to ask how much money you have left each month after paying childcare and work related costs?

[Minicooper]

Just looking into going back to work and weighing up my options. Wondering what you do and whether you make anything financially or if its more a case of keeping going professionally (and staying sane!) And at what point you start actually making some money again....

With one child I was making 50-100 per month... so breaking even with travel etc. With 2 kids I was going to lose 400 a month so I didn't go back

I have 2 yo twins, childcare costs approx £1600 per month for 3 days a week. I have approx £1k left each month. About to go up to a 4 day week though so that will increase a bit, but still nowhere near what I used to bring in pre DCs!

Yikes - everyone in a similar boat. That doesn't sound too bad, ceeveebee...

The problem is if, like me, you live in an area with very little choice of providers. The few that there are then charge ridiculous prices - childminder at £6 per hour per child who, after school takes on numerous over 8's and thereby makes a fortune and lowers the quality of care, and is putting their fees up by £1 an hour with no explaination.

I don't live in London. I live in a suburb, nowhere special, house prices and cost of living aren't extortionate. It's just her fees.

I'm now going to be cutting my hours so I can claim tax credits and use less childcare - this will make us financially better off.

That's really not right.

Are you taking into account your partner's salary as well? So it's what's leftover after you have combined salaries and then deducted childcare costs?

It's not right is it Norma; it's a mad situation.

However id think very hard about reducing hours, as it will affect your pension and also with the changes to the system, you could find you're worse off soon

I cut down to 3 days a week for just 5 years, while my dc were pre school. Before and since then I've worked full time. I was gobsmacked to realise just how much that's knocked off my pension... Even 5 years of part time out an entire career have a quite an impact, though fortunately I have a very good pension deal to start with.

I can see your frustration but I think you have to play the long game here. The next big crisis is going to be the thousands of people who don't have adequate pension provision (sadly mostly women) and realise too late.

I can't afford to play the long game though. We have costs that need meeting now not in 40 years when I retire

If we just had my salary alone & the kids were in full time care, I would be -£200 out of pocket each month. However DP only works part time & my mum has them on his days so we have no childcare costs. If DP goes back to work full time I will have to stop work as the money will be impossible to make work.

I suppose so, MrsDe - obviously when I go back all costs won't come out of my salary, but costs relating to my work and childcare would be incurred by my going back, iyswim. So in that sense, it makes sense to look at those costs from my salary. I'm not paying half the mortgage/ bills etc currently as I'm not earning, but would do if we were then earning similar amounts.

Pension wise, I think I'm probably screwed....

When I went back after DS2, so had 2 in full time nursery, childcare was 1600/mth so I was earning 400 plus childcare vouchers plus pension.
Now DS1 has started school, it averages as earning 900 plus childcare vouchers plus pension.
I know I'm very lucky in terms of salary.
There seems to be 2 ways to go back to work - earn decent money, or have family cover much of the child care. Otherwise, its SAH time. I'm very lucky that I can afford to go back to work. My mental health really suffered at home with (very much wanted) small people.

I take home 1200 after child care. I work 21 hours a week DD1 gets her free 15 hours I just pay £4 a week extra for her to stay for lunch 2 days. DD2 does 13 hours in nursery. I am very lucky that my mum has them both one day and my DH works 4 and a half days so has the kids one afternoon.

We both work ft but Dh asked under the flexible working thing to work 7-3 instead of 9-5. This saves us 30hrs a week childcare costs as I do drop off and he does pick up (two school age and one toddler).

So that's roughly £600 a month saved.

Can you work out something similar?

I work 3 days a week and pay £60 a day for both kids.
Minus 90 a month travel costs I have about a grand left out of my salary. I would weep at paying 1600 a month in childcare

Blinkin eck these fees really make me wince! I dont have any children yet but someday we would like to and the thoughts of childcare costs already worry me!

I know, beansprout - scary isn't it?!