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Paid childcare

Discuss everything related to paid childcare here, including childminders, nannies, nurseries and au pairs.

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Original poster

can you come over here and tell me if this is a good idea please?

44 replies

SparkyFartDust · 15/03/2009 20:26

I currently work as an Speech & Lang therapist.

I have 2 young DC's.

I love my job and really enjoy working with children. However, I desperately miss my own when at work.

If I give up work and become a childminder will I

a. make enough money to pay bills etc (need to clear £24 K which will be a drop in salary but ? worth it if means can see more of my family)

b.get work...is the recession effecting this area?

what do you think/ any advice?

OP posts:

Are your children’s vaccines up to date?

Set a reminder

KatyMac · 15/03/2009 20:29

That is £500 a week after tax & Ni

Gulp

Where are you?

Round here that would be being completely full all the time & tbh that has never happened

geraldinetheluckygoat · 15/03/2009 20:31

hi, the recession has made my job as a cm more uncertain, having had less enquiries and one mindee's mum on the cusp of being made redundant...but i know others who havent noticed a difference in business at all. I only have one mindee as i have 2 under fives at home, so i keep it very simple and earn just pocket money really (3.80ph) but i think if you do after schoolers and fill all your spaces sensibly, you can earn a good wage. someone will be along who has more mindees than me to advise you on salary i should think!! good luck with whatever you decide to do!

geraldinetheluckygoat · 15/03/2009 20:32

my sister earns about 1000pm on a good month i think, she is chockablock with kids andhas an assistant...

KatyMac · 15/03/2009 20:33

& you can only have 1 F/T plus before & after school

I don't think you'd be able to make £500 a week after tax - sorry

Original poster

SparkyFartDust · 15/03/2009 20:42

sorry, should have added that I could do 2 days (weekend) private Speech and Lang work.

This (hopefully) will bump me up.

Live in London.

I suppose it's scary for me as always been on a salary and never been self employed.

any reassuring stories from those of you who have done this? any regrets?

OP posts:

Shoshe · 15/03/2009 20:44

I don't earn that a week,AND I have three full time 7.30 -5.00 and three before school and three after school.

I have no children of my own so have all my spaces, i don't know anybody else who earns that much, and that is before you take off all you expenses, by which time I earn about a third of what i bring in.

KatyMac · 15/03/2009 20:47

I can have 9 children and the max I made is about £8K

Original poster

SparkyFartDust · 15/03/2009 20:54

right, thank you.

perhaps optomistic as I pay my current childminder £60 a day.

I was thinking I could have 1-2 school children before/ after and then 2 under 5's in school hours (my eldest would be at school and can be picked up & cared for at home by my partner).

So about £120-150 per day?

Perhaps I have been thinking about the private work as making the difference (can be up to £70 an hour).

OP posts:

KatyMac · 15/03/2009 20:56

No your eldest can't be cared for by your partner - your children are always included in your numbers (mine was even though DH was also a childminder) - how old is he/she?

Original poster

SparkyFartDust · 15/03/2009 20:59

oh blardy hell bang goes my fantasy!

KatyMac- eldest is 4 (5 next Jan).

OP posts:

KatyMac · 15/03/2009 21:04

So she is in reception

You can have 2 under 5's so at £60 a day - £300 a week x2 £600 a week

gosh I need to move to london

You will have expenses of around £100 a week

So tax on £500 would mean you would take home about £353 a week

KatyMac · 15/03/2009 21:05

Can you make up the difference with before & after schoolies? or as a SALT

When will you do your paperwork if you are doing SALT work at the weekend?

Original poster

SparkyFartDust · 15/03/2009 21:06

KatyMac- thank you so much for your advice . I will explore it some more as really want to find a way of combining woking with children/ seeing more of my own.

OP posts:

Original poster

SparkyFartDust · 15/03/2009 21:08

sorry crossed posts.

Yep, thinking of doing 2 days private SLT work at weekends and will keep evenings open for paperwork- if things work out.

OP posts:

nannynick · 15/03/2009 21:08

Have you looked into typical childminder rates in your area? - could try seeing what is listed online at www.childcarelink.gov.uk, also pretend that you are a parent looking for childcare and call your local Families Information Service requesting the childminder vacancy list, that may give cost details plus an idea of how many childminders locally are not full. Barnet and Islington publish their lists online... alas no cost details.

How much competition is there in your area? - You can get a feel for this by searching Ofsted's website - Childminder Inspection Reports section - using your postcode. Register Type = Early Years Register.

It is a business and needs to be looked at from a business point of view... so do as much research as possible, plus keep in mind that many businesses do not make profit for the first 3 years. Childminding can be different in that profit can be made year 1, but not always.

KatyMac · 15/03/2009 21:08

I'm too practical remember the paperwork could take 1 - 2 hours a day especially while you are setting up, then it will die down a bit

nannynick · 15/03/2009 21:10

sorry x-posted there a bit, see things have moved on since I started writing my reply

KatyMac · 15/03/2009 21:12

Listen to Nick - he knows what he is talking about

I may be being a bit negative today.....bad week

Original poster

SparkyFartDust · 15/03/2009 21:20

I soooooooooooooo appreciate your advice. sorry it's been a bad week for you. Also, not negative- more realistic!

Also nannynick- great advice to keep firm business head on.

At present I pay £300 per week for childcare. So basically most of my weekly income is spent in this way. I make £360 a week.

so I work to clear £60.

Surely I need to change things?

OP posts:

KatyMac · 15/03/2009 21:23

I agree

But if you made £100 a week you would be better off

You don't need £24k a year

Original poster

SparkyFartDust · 15/03/2009 21:24

but I am greedy KatyMac

OP posts:

KatyMac · 15/03/2009 21:25

Be realistic

Are you doing it for the children or to make money?

SimpleAsABC · 15/03/2009 21:29

O0oh! Straight to the point!

Original poster

SparkyFartDust · 15/03/2009 21:36

honestly, hand on heart- I would be doing it for the following reasons.

I do LOVE working with children- have done so for last 15 years and whilst exhausting/ challenging- very rewarding.

I believe myself to be skilled with working with children. I work with very complex children at the moment. I feel that I could bring those skills as well as the experience I have as a mother to the job.

I am interested in working with the same children for longer periods of time and adding value to their development.

I would like to work from home.

I would like to be there for my own children as well.

I need to earn money. My DP doesn't earn alot, we share bills/ mortgage etc jointly. Perhaps being the higher earner of us both historically (although working for the NHS still a modest income) I feel responsibility to bring in what I can for my family.

OP posts:

Original poster

SparkyFartDust · 15/03/2009 21:42

and by the way...my 'greedy' comment was in jest.

I had calculated on current income without taking out what I pay in childcare fees of my own.

I am very unmaterialistic. Haven't had a holiday for years/ don't buy clothes for myself etc (in part as don't have cash to do so) however, living in London overheads are high so I do need to be able to make money.

OP posts:

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