Not sure what to do?

[TimeFlys]

Im an english mothers help with 4 years childcare exp. I chose to mothers help because at the time not many live in jobs around.
I have now been with current MH Family 1 year and I often have sole charge of the youngest.
Last week I met a mum at the park ( who ive seen and spoken to for about 6months) and got talking to her and she has offered me a 3 day position to look after her 1 year old as a nanny (3 days pw) she mentioned she payed a fee for a childminder however, she is willing to loose the retainer as she feels im a good fit for there family. The only problem is I would need to find accomidation. Im in central London and rent is high and as its only 3 days i dont want to be left broke!.
How much should I charge? or should i stay put?

Do you think they would let you do a nanny share 3 days per week?

Nanny jobs in SW London were a max. of £10 gross quite recently. Unless you have amazing additional qualities or experience I'd use this as a guide. If you were to work 3 days per week of 10 hours a day, that's make £300 per week maximum (gross, less after tax). So £1200-£1500 a month gross. It would cover the rent but not a lot else unless you find work for the other 2 days, evening work etc.

just to mention hours are 6am - 3pm (tues,wed,thurs)

The parent wants you to nanny, so it's not you charging them, it's them paying you a salary. So I feel they should be telling you how much they are prepared to pay.

Rental prices in London I expect are quite high (I'm not in London) so I would imagine that a lot of your salary would go on rent. You will need to research the costs, not forgetting about all the bills which would also need paying (some rental property rents include some bills, others won't).

Do you really want to leave your existing job?

Im okay here I was looking to do a few courses before i left to benifit myself..I already have introduction to child practice and im OFSTED reg. I feel my current family have a nanny but on MH wage?
I know they will have to pay more for me than a childminder but im not sure how much childminders in SW charge? The job is only 3 days until November then 5 days? I was thinking of saying to the family to start DC at childminder and then when fulltime is needed to switch to nanny route. So then they will not loose thier retainer fee.

They would be more than happy for a nanny share arrangement. I guess im just not sure as both jobs have advantages:

MH = rent paid. Save money, study.
LO nanny = own space , early finish , extra nice family.

CMs cost varies, £6 per hour isn't unheard of in SW London. However, you can't really compare it - as a nanny provide 1:1 care, whereas a childminder may be caring for many children. Plus the amount of money parents pay the CM is the cost to the parents, whereas the take-home-pay amount they pay you as a nanny, is not the full cost to the parent (the parent deducts your Tax and NI, plus pays employers NI). Make sure the parent understands UK taxation - HMRC: PAYE Intro

As a live-out nanny you will certainly get the benefit of having your own space. But that comes with some negatives, such as rent to pay, bills to pay (water, electricity, gas, council tax, house insurance, home maintenance, just to name some of them). Plus you will also have travel costs to & from work (which you don't have if you live-in).
With a 6am start... how will you get to work? Do you have your own car?

I will find a place within walking distance. Im really attracted to the 3pm finish. was thinking of saying to the family to start DC at childminder and then when fulltime is needed to switch to nanny route. So then they will not loose thier retainer fee.