Flexibility or more cash?

[starrychime]

When DD started school I cut my hours at work from 9 to 5 to 9 to 4. So can drop off at school and she goes to after school club and we don't get home TOO late. My job is really accommodating with days off for snow, sickness, other emergencies etc and never had any trouble getting time - which I really appreciate. So have recently been working a bit later - maybe half hour or so a day - and building up flexitime which means I can use the time for extra leave, getting away earlier etc if for example I wanted to take DD to an activity starting at 4. But working 'part-time' obviously affects my salary which affects potential mortgage I could apply for and also pension.

I guess what I'm asking is - what is more valuable would you say with a primary age child - money or time? Interested in what others think - would you ask to up your hours officially for more cash or hang on to current arrangement with an iron grip as it's so flexible? (Actually, reading this it seems like a 'no-brainer' that being so flexible is great, but interested to hear your thoughts)

depends how much you need the money really - no one else can answer that for you.

I do 20 hours, 9am-2pm 4 days a week. ds2 started school in Sep and I could have picked up the extra day, and upto an extra 45 mins per day. But - I don't need the extra cash (especially when with PAYE, NI and tax credit withdrawal I would only actually get 27% of any extra) and I value being able to swap around my day off, work up a bit of time in term time and take more time off in the holidays etc.

How much extra cash would those 5 hours actually give you?

Probably mean an extra £150 or so a month - but then I think I would lose quite a bit in tax credits which help with childcare costs which I would still have.

if you are a basic rate tax payer, paying NI and claiming tax credits then your effective "tax & tax credit" rate is 73%.
So you would actually only be getting 27% of that extra income.

When dd was at primary school I did part time hours and like you had flexitime, so when I could work a few extra hours I did and it was invaluable for school holidays etc.

Now she is at high school I have increased my hours to full time (the money is very handy!). I would suggest that when your dc are young your time with them is precious, they soon grow up and you will never have that time again. Yes my pension has taken a clobbering for me being PT but at least I was there for her everyday after school. When they get to high school days are usually longer and they are usually a bit more independant and it is much easier to increase your hours. But only you knows how important the ££ is to you.

I work 30 hours, and have very flexible conditions. Which work both ways, I usually manage to take off any time I need, but I may also have to do conference calls at home at 6am, 9pm-11pm, etc.
For me the flexibility is priceless. I love that my children can be involved in their current hobbies, and that I am available at homework time.