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Original poster

Childcare shock

108 replies

LittleFonzy · 05/08/2019 19:58

Hi. Totally brand new to the forum. Please bear with me, as I can be a little slow on the uptake sometimes.

My partner and I are expecting a baby this December and like to be as organised as we can.

We both have very average salaries and have just been researching the cost of childcare and frightened ourselves to death.

By the looks of things, the childcare would take about 70% plus of my partners salary if she goes back to work. This is for a registered nursery.

Looking at our finances we have always run a relatively tight ship, and aren't extravagant with clothes, holdiays or monthly entertainment, but we would be certainly losing money each month with these figures.

So, I guess the question is, what are we missing or what should we be thinking about? Do any members have any words of wisdom? Things to think about? Articles/books we should read?

Thank you for any help.

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Craptop · 05/08/2019 20:09

Because he's a halfwit and/or sexist?

JoxerGoesToStuttgart · 05/08/2019 20:07

Yawn, household income is what matters.

Exactly. So why was he deducting the cost solely from his partner’s salary?

Craptop · 05/08/2019 20:07

What percentage of your household income does it take up? And what does it matter anyway if you can both afford it?

Childcare is expensive. Perhaps she could do four days a week, and you could do four days a week. Perhaps you could do compacted hours?? How does it financially stack up for you both to lose 20% of your incomes versus the cost of childcare?

Do the sums.

Icedlatte · 05/08/2019 20:06

Hi OP,

Yes childcare is shockingly expensive, and (depending where you live in the country) often equates to about as much as one person take home for a day after tax and other deductions. Naturally if you have two salaries coming in it should be considered a household cost rather than that single persons cost to bear, however.

This is why many parents choose not to return to work in the early years. Personally I did decide to go back to work, as although it was painful for a few years, I have got those years on my CV, have had payrises etc in that time, so am much better off now than some of my friends who are now trying to return to work after a long break.
This is of course a highly personal decision with pros and cons either way.

Have a look at the entitled to website and plug in what your figures will be when baby goes to childcare, and you may be eligible for some funding.

SayNoToCarrots · 05/08/2019 20:05

Your partner would miss out on career progression and pension payments if she does not go back to work. There are childcare tax schemes which knock off (I believe) up to 2k and at 3 you get a contribution from the govt towards childcare.

drspouse · 05/08/2019 20:04

And you also need to add up how much you'd lose long term if your partner does not go back to work. By the time your children are in school and childcare costs ease off, lack of career progression will have cost a lot.

MyDcAreMarvel · 05/08/2019 20:04

This is incorrect. Half of the cost of childcare would come from your salary.
Yawn, household income is what matters.
Op look into tax free childcare.

JoxerGoesToStuttgart · 05/08/2019 20:00

By the looks of things, the childcare would take about 70% plus of my partners salary if she goes back to work.

This is incorrect. Half of the cost of childcare would come from your salary.

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