Panicking I won't be able to afford childcare!

[thethingsiforgotinfrance]

I'm just seeking reassurance - or a reality check. I earn £43,000 a year and am panicking I will be really struggling to find my DC through nursery. The costs seem to be around £800 a month. Please tell me you all manage!

Yes, I appreciate that about not doing the budget :)

The mortgage isn't very big as I had a very large deposit for the house so that's obviously a big help. To be fair it's not a huge house either!

we earn 52k between us gross n mortgage is 900 mth n childcare is 650 mth i work 4 days. we manage we just have to budget.

YOur take home on 43k is what, about £2650? less any pension contributions.

MOrtgage of £300

Childcare of £800

That leaves you £1550 a month to feed and clothe yourselves and pay bills.

You'll be fine.

Childcare is a joint expense. You say you're going to start TTC, so I assume you have a partner? It should cone out of both your salaries.

Tiredy, no, no partner, just me which is why it's quite stressful in a way as if there's a tough month (e.g. car breakdowns) it's all me.

Take home pay a bit less than that (pension & student loan) - more like £2,100.

Sometimes women do choose to have children on their own.

x-posted :)

£300 on mortgage
£200 on bills, let's say (gas/electric/water/internet/insurance)
£800 childcare

Leaves you with £800 for everything else. Do you run a car? Those are expensive. Do you have commuting costs?

Still leaves you a grand to play with.

More if you get childcare vouchers, which you shoudl be able to, even if your employer doesn't do them you could ask them to, it benefits them as well I think.

It's doable.

PLus you have £25% (?) reduction in council tax as a single person so it all helps.

We've been saving lately so living on £800 for everything after bills and there are five of us, and honestly it's been no struggle.

Also, don't forget that it's only that much childcare for four/five years.Aim for an August baby and then they'll start school a year earlier.

Trills, yes, I do have a car :) I wish I could get rid of it to be honest but while I'm not hugely far from work it's in the arse end of nowhere and I'd have to get two trains and a bus or three buses which isn't really doable obviously! If I change jobs in the future I might seriously consider this though as I'm within walking distance of train and bus station.

Yes, August baby would be perfect but if it works when it's meant to it'll be Feb/March - mid year!

You will be fine - when Ds1 was a baby I used to earn half that, pay a mortgage (£400 a month) and childcare (£300)...wasn't easy but I managed!

My DC are now old enough not to need childcare, I am earning a lot more but my mortgage is £1500 a month so in real terms I am not massively better off!

Thank you I'm really looking forward to being a parent but just scared of being completely broke!

Nursery feed them so I suppose should the worse happen the DC will still be fed!

You have to look to the long term too.

My wage barely covers child care and commuting costs. However, it won't be like this forever, the DC's will go to school and the costs will drop. But hopefully, having stayed in employment, my earning potential will be better.

There is no getting away from it. The early years are hard money-wise when you have young DC's. However, you also will find that you adapt your spending and your way of life to accomodate this.

Ime affording childcare is the least of your worries. It all becomes much harder when they start school and you need to be around to help with homework. Having a job that pays enough and doing the hours you need to fit in that is very difficult to find indeed. That is the time I found it hardest being a single parent. In the end I chose to send ds to a school that did wraparound care and cut my hours so I could fit in with that.

If you're just about to start TTC, then you have a while to save up to cover mat leave/childcare. Try doing a statement of affairs (for current outgoings!) to figure out how much you can reasonably afford to save each month:
www.stoozing.com/msoc/soacalc.php

My costs didn't drop when ds started school as the CM increased her hourly charges for before/after school and holidays. It meant that I was paying the same money as I had been when ds was a baby. When I enquired with other CMs they all quoted the same sort of cost. It worked out cheaper to choose private school until ds got to year 5 where the costs were equal.

Oops
www.stoozing.com/msoc/soacalc.php

Wasn't after school club an option bisjo?

What sort of help did your DC need with homework?

Ooh and slightly thank you very much for that

I too am panicking a bit, check out the vouchers from work also visit childcare.co.uk. Ask anyone and everyone you know locally who they use, consider a combination of nursery and CM as full time nursery can be more expensive but also a bit "full on" for a baby. If you have friends with a baby it might be worth considering a live out nanny at one of your homes and share the cost?

I expected you to say you have a salary at least half of what you have! And a mortgage double the £300 a month you have! :)

You should really have no problem at all.

When I worked when dd was little I was earning about £16K and I used nursery 3 days a week and I managed ok.

You'll be fine.

You should be fine, but as others have suggested, you need to budget now, and start saving. You need to ensure you can afford maternity leave, depending on what your employer offers and how long you're planning to take, and then the childcare. You also need to be prepared - in our situation, Number 1 turned out to be Numbers 1 and 2 . Anticpated childcare costs of about £700 a month (to cover the 3 days a week that I was going back) suddenly turned into £1300 if I remember correctly (we got a 10% deduction on the 2nd baby's fees). If you're planning on going back full time, you're looking at about £1100+ per month for one place at a nursery around here.

I've already chosen the nursery in my defence I DO have to be prepared. Got enough money for my fertility treatment and for maternity leave but there won't be any much left to act as a buffer should something go wrong and I need to pay nursery fees as well!

You'll be okay. You'll get used to a reduced income.
Children are expensive..

No after school clubs at any of the local state schools (they tried but when it was only one child out of three schools they decided it wasn't economic to continue).

As for homework help I'm not sure what you mean. Most children have homework even if it is just listening to them read. You need to be there for that. If they have other homework to do then you need to be there to help and encourage them (or if you are pushy then do for them!). Maybe there are children who are 5 and who will sit and do their homework without asking for help, I have just never met anyone like that. Ds is now in year 4 and does homework at school every day.

You also need to have a back up plan for when they are ill and can't go to nursery/school.