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How accurate is - looks like I'd be BETTER off as a SAHM!

(40 Posts)
smackapacka Tue 01-Sep-09 21:01:16

I've just had a look and entered the data as if it was just DH brninging in any money (+ child benefit).

It's basically matching my wage working 22.5hrs per week and paying for 2 days childcare. I'd be very nervous about coming out of work but how depressing that I'm on this treadmill for not really much gain.

Anyone had any experience of this?

mynameis Tue 01-Sep-09 21:05:17

Same for me too on entitled to but I also feel nervous about being unemployed

Portofino Tue 01-Sep-09 21:10:57

I'm going to be contraversial and say that "" is bit of a misnomer. If you can and do work, then surely that is always preferable to claiming?

Portofino Tue 01-Sep-09 21:12:38

"controversial" even.

smackapacka Tue 01-Sep-09 21:15:42

I take your point Portofino. I work for the NHS and I feel disillusioned (sp) about what I'm doing in the world. Having just spent a few weeks on annual leave I was intrigued by possible options. The job I do (OT) has changed so much in the time since I trained I have lost direction. I'd like to think that if I had a bit of time off to raise the children then I could re-focus my time and skills more productively in the future. I have never been out of work, never had a gap year or any career break, and I honestly don't think it's somthing I could enter into lightly, but just got me thinking....

Portofino Tue 01-Sep-09 21:17:47

Actually I totally understand where you're coming from, but think it's the current benefits/tax credit system that is wrong. It doesn't incentivise working on lower incomes.

reallywoundup Tue 01-Sep-09 21:18:10

usually pretty accurate- and if it suits your family then do it- the relief is wonderful.

I speak as self employed for nearly ten years running a successful business- i retired due to ill health in May 09 and frankly i wanted to spend time with my kids- which is something i had to go without whilst working very long hours and coping with a lot of stress and paying way more in tax than i now receive in tax credits. Fair enough i was paying in and now i feel i deserve to start taking some out while my children are small- i never had maternity leave for any of my babies so i'm taking it all in one chunk now wink Don't let anyone put you off with mis-guided illusions on grandeur- it has in more ways than one saved my sanity! but this will turn into a SAHM v WOHM debate before long!

<<dons hard hat and sits back with the popcorn>>

smackapacka Tue 01-Sep-09 21:23:32

No! Let's not do THE debate!

I won't be doing anything in the near future as I'm having another baby, so need to return to work to pay back mat pay. Maybe I'll feel differently after a break from the workplace and actually being at home fulltime. I always felt I had the best of both worlds by working full time and that my DD benefitted from her time with the childminder but I'm starting to wonder now....

If our standard of living is pretty much the same, but I can opt out of the politics and bullsh*t that accompanies my job at the moment then I think it's worth serious consideration.

Portofino Tue 01-Sep-09 21:25:50

Surely it's not about SAHM vs WOHMs, but claiming tax payers money when you don't NEED to? I have a moral problem with that.

Mousey84 Tue 01-Sep-09 21:26:36

Also take into account any benefits you get from your job - doesnt NHS has a good pension scheme and other benefits?

I would recommend calling the tax credits office and asking for advice. They have a calculator and can tell you (almost) exactly what you would get in any scenario. Last time I called for this, the girl took details of three scenarios for me and then told me which Id be better off on.

Entitledto only recently started to cover N. Ireland, but I find it quite inaccurate compared to what I actually get from tax credits. It may be different for the England site though.

smackapacka Tue 01-Sep-09 21:29:43

Thank-you. Yes I do have a good pension, but not much else in the way of perks and benefits. It's psychologically pretty draining with so many changes going on. I don't want to 'waste' a life in a job that I don't really believe in just so I can have some cash when I'm 65 IYKWIM. Knowing my luck I'll drop dead at 64 due to stress wink

CarGirl Tue 01-Sep-09 21:30:44

If I work it's for £50 a week (less travel costs, less any costs associated with working - fuel, lunches out, work clothes etc) so whilst I'm happy to find a small part time job I'm really not keen to work 30 hours a week simply because of the workload that 4 children create in terms of washing, tidying etc etc etc I did it before and it was very very stressful.

My only concern is the lack of role model for my dc, pension etc it's very frustrating.

The job hunt is on.......

smackapacka Tue 01-Sep-09 21:30:58

I should mention that I have been looking at other jobs, but the entiteldto website just got me thinking.

reallywoundup Tue 01-Sep-09 21:31:28

i'm not up for a fight- but put yourself in a position where you HATE working, or cannot cope with work and give your kids the support they need, which do you put first?

Also which is better- to work and claim back the childcare element of tax credits, or not work and only claim basic ctc? because as far as i can work out the first situation would cost the taxpayer more than the second!

Portofino Tue 01-Sep-09 21:31:35

PS - as I said, I think it is the system that is at fault rather than any individual. I can totally understand why you would want to do this. But on the other hand it makes me cross.

morningpaper Tue 01-Sep-09 21:32:03

I keep thinking that I should join the NHS JUST for the pension

Don't under-estimate it!

smackapacka Tue 01-Sep-09 21:34:10

The role model argument is a good one, but Whilst the children are so young (in my case) I'm not sure it's watertight. For a temporary reprieve from working to re-focus, it looks like it could be worthwhile.

smackapacka Tue 01-Sep-09 21:36:09

Really Morningpaper? I don't mean to be a martyr but I resent the working conditions I put up with being offset with the dangle of a carrot in 35 years time.

reallywoundup Tue 01-Sep-09 21:39:16

like i said- if its what YOU want and feel is right for your family then do it- you have worked, you have contributed- its not like you have left school signed on and sat in the pub for the last umpteen years!

Its your decision as a family. sure a role model is good but when that role model is stressed, wrung-out and generally disillusioned then what message does that send?

smackapacka Tue 01-Sep-09 21:43:49

THanks reallywoundup - I'm not 100% sure It is what I want. I have definitely contributed, although TBH I don't expect to 'get out what I put in', but if it's legal (it is), then I can't help thinking boll*cks to the morality.

morningpaper Tue 01-Sep-09 21:46:06

Yes really - having close friends living on the state pension for perhaps 30 years

So, you are on OT? So let's say you retire at normal retirement age on Band 7, after working for 30 years (hypothetically) - you would then retire on a salary of 16k per annum PLUS a tax-free lump sum of about 48k!

And no matter how much the markets collapse, you'll still be entitled to it. Most people working outside the public sector don't have a chance in hell of that kind of retirement.

smackapacka Tue 01-Sep-09 21:51:13

But I don't think that I'd give up OT forever, just as a break for a bit whilst the kids are young - befiore they start school. I know the promise of money is good, but what if you look back and think 'I was miserable, I never took a chance and had any adventures'. 'I just lived in suburbia struggling to pay the bills whilst going through the motions...' I t makes it hard to stay motivated.

smackapacka Tue 01-Sep-09 21:52:22

I'm not sure that made sense. I'm trying to say that I fear I'll reach old age and regret following my current path.

reallywoundup Tue 01-Sep-09 21:59:20

take time out whilst the kids are small and return when you feel they and you are ready- we aren't talking about you planning on sitting merrily on your arse for the next twenty years- the children will grow up and there's only so much daytime tv you can take wink

as an aside- is that seriously what an nhs pension is worth?

smackapacka Tue 01-Sep-09 22:04:49

The pension scheme may be altered in the near future, as the PCT is set to become more of a business model. Mine would probably be protected, but new starters don't get such a good deal now. I can't help thinking that with inflation, that amount of miney might not be worth much in real terms in 35 years time.

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