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Original poster

High Childcare Costs - work for negative money?

82 replies

Camomila · 07/09/2020 06:31

Just wondering how many people end up doing this?

I'm on mat leave atm, I earn £67 a day, a baby place at nursery is £63. Add in the train fare on rainy days and I'm going to work for zero extra money in the pot.
But...there is a massive recession and I should hold on to my job shouldn't I?

Please tell me what to do wise mumsnetters!

OP posts:
reluctantbrit · 07/09/2020 07:28

Go to work. It may be look bad but in 2 years you get the 3 year funding which will save you money.

Try to get as much help as possible with tax relief.

Could you both look into working compressed hours/reduced hours so you have a day off?

Look through bills and see if you can save money by switching providers, cancelling subscriptions?

I wouldn't stop working in these times, recession, loss of jobs through all sectors, interest rates will rise again, Brexit - all this will have an impact in the next years.

Letsleepingdogslie8 · 07/09/2020 07:30

Having two children in a nursery (average cost of £1000 pm full time per child) is the equivalent take home of a £40k salary. We couldn’t have been more relieved when DS1’s 30 hours kicked in.

But it is worth it to keep a job.

Original poster
Camomila · 07/09/2020 07:32

I was part time before so I assume I'll be going back to my same 3 days.

I think everyone is right saying that it'll get better, nursery gets cheaper at 2/I might get a better job in the future etc by staying in work...I'm most likely going to gi back.

I'm just feeling very jealous of my cousins in Europe with their heavily subsidised €200 a month nurseries atm though Grin

OP posts:

Interested in this thread?

Then you might like threads about these subjects:

Antenatal & postnatal Childcare & nursery Families Maternity leave
victoriasponge678 · 07/09/2020 07:46

Have you looked at child minder options ? Sometimes are cheaper ? Your nursery seems very expensive.

Once you add in the tax savings for child care you may find you earn a bit more and also it's only until child is 3 and you get child care vouchers.

UnexpectedItemInShaggingArea · 07/09/2020 07:55

I'd advocate going back.

Pension
NI contributions
Paid holidays, sick leave
Death in service benefits?
Improved salary increase/promotion opportunities
Adult conversation!
Better financial resilience for the family (in case your DH loses his job)
Better financial resilience for you personally.

jujubeany · 07/09/2020 07:56

Why not give up your job and look after you child, are you planning anymore?

Personally I think it's quite hard to get back into work at a similar level if you take a long break. I started a new career after DC1 so it was slightly different but I found it much easier to get my head down & progress when dc where in childcare whereas now I can ease off a bit & be more flexible as school is a shorter day.

amgine · 07/09/2020 07:59

Yes, I did this whilst we had two in nursery - and it’s worth it! I’m so much further on in my career than of I’d taken 5 years out. Especially if you are in a fast moving sector (IT in my case). A massive gap would have made it so difficult to stay current and have relevant skills and knowledge.

ivfbeenbusy · 07/09/2020 08:01

Nurseries are expensive

Childminders can be 1/2 the cost - childminders in my area are around £35 per day - sometimes you can't be too picky about childcare options

ivfbeenbusy · 07/09/2020 08:03

I'm just feeling very jealous of my cousins in Europe with their heavily subsidised €200 a month nurseries atm though

Childcare in THIS country is subsidised by £200 a month if you open a tax free childcare account........

minnieok · 07/09/2020 08:11

I stayed home until both my kids were at school, they needed me. They went to 1/2 day preschool from 3 (free) otherwise I looked after them. I wanted to give them the best start. Might not be the best for careers but I chose to have kids

UnexpectedItemInShaggingArea · 07/09/2020 08:12

@minnieok

I stayed home until both my kids were at school, they needed me. They went to 1/2 day preschool from 3 (free) otherwise I looked after them. I wanted to give them the best start. Might not be the best for careers but I chose to have kids

You might not have intended for that post to be massively goady and guilt inducing but that's how it comes across.

Have some bloody empathy!

HorridHamble · 07/09/2020 08:13

I had to do this for a few years, 3 days a week. It was tough sometimes, but I got some help with childcare vouchers and was eligible for tax credits. I’m very glad I did, as I ended up getting a promotion and now that both DC are at school, I have more flexibility, increased hours and reduced childcare expenses. I didn’t have a DP/DH to share our living costs though, so I didn’t really have a choice.

Goostacean · 07/09/2020 08:16

@ivfbeenbusy

I'm just feeling very jealous of my cousins in Europe with their heavily subsidised €200 a month nurseries atm though

Childcare in THIS country is subsidised by £200 a month if you open a tax free childcare account........

I think OP means the childcare only costs €200 AFTER the subsidy.
EasterIssland · 07/09/2020 08:19

@ivfbeenbusy

I'm just feeling very jealous of my cousins in Europe with their heavily subsidised €200 a month nurseries atm though

Childcare in THIS country is subsidised by £200 a month if you open a tax free childcare account........

