To be sad that I might not be able to afford to keep my job?

[Octopirate]

I unexpectedly fell pregnant last year after only being in my job a couple of months. I worked hard to try to impress my new employer and they have said to me I can pretty much choose how many hours I want to do should I return after my mat leave. I love my job, I like the people I work with and although the job doesn't pay much it has room for progression later on.

At first I looked at nurseries, which are far too expensive! I have lately been looking at childminders, who are generally much cheaper, but even then, their fees coupled with the cost of travelling to work each day I would be making a loss if I go back to this job.

I wanted to keep this job part time as a foot in the door for when DS goes to school, an investment for mine and my family's future. I have been looking at other jobs a bit more local to me and there is literally nothing! I live out in the sticks so I would have the issue of paying for transport whatever I do, but I am going to keep looking. The other option is to do something in the evenings so DH can take DS, but DH can earn alot more from doing overtime at his job. We need weekends free to visit family etc.

I am so gutted that it is back to the drawing board with my job, I have worked since I was 16, through uni etc, bar a brief period after uni during which I volunteered while job hunting. I just cant think of any other option but to give up the job I have. I also feel like I will be letting my employers down after they have been so great. Thanks for reading my vent if you got this far!!!! Any other's out there who had a similar situation?

Could you work part time, eg two 10 hour days, would give you half the salary of an 8 hour per day week, but less tax and only 2/5 of the travel costs. Obviously childcare per day would be more, but less days.

It's amazing what you can cut back on when you have to. Look at ways of budgeting so that you have the money to cover the essentials ( I class travel to work & childcare in those costs in this case) & then the rest is non essentials. Even in an expensive residential area you can find cheaper shops for groceries, cut back on trips/meals out/expensive clothes.
Re -sell any children's clothes/toys on EBay as Dc grown out of them as they are often hardly worn thet grow so fast!

All pennies but it all adds up & really you are investing in your future, both yours AND the families so it will be worth tightening your belts in other areas for the long term gain. I second seeing how much you could work from home, do you have any family that could help out ?

Good luck with talking with the boss. !

I have a friend who payed for herself to work for the first two years, it was only a small amount, but with two children, one in nursery and one in after-school care, that was more than her income.

It did pay off in the longer-term, though, she was a nurse so kept her registration active, plus once both were at school which was quicker than she thought, it started paying and now there's no childcare costs so she is extremely glad of the work, part-time.

I would see childcare costs as part of the family income and go from there.

Have you considered your pension and employer's NI contributions?

Your situation - one parent's salary barely/not coveting the cost of childcare and other expenses associated with going to work - is not uncommon at all. There are almost weekly threads about it on here.

When I was in this situation I regarded working for "free" as a long term investment in my life-long income, pension, employability, professional career and self worth.

All being well, as time goes on your childcare costs will only go down and your salary will only go up.

I echo the poster above re your pension, if you're already in a work pension scheme then please factor that into your decision.

You also need to get your dh to look at adjusting his work

Ie if you both Worked say 9-5, mon to fri, would would need 8-6 childcare on average. However if say your dh could work mon-thurs 8-6 instead with fri off and you the same with mon off, then you would actually only need three days childcare.
Or one of you start work at 7am- 3pm, and the other 11am-7pm. Same hours as the theoretical 9-5, but you would need childcare for less hours in a day
Combining the different options of longer days but less days, or early starts v late finishes is the main way most people successfully work without full time childcare costs. You could potentially half the costs this way

Have you looked into carpooling? It sounds as if the company could be flexible with your hours, so if there is someone you could carshare with that could help, even if it is just part of the journey.

There are several web sites where you can register and search.

(This is assuming you’re driving now, hope I didn’t miss any info)

Rule of thumb with tax credits. If u earn over 40kjointly then your better off with vouchers. There's a great guide on moneysavingexpert.com to help you work out which is the best. The 26k limit does not apply for childcare claims on tax credits as said you would get money towards childcare if u earn above this amount.

Also if u didn't get much money during maternity leave your income for last tax year would be lower.

Plus, if you have another child, you will not get any pay after the next baby is born, if you have not been working. That alone could make it worthwhile!

op I know exactly what you mean, my wages alone wouldn't even cover my nursery fee's! Luckily I get tax credits, but it's frustrating how bloody expensive it is!

Reminds me I have send my childcare vouchers off today....

You need to look long term. For 8 years my childcare costs took all of my salary. However I was still able to pay into a private pension, keep my continuous service and now have no childcare costs as I have negotiated Sch hours. I'm also going through a divorce so it has meant that I don't feel so scared about my finances as hopefully I have a secure career job.

It's all very well looking long term but sometimes the figures simply don't stack up.

We were faced with a similar situation (altho I hated my job, but would have liked the option of continuing working then getting something somewhere else). Dh earns too much for any help, but with childcare and fares we would be £500 a month worse off. As we have £300 after bills to live on it would mean we'd be up shit creek. So it means no work for me till the DC go to school.

SophieElmer, of course it's possible to be in this situation. Mortgage, council tax and fares eat 2/3 of dh's salary. I would need to be earning 33k to Break even. And I don't. :(

FYI re wfh, ensure you can answer questions like 'how will dc be looked after whilst you work?' Many employers refuse as they know mum is actually carer. You must answer convincingly if you are carer. Simply as many employers don't allow it due to insurance as nothing's been tested as to what happens if johnny falls over while mums on a conference call.

So, either don't do it, or do but think about what you might be asked.

FYI, I need to earn 27k for two in care in Essex. Roughly. As some seem to find it mind blowing that care prevents work....

Definitely consider childcare from both your salaries, etc.

However, have you thought about moving? A rural location could make your lives expensive and hasslesome for years to come!

Hmmm...its a difficult one. I knew I wanted to continue working so I would go back even if I broke even.

Can you survive on DHs salary alone? If so, then you only need to earn enough to cover your costs of working.

It will always be worthwhile to keep your job in the long run. Try to see if you could do 1 weekend day instead of a weekday & save some childcare there? Also late start & late finish can reduce your childminder hours? No matter how financially mad it sounds in the beginning it will make sense in the end - especially if you love your job & it seems like a long term employment option.

Don't forget the 20% childcare rebate you are going to get per the new Budget.

Good luck!