To think we can afford a nanny?

[Howdyhihi]

We have 3DCs. Still on mat leave with the youngest, other DC's are primary school age.

If I go back to work full time our joint household income will be about 60k after tax. In an ideal world, we'd like one more DC fairly soon. I've been trying to figure out childcare. DH is out of the house 7 - 5 and I'm out 8.30 - 6.30 (often later).

I figure a nanny sounds like a good way to juggle school runs, after school activities and infant childcare. I assume one will come to around 20k a year? When I do the maths we're still in the green, the other biggest cost for us is about 14k annually on the mortgage. (We're in the Midlands, not London).

Yet I feel like we don't earn enough to be able to afford a nanny! Are there hidden costs? I think it'll work out more cost effective than 2 DC's at nursery and then paying extra for wrap around care for the older two. And we'll get an easier life.

Is anyone already doing this? Should household income be higher than this before committing to a full-time nanny?

It’s not aiming for 4 children that makes you irresponsible-sounding. It’s not doing adequate financial planning, one child (or 1.9) or more.

As if, frankly, turning to MN for advice on employing a nanny. HMRC is your friend, as a starter. Responsibility for hiring a nanny is far too serious for an online chat forum.

I have a friend who has a nanny. She lives in the Midlands.

She has a six figure income. I don't know how much her nanny costs. I think she is able to save on tax for her nanny. Similar to childcare vouchers.

Her husband's income is much smaller. About 30k. She is the main breadwinner and was very keen to get back to work, and as she does long hours, and has two children went for a nanny.

She has said its no dearer than two in full-time nursery. Presumably two in nursery would be £500 plus a week.

7salmon I can't see how the op is being irresponsible asking for advice on a website which is specifically here for, you guessed it, advice!
Obviously op would need to research things further but mumsnet will be a great place to start because there will be lots of people here who do use a nanny!

You need an aupair for your school age kids who can drop them, pick them up, do some tidying and give them dinner for about £75 a week and put your little one in nursery. Au pair can also babysit a couple of times a week so you can have a social life and once she gets to know the baby she can be left with the baby for an Hour or so while you take other children to activities.