Minimum £72k salary required to allow me to take home same as my 19 year old nanny

[knakered]

Nanny nick has done the "big sums"...so we need to earn £72k to to take home the same as my nanny - lets not get into disposable income...4 kids/mortgage etc...vs living at homewith parents ..ho ..hum..

OH

MY

GOD

Can you go for childminders/nurseries/after school clubs instead?

I think you are comparing apples and oranges here!

What you should compare is how much disposable income you would each have if your circumstances were exactly the same.

So she earns x, but has to pay for a nanny and raising 4 children compared to you?

Or

You living at home with no children.

Otherwise you are comparing the fact that you have made different choices (so far) than she has.

It's going to feel like winning the lottery (well, a small win, £900 a month gross ish) for me when dd goes to school. In 200andbloodyEIGHT!

How old are they all?

Soapbox, you wouldn't be an accountant by any chance would you? and

Well, I think this sheds new light on the myth of the husband-running-off-with-the-nanny:

it's for the dosh.

Ahhhh...
...but in 10 years' time you will be earning megabucks whereas she'll be a 29 year old nanny still on the same cr*p money!

"My ex-wife? Yes, she was a CEO. My new girlfriend? Oh, she's a babysitter, dontcha know. The sex is crap but she's taking me to Necker for Christmas."

Fortyplus - I am surprised that you think £25k a year for what tends to be relatively young people, is a crap income.

Many teachers don't earn that amount!

WWW

Can' help myself, can I

Yes you ARE comparing apples and oranges

The nanny is an (optional) expense because you have chosen to have (optional) children

The Nanny has not chosen to have (optional) children so does not have that expense

It is like saying I'M ADDICTED TO HEROIN SO I HAVE TO EARN 72K TO TAKE HOME THE SAME AS MY CLEANER!

Well, you know, you made that choice, it was optional

Soapy - £900 a month is £10,800 not £25k.
That sounds like cr*p to me!

The MMJ - she has 4 children, so a nanny is likely to be by far the cheapest option for her - assuming that they are not all in school (where afterschool club might be cheaper).

£900 a month?????

Where did that come from?

On her other thread she says she pays £500 a week net? Nice nanny Nick has worked it out for her, and it amounts to £25k gross.

WWW's costs are £900 a month because she uses a nursery not a nanny - is that what you mean?

My costs are £8/900 a month for 2 children BUT I have to earn more than that gross to be able to pay it out. The OPS costs are a lot higher I think.

But I still think this raises some interesting issues. I mean, why is it that childcare is so expensive? Why can't it be tax deductible?

Why are couples unable to make ends meet once they have children?

Personally I have a plan. What if you got a more generous tax allowance for each person in the family, including the children. This would allow you to actually take home more of your salary.

Stay at home mothers could transfer their allowances to the husband's salary, and working people could at least get something back towards the cost of bringing up children. Let's be honest, it is still going to be very expensive.

Soapy - it was this one...

'By Wickedwaterwitch on Sat 10-Feb-07 10:05:46
It's going to feel like winning the lottery (well, a small win, £900 a month gross ish) for me when dd goes to school. In 200andbloodyEIGHT!'

But I might have missed the point a bit, because it wasn't the OP

Seriously, I can see why one would make a comparison. Obv we all make financial choices and are at different stages of life, and with 4 children I imagine a nanny is the cheapest option.

It could well be true of all of us that we have less cash to sling around as we get older, no matter what we earned as teenagers vs in our twenties, thirties etc.

I earn more now than when I was in my teens, yet am worse off (mortgage/car to run etc)

In fact, I was better off when I was ten with my £2 a week pocket money!

i say you find a different nanny..............................£500 a week for 4 kiddies is ridiculous!
i know several nannies who earn £80 per day to look after 3/4/5 children.
your nanny must be rubbing her hands with glee!!!

How would you feel if your nanny was the same age as you? Still feel that she had a great deal? Is it just her age that is the issue for you.

I was at universtity when I was 19 so certainly not earning £25k. In fact I'm not sure that I reached that amount for many years.

But overall I think that you are overlooking the fact that the nanny's circs are such that she will never have the option of earning enough to employ a nanny herself.

My brother opted out of 6th form and got a job pyaing arounf £25k working on a building site. He's yougner than me and was very pleased to be earning approx the same salary. But again he is still left with a certain upper limit on his job prospects.

Depends where you live, smeeinit (love the name by the way!)

In London, £500 a week for 4 kids isn't unheard of, and also nanny salaries are always quoted in net, not gross, terms (don't get me started on that one!)

£80 a day net will be more than £500 a week gross.

I think the main revelation is that although you might think that someone earning 70k was rich, when you get there it turns out that you are not.

Well, if I ever get there I will let you know.

But the people I know who started life as brickies then moved on and started by themselves and now employ a few people plus own properties they have bought at rock bottom prices and lived in, done up and moved on. Now they have megabucks!

arr i overlooked the london bit!
£500 a week is prob about right then isnt it?!

ladymuck..........the building site thing......annoying isnt it! my son whos 16 earns more than me a week being at college 3days and building 4 days!