will be making some money when I go back (working locally is a good cost saver!) I would go back as long as I broke even, because I think it would be difficult to re-enter the workplace at my current level. Even if I stayed up to date with courses, I suspect employers would prefer current experience.

Minicooper Tue 10-Dec-13 17:21:44

Thanks, all, really helpful. Hmmm, I need to look at this as a long term plan, don't I?! Work to regain experience to start with, then gradually build up again....

janey68 Tue 10-Dec-13 17:25:45

When we had two children in nursery and I worked 3 days a week- we just about broke even. Though tbh with the additional commute, work clothes etc costs we were probably out of pocket for a year or so

But when they started school the costs dropped to just before/ after school and holiday care. And ours are now old enough to not need that, and my salary has increased plus of course my pension contributions have been continuous.
You have to look at the long game, otherwise childcare costs would drive you to despair!
I am very, very glad I stayed in work though, and retrospectively I'd do exactly the same again. It's worth it just for the pension and long term job satisfaction.

bigkidsdidit Tue 10-Dec-13 17:28:30

My childcare is 1600. With pension and vouchers etc, car parking spot, I take home 300. It's amazing really. But I love t job and I have a superb final salary pension now closed to new entrants; it's worth working for that alone!

Two years till ds1 is in school and ds2 gets his free nursery hours... Then I'll have so much money!

janey68 Tue 10-Dec-13 17:31:26

Bigkids- yes, it SO feels like payback time when you realise that for the first time in years you've been to work and are actually better off at the end of the month smile

bigkidsdidit Tue 10-Dec-13 17:34:16

It's a Chanel handbag a month I give my childminder grin

I'm going to go MAD <dreams>

Minicooper Tue 10-Dec-13 17:39:23

Aah, a Chanel handbag a month! What job do I need to get that?!

bigkidsdidit Tue 10-Dec-13 17:45:57

Be a childminder and look after my children! Just the thought of £1600 going out monthly makes me weep

Flisspaps Tue 10-Dec-13 17:51:35

Nothing. In fact even when adding both our salaries together, we are £300 a month under what we need to pay bills each month.

We have 2 in nearly ft childcare though, and a mortgage from the peak of the housing boom.

Minicooper Tue 10-Dec-13 17:53:49

Bigkids - you're on grin

Blondeshavemorefun Tue 10-Dec-13 18:13:39

im a nanny and have always said that employers should have their childcare costs taken off their gross salary, then be taxed on the leftover amount

some of my/friends employers have literally worked to pay me/friends but they did it as 1) keep sane grin and 2) to keep fingers in jobs, a few years taken off and hard to get back in

once kids at school, then childcare costs go down hugely and you can have that channel handbag a month smile

Minicooper Tue 10-Dec-13 19:20:23

I like your thinking, Blondes - why does it never work out like that?!

Totallyunited Tue 10-Dec-13 20:01:34

About £875 a month. I work 2.5 days a week locally and actually save money in petrol by not driving around all day. Childcare costs are only about £40 a week as all children are in school and I have an after school helper for a couple of hours a day to do pick up and start dinner. I took a fairly significant paycut to work locally and found that once I had factored in travel costs, parking, coffees, lunch (nowhere to buy either which I do miss) and childcare costs I am actually better off than I was before.

seafoodudon Tue 10-Dec-13 20:12:01

Two pre-schoolers so I make a bit under £100 pw working full time. For me it's about professional development/keeping my hand in and having something that's 'mine' (Ideally it would be 3 days a week but near impossible in my sector).

teacher123 Tue 10-Dec-13 20:24:31

I went part time after having DS and luckily being a teacher I have term time only childcare which saves us a fortune. We only pay for two days per week, (family look after DS one day per week) and mine and DH's childcare vouchers almost entirely cover our childcare costs. So it only costs us £2.50 in real money per month. I am actually only £300 per month worse off since having DS, even including going from 5 days a week to 3.

Beastofburden Tue 10-Dec-13 20:27:22

Mini, I have been back at work a long time now, but for easily the first 8 years I made trivial amounts of money. But I did build up a pension which has turned out to be far more important than what I earned at the time. I would look long and hard at getting the very best pension scheme you can lay your hands on -it can be a very smart way to get back to work.

MadeOfStarDust Tue 10-Dec-13 20:34:57

I didn't go back to work proper until the kids went to secondary last year - they are great kids who can take care of themselves for an hour here and there..... I work in a shop , 10 min walk away, they provide a uniform...

So the only work related cost I have are black, closed toe, flat shoes.. I get to keep spend all my wages....

lotsofcheese Tue 10-Dec-13 20:36:43

Nothing, for 6 months, until DS starts school in August. Then I'll earn a bit until DD is 3 (2.5 years time), which will be covered by childcare.

Short-term pain for long term gain. It will be worth it in the long term, as I'd lose my registration (and therefore ability to practise) if I took more than 2/3 years out. And I'd have to start at a lower level. Plus NHS final pension scheme is a major consideration.

Emalushka Tue 10-Dec-13 20:47:48

I don't really want to know or I might cry. My childcare fees are over a thousand per month. Two in nursery, one needing wrap around care. Only work 3 days too!

Permanentlyexhausted Tue 10-Dec-13 21:26:25

When I first went back after no.2 and had 2 in nursery I was left with £60 a month after childcare and commuting costs. Now both children are at school, I have minimal childcare and the same commuting costs I have just over £2K left.

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