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Is it worth going back to work finanically...part time

(17 Posts)
bgt Sun 04-Jan-09 21:36:25

I am due to go back to work next week and just working out finances, once I have paid travel, pension and nursery (3days) I think I may be left with around 500 a month. I am not sure whether for 500 its worth me not seeing my baby for 3 days a week. I am sure I am very lucky in my job as the part time salary is very good. How do you work out whether its benfiical fo ryou to go back to work? we could probably manage without my salary but I wouldnt have any spends for me :-(

Ambi Sun 04-Jan-09 21:40:16

I think that's more than most part time mums are left with, you would be very lucky.

ChasingSquirrels Sun 04-Jan-09 21:40:23

it's not just finances, for me I wouldn't have been able to (easily) get back into my line of work if I took an extended (5+ years) period off, so I work part-time in order to be able to work in the future.

3 days working still gives you 4 days with your baby, gives you that £500 for extra's, pays into your pension.

ranting Sun 04-Jan-09 21:44:31

I think if it's financially worth it then it's worth doing tbh. I found a new sense of self esteem after returning to work and I really appreciate having my own source of income. Although my youngest child was way past babyhood when I went back.

Karamazov Sun 04-Jan-09 22:24:13

£500 quid a month is quite a lot, and you still have two work days where you can do things (and afford to do things with your child). Trust me, that gets expensive as they get older! You are also with your child for 4 days a week, so the majority of the time. Plus, think of the other benefits - as others have said - you won't slide back down the career ladder and have to start again, you're still paying into your pension and so on...

I work 3 days, and after initial wobbles of going back to work, I now love it and find it a perfect balance for me. I have me time, when I can be a grown up and work, but I also have lots of time with my DDs and get to do all those extra curricular activities with them.


Karamazov Sun 04-Jan-09 22:25:20

Oh and I have the money to enjoy doing things with my DDs - something I wouldn't have if I didn't work!

happynewyeartoall Mon 05-Jan-09 11:48:11

Well worth it IMO. I have about this amount and it's what pays for me to go out with the LO's, go shopping, for coffees, buy birthday presents, cover extra activities for the kidss and treat my DH occasionally.

philopastry Mon 05-Jan-09 21:48:38

You seem to be in the lucky position of not having to work to make ends meet financially. Lucky you! grin

So, because this is not entirely about money the answer - and reason for that answer - is likely to be both personal and unique to you. I suspect that you may already know deep down the answer to your own question. So it is time to get interested in yourself and ask yourself some questions to get that answer out. I would be asking myself:-

What will I get out of going back to work? (List every single benefit you can think of, not just financial, and rack your brains for a few more besides)

What will it 'cost' me to go back to work (same as above - get anything and everything you can think of out)

Write down your answers. Try hard not to attach any judgement to your answers, be really really honest (and know that you can destroy the evidence when need be that is what shredders are for!)

Look at your 2 lists. Sleep on them. In the morning ask yourself the following question:-

If it was 6 months from now and I had made the right decision, what would my week be like? How would I be feeling? Who would I be seeing? What would I be doing? How would I know that I had made the right decision for me?

I don't know if this helps but hope it does and wish you lots of luck. Trust yourself to make the right decision for you smile

RobynLou Fri 09-Jan-09 01:11:12

you should take a long term view also - you might not get alot now, but as the time goes by your childcare costs will decrease and your earnings will increase, if you take a long break from work you may never catch up again career and pay wise - in 30 years you'll be better off if you keep working, even if you're not earning much and just treading water career wise for a while...

I do agree with philopastry's idea about hvaing a think and writing it down however you may find that your thoughts when actually doing it surprise you.

Why not return and find out? If you really don't like it you can leave, which is a better position than most.

Its not an easy decision for anyone smile

2k9kids Fri 09-Jan-09 06:46:39

Sounds like a touch of cold feet as you are due to go back fairly soon, which is natural!
£500 a month is a lot and worth giving it a go at least I'd say.
If you hate it and dont appreciate or need the extra money after a couple of months then you can leave then.

