AIBU to think I can't financially afford to take this job?

[Littleen]

I'm looking to get a job, after being at home for a year and a half. Before I got pregnant I was at uni, so I don't have any relevant work experience to speak of, but I do have a degree. Getting a relevant job is very hard, and so I've come to the conclusion I need to just get any job for the time being.

I had an interview today for a data input type job, in a location that I can cycle to. However it only pays 16k per annum. I was aiming for more 17.5k, which is what my partner earns for an "untrained" office job. We calculate my income as if I have to pay all the nursery fees just for simplicity. I currently have no income.

I have used www.thesalarycalculator.co.uk/salary.php and it says I will take home £53 per day effectively, however nursery fee is £57 per day. This is the only childcare option, and we have no family nearby that could help out. So - not including any benefit, I would be worse off.

My question is, are there benefits that would make this viable at all? We already get tax credits, but I am unsure what would happen if I was to take this job with that. Can I afford to take a job that pays so little, when nursery fees are so high?

[[https://www.gov.uk/help-with-childcare-costs/overview ]]

Do get DH to ask about cc vouchers - could make the difference between viable and not.

How many jobs did you apply for before getting this offer? And does it have prospects of improvement? Is it a small company run on a shoestring that's always going to be strapped when it comes to pay rises, or a larger company where there is progression to be made if you prove yourself? That's a huge issue when it comes to this decision - is there any realistic possibility of you getting a better paid offer, and is this job going to start paying more anytime soon?

Actually just seen the pps, and they're right - at your joint income cc vouchers are unlikely to be the best option.

Can I ask if there's a reason why you're going through an agency? Your potential employer will have to pay their fees so your negotiating power is reduced. Are there similar companies you could approach directly?

There's a tax credit Calculator which will tell you if and how much tax credits you might get, don't forget the answer it's gone you will be for the remaining financial year so you need to work out how much per year.

I don't know about childcare tax credits so as other people have said, you need to speak to someone / do your research about what you would be entitled to under rare scheme.

Also most nurseries do not charge 5 x their daily rate if you are full time. So if it's 59 per day (which would be £295 a week ordinarily) you'll probably get a discount on that (using 10% as an example, it'd be about £265 a week). If you and your H Can both get the childcare vouchers through your employers, you could save the tax and NI on the first £110 of that. So the real cost to you would be about £225-230 (just rough figures). If you get £53 a day, you'd make something, albeit not very much. It wouldn't be a loss though.

And as others have said in 18 months or so, the childcare feed would go down.

I don't think it's a dead end job. You can argue that there are at least some transferable skills when you get an interview for a better job. You might also get pension contributions from the employer, other benefits?

You won't be eligible for a funded place until your child is 3 because of your income so that isn't an option. As pp says it most likely won't be the daily rate x5 either so I'd lol I to it. You can also get child tax credits childcare element so phone and ask

Look into it *

Early 2017 the replacement for childcare vouchers is supposed to come in. It has been delayed already, but would be available to both of you. I think if you can get childcare vouchers, it would be better on your income. There is a gov website you can put info into.

There's so many calculators and options and whatnot, I am just really confused. I think I will have a chat with the nursery on Monday, and take it from there. I do have another job interview on Monday, for a much more suitable position that is not as 'dead end' as this one. I hope I can get that instead. Thanks for all the advice!

You will get money from tax credits towards childcare.

There is a calculator on the website, just remember to divide the amount of award it gives you by the number of weeks left in the financial year.

It isn't too tricky. 1) Find out cost of childcare, 2) Complete the hmrc tax credits calc, 3) google something like "tax credits vs childcare vouchers" and see what that calculator says. But, if you're struggling go to the CAB. I had to do/sort all of this with a week's notice (eh h was SAHP and left) and found it okay to understand after had looked at each thing a couple of times. Maybe do it tomorrow with a fresh brain hopefully make more sense then! And good luck with the interview!!!

www.moneysavingexpert.com/family/childcare-costs

this is useful guide to difference between tax credits and and childcare vouchers. I use general rule of thumb that if as a couple you earn under 42k then your usually better on tax credits.

the hmrc tax credit calculator is the easiest to use as you just out in your income, partners income and how much your childcare costs, then gives u estimate of tax credits you would get.

www.gov.uk/tax-credits-calculator

I was in a similar position earlier this year. Got offered a job which I wanted to take but after childcare and travel etc I'd actually be over £100 per month worse off than I am now.
Although some might say "take the job as its a step on the ladder/could lead to other things etc" it's not that easy when you are down to your last quid at the end of the month. We simply could not afford for me to take the job.