Nanny costs

[june79]

Hi everyone,
I am very confused at the moment of how should I manage the budget as well as give the best choldcare to my 2.5 year old son.

My son was having a full-time nanny that was costing us £1760 / month. We felt that it'll help us cut down the costs if we start his nursery. Also, that we felt it's necessary for our son to socialise with other kids. So we started his nursery that is costing us £750/month for 3 days a week. He comes back at 4.00pm so we have to get a nanny for 3 hours of evening + 2days of the rest of the week. This has let us to a total of £1950/month.

Things have turned the other way round and we have ended up spending more than our budget. Pls give me ideas of how we can cut down the childcare costs. Do you think it'll be a good idea to start a full-time nanny and send him to more activity groups to socialise?

I am feeling depressed as my monthly income goes straight into the child care costs. I don't know what's the best for us:( Any ideas will be really appreciated.

Thanks.

If you need care until 7pm and nursery does not offer that, then no point using the nursery unless the total works out to be cheaper.

A nanny should be going to toddler groups, where your son would mix with other children. Toddlers do not need to be with other children a lot, just going to a group once or twice a week would be fine.

Once he is age 3, education funding would start. It starts the term following their 3rd birthday, so a few mornings/afternoons at a local pre-school could be done. Nanny would still be paid during that time but they could do some household tasks, such as laundry.

Nanny to care for one child is very costly. Have you looked at childminders? Some childminders may open until 7pm. Some may open quite early if you need an early start time.

Your local authority can tell you about childminders and pre-schools in your area.

Agree with cindy, maybe a flexible childminder could work. Or a nursery thas closes at 6 not 4. Or a nannyshare, ideally with a kid of similar age.

A nanny for us was the same price as having 2 with a childminder (and the nanny option was more convenient).
Would second the suggestion to look for a childminder option. We used to have one and she was great.
Also make sure you are using your work's childcare vouchers for your tax free allowance.
I also find it disheartening that I'm out of the house 11hrs per day, 3 days a week to have £150 in my pocket - the rest goes to our nanny. But I'm hoping that once they're both in school that will change and I do really appreciate the level of flexibility and the quality of care that my kids gets from a nanny.

You need to find a nursery that finishes at 6pm or later if possible. Maybe see if one of the nursery workers could provide after nursery care if you can't get a nursery that finishes later.
I earn a good wage and only take home about £250/month after paying for a nanny but trying to focus on the longtwrm benefits of it all!

Thanks a lot for the comments. I'd look into the child minders. Guess it's a great idea. Thanks once again :)

I think your previous nanny arrangement could have given you the socialisng that you wanted for your son. There would have been some things going on in your area which he/she could ahve taken him to, I'm sure.

Free things - story telling at the local library (this usually runs once a week, for varying agres), sessions at your local sure start centre (if it hasn't been closed due to funding being pulled), toddler groups in church halls and community centres, which are usually only a nominal fee for the running costs, like 2.

More structured things which would introduce more deirectional activities - classes like Tumble Tots, Monkey Music, football, messy play, cooking classes. You tend to pay for a block of classes in advance.

If a nanny/childminder is ofsted registered, or can become ofsted registered, make sure you and your DP elect to take the maximum you can out of your salary in childcare vouchers.

Your childcare costs will fall the term after your DS turns 3, as then he will have funding for nursery or pre-school.