I have the problem that with 2 young children, any job I am applying for works out costing me money as it doesnt cover travel and childcare for 2!!! I'm not paying to work so at the moment for me its not worth it finacially.
If I was in your position I'd jump at the job to be honest.

moey Fri 09-Jan-09 17:33:51

Dito on what 2k9kids has said. I would jump at the chance of that extra £500 and plus the time you get with your kids are valuable too. You're getting your cake and getting to eat it too. Lucky you! I wish I was in you place.

lovemybabes Tue 13-Jan-09 07:51:19

Remember that those checking this thread are mostly working mums, or thinking about it, so you're probably not getting the input of SAHMs. It's a totally personal decision IMO. I work two days a week from home for my original company and it's not enough really financially but luckily DH goes along with my desire to spend my days in the sandpit. And I would LOVE to be able to not do it, but I have to earn the extra as hubby is in a rewarding but badly paid industry. Equally, I can totally understand work being essential to someone's else's equilibrium and happiness. Good luck with your decision!

llareggub Tue 13-Jan-09 08:07:41

I've been having the same quandary about returning to work after my next maternity leave, although I don't actually start it until next month!

I've decided that I will take the short-term pain of leaving the children for a couple of days a week to protect my future earning capacity. That said, I don't particularly have a commute so apart from childcare and lunch, it doesn't really impact on my salary.

fizzybellasmum Fri 16-Oct-09 22:15:36

How do you work out how much it is going to cost in childcare and benefits? I'm trying to figure it out as I don't really like my job and I only earn 12k a year for 3 1/2 days and I'd be paying childcare for 2 kids at 3.30 p/h each. My husband works full time and earns about 20K. We work for the same company. With running cars and the mortgage is it going to be worth it as DD isn't entitled to nursery vouchers until next September (cockup on my part, I thought it was from her 3rd birthday in April, but a few weeks too late for that!).
I think I'd have to return for 3 months not to have to pay back my OMP but beyond that it's probably not worth it. Ideally I'd prefer to change jobs within the company so I don't have to pay back OMP, but if my salary stayed the same would it be worth it?

Am I better off cutting down my hours to minimise my costs for the 3 months and then staying at home?

Greatfun Mon 19-Oct-09 23:03:39

I was in the same position as you in terms of hours/pay after expenses and chose to give up work. I had the added burden of a 1.5 hour commmute which in many ways took the choice out of my hands. We also had problems with childcare and like many others don't have family nearby to help out. I feel fortunate we can live without the extra £500 and took a very personal decision that I wanted to be at home with the DCs whilst they were young. We have 2 DCs and when my yougest was born there was no way we could afford for me not to work (even though it was only 3 days) and I remember feeling very envy of anyone who was at home with their DCs so i knew where my true feelings lay. It took me a lot of soul searching and a whole lot of reading MN to reach my decision. I left a few months ago and for the most part I don't regret it but I do intend to return to work in about 2 years time once my youngest is over 3. My area of work is highly specialised and a career rather than just a job but its also a difficult time in my industry. I have stayed in touch with my boss and in the meantime will look into gaining another skill. In many ways its given me a fresh perspective. Whereas before I could only ever see myself as my previous job (won't reveal as I think it will 'out' me wink) I am starting to see alternatives and consider what else I could do. If I had been able to work 2 days I would have gone back though as I think 24 hour child care is tough going. But that woudl have been on the proviso of good childcare which for one reason and another I don't have. You also need to think about the reality of being a SAHM and the bits that aren't great and how you will feel when thats going on.I admit I have had 1 or 2 days where I have regretted my decision and wondered what I have done. For example my closest SAHM friend is moving 200 miles away which is going to make life quite lonely for at least a while and like the days where the kids just winge and the endless cleaning.I could go on but I won't! On the other side I love the fact that our mornings are so chilled with no one having to get up early and the flexibility I have with the days depending on how we feel and what the weathers like. I can see its not for everyone and I dont think there is a one-fit solution. Having been a WOHM and a SAHM there are pros and cons for each. I dont think going to nursery from 8 months did my DD any harm in fact in many ways she has advantages over my son who hasn't had any childcare.

dycey Tue 20-Oct-09 09:45:01

It's really hard isn't it? I too have 3 days a week to go back to and will have money left over after childcare and I realise how very lucky I am to have that. We need the money so I have to go back and by working I keep my job, keep on the career ladder, get promoted each year, earn money, pay my student loan off, pay into a pension, keep my skills up, will earn more in the future, have colleagues and a community life - reap the rewards of my training and effort put in to work. BUT my gut tells me that it is wrong for me to be parted from my baby. I want to be at home with him and bring him up. That outweighs all the plus points of work for me - for now. But I haven't gone back yet so have no idea really. Oh dear - it's tough!

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