How much would you get as take-home pay, if you CM for one full time under three?

[bronya]

Thinking about the future, and how with two children financially it will be really hard if I work and pay for child care (household income will decrease more than if I don't work). My career is one you can easily come back to after 5 years or so and a refresher course, so was wondering about being a CM for those years. I'd have two under 5, so would only be able to take on one more - how much (roughly) would that give me as income after tax and expenses? I'm in the south-east if that helps!

You wouldn't pay tax on what you would earn, national insurance contribution is about 11 per month I think.

Expenses are what you want them to be, you can go wild and spend a fortune or make do and get crafty to make your own resources.

I am south east too, I charge £3.75 per hour for under 5's so X that by however many hours a week you want to work.

Find out how much other childminders cost in your area to see how much you could make per week. I doubt there would be any tax to pay and nat ins is £2 and something per week. Other expenses are minimal when you have your own young children at home if you are willing for your children's things to be communal things. It's not big money, but it fills a gap in our finances.

What would you charge?

I charge £3.50 an hour, so would be looking at taking £30-£35 a day.
So £150 a week, less food costs and other resource costs. There would be gas and electricity as well although if you are at home with your own you'd be paying for it anyway.

I also find it useful add on the cost of putting my own two into Childcare for me to go out to work 2/3 days a week . It makes me feel better.

When I first started minding I had a little chap of 7 mths, He was with me Mon - Fri, 9am - 5pm, I charge £4ph.
So say for arguments sake 4 weeks in a month = £640.

He is no longer with me :-( and I only have after schoolers now ;-)
Last year was the 1st year I paid any thing (£39 I think it was) to the Tax man.

Thank you! That does sound do-able, and an awful lot more than I'd get if I had two DC in childcare and I was working in my current job!

I did think if we just had one mindee, they would become like an honorary part of our family, so sharing toys etc like a cousin or family friend would. I was thinking of offering hours 8am to 6pm to allow for travel to/from work. DH works longer hours than this incl travel time so it wouldn't impact on him at all.

Also remember, OFSTED registration fee, insurance, ICO licence, they have now started charging people to do their own CRB checks for anyone else in the property over 16, cost of contracts and paperwork, (although you can do these yourself if you are confident) you will have to do learning and development, so possible extra ink in the printer or resources to show what you are doing. My first aid course has just cost me £100 (once every 3 years) and things such as Safeguarding courses which are now charged for as the LA is removing funding for training in my area. and although you put it all against tax, remember only 20% is allowed for. I have only ever had 1 full timer in 10 years, the rest have been part-time (24 children) it can be very worrying when you loose business and haven't had enquiries for a while. Check there is a need in the area.

I charge £45 for a full day, so for a full timer that would be £225. I don't charge for my own holidays, bank holidays or illness, which all adds up to roughly 5 weeks per year. So £225*47/12 gives £881/month of income. With only one full time child in the past I found that I was spending about £150-200 on expenses per month. That includes Ofsted fees, insurance, NI contributions, food, outings, toys and resources, masses of printer ink and photo paper and lots of other bits and pieces. So in the region of £700 income per month. In addition there are the big ticket items like a double buggy and extra car seats that you need to buy as a once off. Hope that helps

Don't forget that there are not that many full time enquiries going round. I have been childminding for over 5 years and in that time I only had 1 child attending full time. All the other children were part timers ... mostly slotting around each other nicely but I did have a period of time when I could not get a vacancy filled as one child took 2 days and the enquiries coming my way included one of the days I had no space. Also if you get one child only you make yourself financially very dependable on that income. I found it's better to have a couple of part timers as it gave me a break and more security if one decided to leave.

Thank you so much everyone. All the replies have been really helpful!

also, be sure you know how much of an impact it has on you, your home, your children beforehand. it's best to start off with a part timer doing short hours imo in case you absolutely hate the job or your children can't take the intrusion. i sometimes work 8-6 and its a killer. also, not all children will become a 'honoury member of the family' nor will you gel with all parents. best to start off part time i think as you could burn yourself out quickly working 8-6 mon-fri. it is not like other jobs - and there is no break!!

I only have one minded a day for 10 hours. My income is about £500 a month.... About £250 aft expenses. That's for 40 hours a week! It's not easy to get into now though. Registration can take up to 18 months. You need to complete cypop5, first aid ( cost up to £120) and safeguarding (£30) before you start work and a DBS check is now £60 plus the extra hours after work has finished doing eyfs work!