My friend in Madrid is going to pay £400 for her sons nursery full time. It includes food and everything. She thinks this is expensive comparing to the other nurseries that are around. If she had a public one (she can’t cu of her salary) it’d be 120 or so

I pay 1.2k for my son and no I don’t get £200 every month because it’s 2k for 12 months so more like 166. Still a big difference to what other people pay for nurseries in Europe

Aveena · 07/09/2020 08:22

They went to 1/2 day preschool from 3 (free) otherwise I looked after them. I wanted to give them the best start.

We sent ours to an excellent nursery for half the week because we wanted to give them the best start, the setting giving them a lot of socialisation and education they wouldn’t get otherwise. But then I don’t go round preaching about that as a judgy fucker.

snappycamper · 07/09/2020 08:23

I had this choice OP and chose to go back part time. The amount I worked varied over the years but for the 6 years between 1st mat leave and the youngest starting school I stayed in the work force and it was absolutely the right thing to do. When I was ready to focus on career/promotion I was in the right place and it was easy to get myself back to the level I'd been at previously (I took more junior roles to go part time). I was able to cover my costs so wasn't out of pocket but honestly I think it would have been worth making a small loss.

Quite shocked at the PP who said they don't know anyone who regrets leaving work to stay at home. Honestly I think this is deluded. I know so many people who gave up careers and massively struggled to get back to work. The only way any of them have managed it is by becoming self employed. My kids are older now and a lot of my peers are trapped in crappy marriages with sexist men who they can't leave because they have no financial independence. I think me working really helped to maintain parity between DH and I in our partnership. I'd be so resentful of him now if I'd stayed home and he refused to acknowledge what that had allowed him to do (as is the case for so many of my friends)

snappycamper · 07/09/2020 08:24

@Aveena

They went to 1/2 day preschool from 3 (free) otherwise I looked after them. I wanted to give them the best start.

We sent ours to an excellent nursery for half the week because we wanted to give them the best start, the setting giving them a lot of socialisation and education they wouldn’t get otherwise. But then I don’t go round preaching about that as a judgy fucker.

Grin
Parker231 · 07/09/2020 08:25

The early years are financially tough but if you already have a nursery you like and trust, it’s worth it in the long run. I went back to work full time when DT’s were six months (normal maternity leave then). My career wouldn’t have survived a long time out. DT’s are now 21 and we can look at and see that it has all been worth it.

Original poster
Camomila · 07/09/2020 08:25

Yes, that's what I meant - I just googled the nearest posh town to where I used to live in Italy (because I live in SE England so comparing 2 expensive places) - most expensive nursery place is €385, the article is complaining because the average is €270 a month.

OP posts:
1990shopefulftm · 07/09/2020 08:26

It's a personal choice for you to balance what you feel is important to you as a family.
I m on mat leave about to have our first and we re in a very similar situation with it not being worth us both working.

It's likely I m not going to go back to work for a couple of years, child benefit gets you your ni contributions for a while and I m 25 and we re homeowners so not so worried about pension contributions as I ve got time to build it up and there's the possibility of other options to increase our pension pots by selling the house.

However, my dad died in his 30s and worked 6 day weeks and what I cared about was that I got time with him not how much money we had as a family after he died so that has shaped my view on having them in childcare for 5 days a week for a negligible financial gain to our family.

LajesticVantrashell · 07/09/2020 08:32

Yes, it's worth it. Costs go down each time they move 'rooms' and need less supervision- baby rooms always the most expensive.

DS got his 30 free hours in April. By then, I'd had two payrises and our financial situation was much more comfortable.

IF you can afford to, get your head down and power through these two years because things will be much better when they turn three.

motheroreily · 07/09/2020 08:34

@Camomila

I think DH has kept his childcare vouchers account open from work, not 100% sure how much we'd save but better than not saving anything!

I have found slightly cheaper nurserys but DS2 is only going to be 10m, so I want to send him to DS1s old nursery as I know/trust them, especially as visits/settling ins will be different atm. DS1s old, lovely key worker is now in the baby room which I find extra reassuring.

I have 2 months to decide anyway so it might all be moot due to coronavirus if cases go up lots etc.

@Camomila look into tax free childcare if his voucher account isn't open.
Gazelda · 07/09/2020 08:36

@minnieok

I stayed home until both my kids were at school, they needed me. They went to 1/2 day preschool from 3 (free) otherwise I looked after them. I wanted to give them the best start. Might not be the best for careers but I chose to have kids
Listen up all you mums! Read this to discover how to be the best mum possible. Hmm FFS.
NaughtipussMaximus · 07/09/2020 08:39

Think of it as future-proofing your career and earning potential. Especially as we're heading into a recession.

ivfbeenbusy · 07/09/2020 08:42

@minnieok

I stayed home until both my kids were at school, they needed me. They went to 1/2 day preschool from 3 (free) otherwise I looked after them. I wanted to give them the best start. Might not be the best for careers but I chose to have kids

👏👏👏👏

Aren't you smug

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