Nanny costing - have I forgotten anything?

[Alwaysinahurrynow]

I'm putting together a costing to see if we can afford a nanny for our 2dc when I go back to work.

I've used the Mr anchovy calculator to work out pay, and have also costed the following:
Payroll tax service
Kitty -£50 a week (I think this is pretty generous)
2 weekday classes for each child
Elec/gas as per my mat leave
Food -additional £25 per week
No additional petrol as I will jog to work instead
membership to a couple of local attractions

Is there anything else to think about? Or did you have any surprise costs when you first got a nanny?

Thanks

I think that is fair and you have covered the vast majority:

Only other things might be:

• xmas bonus - we gave a week's pay
• christmas / birthday presents from you / the children
• extra cover for holidays if you need it (you give her paid holiday, and normally nannies are allowed to take 10 days of that at a time of their choosing - the rest they take when you want to be off. if for any reason you can't take those days because of work, will you have to pay for a temp nanny or can you split it between you and DH / other family?

Good idea re bonus/presents. I have costed in buying an extra couple of days leave so I have 30 days so hopefully this will give us some immediate ability to cover sick days/holiday as DH is self-employed.

I think you're all set then.

Having a nanny is absolutely wonderful. If you can possibly do it, then do. It reduces stress levels massively (once you've found the right one of course!).

The only other thing I can think of is covering SSP (statutory sick pay) if your nanny is on long term sick.

I think £50/week kitty is actual a bit too much, especially if you have 2 activities booked already and membership to a couple of local attractions. You can always top it up in the winter when its less easy to take picnics.

Breakages?! I've been a nanny for 28 years, I have

-flooded a kitchen.
-crashed 3 cars (within 6 months! I wasn't in the car for two of them but still in charge of the car. My bosses refused to let me pay the excess!)
-broken various crockery and glasses.
-broke a vase that was a wedding present (again, they wouldn't let me replace it)
-broke a window playing football!
-chipped a porcelain sink dropping a glass.
-smashed a fridge shelf

I'm sure there's more. I offered to replace everything but none of my bosses would let me!

I don't think I am that clumsy!!

Will nanny use their car? Mileage payments, 45p per mile.
Will nanny use your car? Make sure it does not fall under company car rules. Insurance for nanny to drive.

Check with your house insurance as, whilst most will extend the cover to include domestic staff, some will make an extra cost. We also offered to cover the cost of things like our nanny's own 'nanny' (indemnity?) insurance and first aid course annual top ups. Some will expect to pay this themselves though, especially if you're not their sole employer.

MonoNoAware - you should not be paying your nanny's insurance! I will be invalid if you need to claim as it's a conflict of interest. You will be claiming against yourself.

OFSTED registration if you need nanny to be registered

As well as paying the monthly salary you'll get a quarterly HMRC bill for NI.
Have you factored in overtime if you are delayed at work?
£50 per week kitty seems very generous.
If she drives the children around a lot the mileage can mount up.
How much is spent will be determined by whether your children are school age or pre-school.
When my nanny started she was quite keen on taking my pre-schoolers on expensive soft play trips and often bought lunch and snacks out for them in cafés from the kitty as per previous jobs.The costs have significantly reduced by encouraging her to go to cheaper local playgroups and taking packed lunches and snacks from home.She easily changed to accommodate my wishes but she may not think about it if previous employers didn't mind.
My nanny is very generous with presents for birthdays and Christmas so obviously we make sure that we are similarly generous with her.
I'm lucky to have found such a good reliable kind nanny and I honestly can't see what other childcare option would work in my circumstances so the costs are swallowed up.

Extra car seats if nanny using her own car. Not essential but after several occasions of my bosses driving to work with the seats in their car and me having nothing they decided to get extra which stay in mine.
£50 is a lot of petty cash for a week. I only get that in the holidays when we'll do one big day out a week.
National trust membership is fab we get into lots of places free.

£50 per week in addition of two classes for each of the child? That is VERRY generous. I try to not spend more than £25 per week for two kids in all. But there are quite a lot of cheap/free activities around.

I think we will probably get the nanny insured on our car in preference as we have two cars which have expensive erf seats in. Pretty much everything is in walking distance too, so unlikely that she should be driving too much.
Thanks for the heads up on the kitty value too.

It depends what you supply the kitty for. I regularly spend £100 a week!

But I buy food shopping (we have an Ocado shop on Monday so it is just topping up or things we couldn't get on Ocado) my charges clothes and shoes, nappies, crafting items etc, we are only on wednesday and I have spent £50 on storage boxes for Christmas presents and £50 on nappy booster pads so they don't have to change him at 1am!

I rarely charge them for my coffee or lunch if we are out if it's my choice but if we go somewhere she has asked us to go to i.e., meeting her at work then any expenses incurred during that time will be charged.

I also have a £10 limit any item over £10 has to be ok'd by my boss.

It would just be to cover coffee if out or the odd activity snack and any food top ups wher DH has raided the fridge. AT the moment, I would expect to buy clothes etc unless it was emergency.

Only just looked back at this thread. Fortunately we haven't employed a Nanny for over 3 years now, Callaird, as I wasn't aware of that! I just remember thinking that it seemed a little unfair that she had to pay for it herself, especially since we were her sole employer and had specified it as a condition of her contract. It does make sense now explained though!

50 a week on coffees and snacks.... Unless you are covering a tube ticket out of that or expecting her to buy lunch out several times a week then it's a lot. Assuming most snacks are supplied from home I'd have said 20 was more than enough unless you are living in a v expensive part of London. Maybe I've been spoiled by two nannies that hate coffee though.

Two pay for activities a week like Baby Sensory (not soft play) for two children mounts up and is a nice to have so I wouldn't include it in your calculations as to whether or not you can afford a nanny. That amount could swing the nanny of your choice ! [eg:I was recently quoted 160 per term for two children to do Monkey Music]

Nanny Insurance - you can get this through the payroll agencies. I think it was just under 100

Agency fees - if you don't hire your nanny directly it can be up to the first months salary in fees.
Emergency nanny/childcare budget - your nanny breaks her wrist or walks out and after 2 days you are expected back at work. It's worth having an idea of what a temp nanny would cost. I think it was 20 phr direct with Tinies in London. Yeouch.

Have had two nannies over just under 5 yrs. Can't remember anything being broken or damaged. Sorry Caillard - I'd call you clumsy

Think we're about £20 a week on the kitty for one child. I don't see it as covering her coffee (well, occasionally!), but more like lunches for children if out, entrance to things, travel tickets, parking costs, picking up wipes or whatever.