Is £500 a month a reasonable earning goal?

Definitely worth it! Actually, it's helped me in 2 ways as I've also had loads and loads of emails from people wanting a website building cheaply so it's boosted both my businesses!!

Good luck with yours!

Thanks for letting me know HellyBelly. I guess I need to get on the advertising trail then.

If I were to have just my 3 F/T children (2 termtime only + 1 all year) it would be about £1500 pcm (but the all year one starts nursery in sept - haven't worked out how much I'll lose)

I charge £3 phr going up to £3.20 in September
I also have 3 x 2 days each and one for just 3 hrs plus some other bits & pieces. They all add up

mum2akebk - my children are ALL through my own advertising where I have my website link (or details on poster). They all said that they contacted me after seeing my website and wanted to meet me. The first one was through my advert on mumsnet and was within 24 hrs of advertising (although I've only had one more from mumsnet since so was just lucky that time). I've had more enquiries too but ones I couldn't accept due to being full on those days.

I had my one and only call through CIS last week which was regarding a possible additional needs child. In my area I was told that the average wait for CIS related calls was 4-6 months which is why I built the website whilst waiting for my certificate. It's certainly helped! Market yourself as much as possible!!

HTH

I have two children, for 30 hours a week (3 10 hour days) and I get £192 a week so it works out at 800 a month before any deductions or tax etc.

Hi, hope you don't mind me joining in.

It's really interesting to see how many children you all have and how much can be earnt. At the moment I am only looking after 2 after school children during term time. I earn £68 per week but I have 13 weeks without pay, which I really cannot afford. Can I ask, HellyBelly did you find the children you are minding now through your own advertising or was it through children's information service?

By the way, that's what I get but doesn't take into consideration the expenses or any tax as I'm not at that stage yet.

Thanks Katymac & Theprisoner - I think I will go with mileage then as it seems better in the long run!

Peckarollover - I became registered at the very end of May and at the moment, have a 2 year old (30 hours a day, Mon - Wed) and an 18 month old (6½ hrs a day on Tues & Thurs). I don't have any school runs yet as I haven't really got my name round those area's yet. I also have another 2 kiddies over the school holidays but I count that as extra income as it wouldn't be part of my monthly income. For my 2 yr old I get £409.50 a month (includes £1.50 each day for cooked evening meal) and £182 every 4 weeks for the 18 month old (no meals included).

HTH

I'll answer that,From setpember I will be looking after 5 children (I 1year old and 4 schoolies- all different hours) Work for approx 30 hours and will earn approx £400 per 4 weeks. It has taken me approx 18months to get my business up to this level.

HTH

Putting the mileage allowance on expenses is usually a much better deal than doing the cost of the vehicle/servicing/repairs for most minders (even for me, and I've got a dirty great minibus!!)

The amount of money that you spend on your job really can mount up - and don't forget that 10% of your earnings should get put down as general "wear and tear" as well.

We also had some major work done on our garden, which was for our own family's benefit, but I had to be aware of safety issues for my work (no poisonous/thorny shrubs and plants!) and also included a larger patio area than we needed to use for sit'n'ride toys, and a purpose-built area to house the climbing frame/swings etc., so I put down a sizeable chunk on my expenses that year.

You can't claim your chiropractor's bills on your expenses (despite the fact that my chiropractor has said that my problems directly relate to continually lifting/carrying children) - apparently, it is a "self-induced injury"!!!!!

I found that the 40p a mile worked out better over 5 yrs, then the depreciation plus expenses for that time

I ran the 2 senarios and put in estimated mileage/serviceing etc and for me the 40p a mile was better long term. If you are going to do it the other way - you need to think about an accountant.

I'll speak them then - thanks so much for that! As for the people carrier, I'll ask them as I'm only getting it for childminding. It's just that I thought you couldn't do huge things like that?? (can't remember who told me so will ignore that and ask anyway!)

why can't you claim for the mpv? Or at least half?

No - she volunteered to come to the house - phone your local Small Business team at the IR

Thanks Katymac, that's GREAT!! I didn't realise I could claim that lot and was worried I wouldn't be making much money so that helps!

About to buy a people carrier as I've got too many kids to fit in my car during the hols and school runs. Don't suppose I can claim for that?? only joking!

Did you have to pay for that advice from tax inspector?

Sorry - I pay a package to BT so all phone and broadband included(just 50%) remember ofsted require you to have access to a phone

OFSTED need all pets that can be innoculated - to be innoculated so therefore yes (esp if you didn't before & we now have both cat flu & leukemia (sp))

For the others CT, WR & Elec are set by IR & NCMA

50% for phone/mobile/tv/sky on advise of my Tax Inspector (Small Business Advisor)

50% Toiletries (loo roll soap etc) & 50% cleaning (bleach/cif/washing up liquid/washing powder etc) + milton/wipes/suncream at 100%

hth - any more q's just ask

KatyMac, I'm fairly new and have been keeping all sorts of receipts etc but haven't yet needed to do a tax return. I have a cat - can I really claim for injections etc and vets bills? I must admit having my cat has helped as all 3 mindees so far love cats and want to cuddle him loads

One thing I must start doing is writing down mileage (keep forgetting!)

Are you also really allowed to claim the Sky subs, broadband etc? Is it a certain %? As for phone, presume you have to keep tabs on calls and just claim for childminding calls? My mobile is pay as you go so I don't get a bill which is hard. I've already had to send quite a few texts to one person.

Any help would be great!

That's right, ThePrisoner, I was buying equipment from my DD for the business in the first year

Also I have income from another job so was quite happy to make a "loss"

It's a good idea to keep a running total of expences/income (including the hidden expenses like Council Tac, Water Rates, TV license, Sky Subs,HH Ins, 40p per mile, season tickets to local attractions, food, toiletries, cleaning supplies, craft supplies, proffessional subs, magazine subs, stationary. broadband,phone, mobile phone, electricity, I pay a gardener, wouldlike to have a cleaner, fish food, Guinea Pig food, Chicken food (but not cat food as we already had the cat - but I do claim his injections & vet bills), computer purchase & printer inks.....I may think of more later)

I would recommend any new childminders not to go mad buying equipment and toys to suit all ages until you know what ages your first mindees might be. My first minded child was a small baby, and I didn't need a high chair, toddler car seat etc. for some time.

With regard to being seen as a low-earning profession - many minders do the job to enable them to earn money whilst looking after their own children at the same time, which would restrict the number of minded children they could have (and hence less money).

Many minders are unable to fill their places for a variety of reasons, so may find themselves earning a paltry £3.00/hour for two days work, because that's all the work they can get. Some minders don't want to work to full capacity in the first place.

It is the nature of this job that you have no guarantee of income from one month to the next (as for all self-employed).

My own children are well past the age of needing a mummy around, so I can have the maximum number of paying children. I've been minding for years, and rarely have to wait for long to fill places. I'm very very lucky, but I work jolly hard to earn my money. There are few who work to full capacity, perhaps by choice, and they are the "low earners".

ThePrisoner (or may I call you No6)
I bought some wacking great equipment (wendy house/climbing frame)& lots of wooden toys, I live in the middle of nowhere (so have to drive everywhere), I decorated a conservatory (first yr and second cons in the second year) including furniture.......

......and I used to work for the IR (which helps when reading tax info)