Is CM cheaper than nursery for 2 siblings?

[MrsHelsBels74]

Got paid today and after nursery fees I got £79. I'd always assumed CM was more expensive than nursery but someone suggested it as a cheaper option. Obviously it depends on region/person etc but generally is it cheaper?

It is for me, £4 per hour for dc1 and £3.50 for any siblings at cm and I only pay for the hours I use but you will only know if it's better for you by asking local cms what their rates are and comparing it as it can vary wildly from area to area. Also of course it depends how much your nursery costs and whether you need the full sessions or would be paying for less time at a cm.

You would need to compare costs over a year period. Some nurseries include things that others charge extra for, same with childminders. Some charge per session, others per hour. Some let you add on time, others do not.

Your local family information service can give you a list of local childminders and nurseries. You could ask some providers about fees, what is and is not included in those, what fees apply when they are closed, what fees apply when you don't need them such as when you go on holiday, see if you can come up with yearly figures so you can compare the cost.

Ok thanks for the info.

Also check if you're eligible for help with childcare cost through childcare element of tax credits or childcare vouchers via your employer. With only £70 left in your pocket you should be able to get some help (that's assuming you're the only bread winner - as you've subtracted the childcare cost from your own salary not from household income if you had a partner earning as well).

Agree with the checking what it will cost you over a year - what's included,(wipes, nappies, food); do you have to pay 'per session' or for the hours you book (only relevant if you need shorter hours); What are the holiday arrangements (theirs and yours) ; do they both take Gvmnt funding the term after they are 3 ? How does that work out for you in reality ? (and check out the new rules re 2 yr olds being funded).
How soon does your older one start school? Is that something to take into consideration if you are thinking of moving... how are you going to do the pick ups, etc once they start?

I work part time but the nursery is attached to my work hence the costs come out of my wages. DH works full time. We do get child tax credits but that goes into our joint account. Child benefit is paid to me.

DS1 starts school next year, have no idea what we're going to do re childcare then.

Once ds starts school a childminder may be your only option, unless nursery has an after school club and collects from the school.

So start looking into childminders who are near the school your DS is likely to attend (do you know he has a place at a particular school at the moment, or does that come later in the year - I can't remember the dates involved for school places).

You need to update your tax credits if you haven't done so yet. It may be in fact that the money that should be left in your account is more than you think but as you keep the tax credits in a different account it seems you only have £75 but forget to take into account what goes into the other account towards childcare.

Around here, a lot of Nurseries do breakfast club and after school pick up for 4 - 8 yr olds, but they do only tend to go to the one school. Obviously if you currently use a Nursery near your work rather than your home, then that's unlikely.
Alternatively, a lot of schools have wraparound care - sometimes on the premises, sometimes nearby and again, they drop off and collect. I just mentioned it, as, if you are moving your ds now, it might be worth finding somewhere that can carry on through, rather than then moving him again when he starts school.
Don't forget you get 15hours free from the term after he turns 3 as long as the Nursery is NEF registered.

Also, look into childcare voucher schemes - that can save quite a lot on top of WT Credits.