Childcare costs - how do people afford them?

[KCpip]

Sorry, not sure if I’m posting this in the right place or not. Just wondering, how DO people afford childcare costs? Is everyone earning shed loads of money compared to my family? Just genuinely curious. We have 2 DD and I’m recently finished my 2nd maternity break. The only way I can do any work is with help from family which is fine, totally happy with that, but would love 1 more day a week so I could bring in reasonable income instead of scraping by each month. Unfortunately the sums don’t add up. Even if it was just one day with a childminder. I’m always amazed how many people use childminders and nurseries - how do they afford it?! I know lots of people will say it’s all relative etc. I suppose I’m just keen to hear if anyone else is in the same boat where family help is great but never enough to work enough hours for reasonable income but childcare is unaffordable...

We only have one, and is likely to remain an only child. He’s 8 months and I’ve just gone back to work. We have two days at childminder, one day with grandparents. I’m working part time at the moment and his dad is freelance so can be working all the hours or none. Childcare comes at £250/month. We also get working tax credits this year because I’ve been on maternity leave. I was surprised that it’s the working tax element (child) that covers the childcare. I think they worked out we were eligible for £20 a month help with childcare. We have low outgoings. I am planning a career change (better earning) and that will prob mean full time. We’ll look at whether his dad takes certain jobs of that happens. We need a fair bit of flexibility to accommodate the work so the patchwork of care seems best option for now.

I use the government funding. Which is I pay £80 and they put in an extra £20 do my childcare of £1000 only costs me £800.its hard until we get some free hours for my second born but worthwhile to get back to work.

Thanks again for your comments. I’m impressed by all the careful planning. Unfortunately due to age we decided to go ahead and start a family when my job situation wasn’t ideal. I was in a temporary contact that wasn’t renewed while I was pregnant with DD1. I suppose I sometimes feel like I’ve never figured out how to get back into proper work, a little torn between wanting to be around for these early years but also a need to contribute to our household income as other half’s salary isn’t enough for us to live on. I’ve never got my head around childcare vouchers / tax free options etc. so maybe this is something I need to look into more fully!

Everyone I know who does has 2 working parents who presumably must earn more than you and your family? It’s a lot of money, but lots of people do earn a lot of money.

Oh yes and we left 4 years between children as 2 in nursery is too expensive even with high salafies

Almost 5 year age gap so first was in school before 2nd mat leave.

Tax free childcare

Balancing Working hours to minimise breakfast/after school club

October bill for both kids due to be £1000

Had an 8y gap.

3.5 year age gap with DD1 starting school once DD2 started at the childminder. Could have also managed just with free hours if moved to the preschool rather than expensive nursery.

We have no family help. Each work four days and DS in nursery for three. We both claim childcare vouchers from work but ultimately are left with a bill of around £600 per month. We are fortunate as we earn enough that it's affordable and we watch our outgoings quite carefully. We earn c. £70k between us on our part time salaries. DC2 is on the way and there will be about four months of paying full whack got both before the 30 hours for DS kicks in which should help a lot. It will still be out main outgoing for the next few years but the way I see it, we'll feel rich when they are both at school and we rearrange our part time hours over five days each to avoid wrap around care fees! We are lucky to have flexible jobs that should allow that no problem.

We waited until our first was in school. I couldn't afford to have 2 in childcare.

Higher incomes than yours,Lower outgoings than yours, Not having a second child until their first is at school, Save for it before falling pregnant

Yep-all of those things. It amazes me when people end up pregnant for a second or third time and have no idea how they’ll afford two/three in childcare.

Up until recently I worked part time evenings around DH's hours. So no childcare costs for us until D2 was 3. I'm just starting full time again and factoring childcare costs, we're technically no better off at the moment. Although I will be a lot happier and in the long run it makes more sense as both boys are at school and I don't need to be home in the day as much.

Where we live in Wales there is 15 hours a week childcare provision from 2 years old. There's obviously also the 30 hours provision from 3 as well. There is also the tax relief schemes that can save money each month. But it's not easy.

If I'd had two kids in childcare at the same time full time I'd be paying out £1k a month. Currently it's half of that just for wrap around care.

Deliberately chose to wait till ds1 was near starting school, before having ds2.
Only ever worked 3 days since. So was totally manageable.

We don't use childcare. I went back to work full time and DP changed jobs, went part time and now works evening and weekends.

One day a week DD is looked after by grandparents, DP does the other four days and I do the weekends.

Child care vouchers, savings, big age gap between children. No family help.

Saved up before having dd as knew we couldn’t afford it otherwise. Have used a credit card when needs must.

Childcare vouchers scheme.

Waiting to have dc2 .... can’t consider it until dd1 is in school due to nursery costs. Live in fear of having twins as we would be screwed!

I work 3 days taking home £1600 a month and my childcare costs £320 so it’s not too bad.

I’m pregnant again with number 2 but DS will be entitled to the 30 free hours by the time the second one needs childcare so I will only have to pay for one.

We are both high earners. We have a nanny. We had a childminder when it was just one child. We saved a lot when we were childless and had a big deposit so our mortgage is low. We have a big age gap. Our childcare bill is close to 80% of my salary but it is worth it because it will work out in the long room and it isn’t my expense alone. Before TTC we worked out childcare costs over the next few years and what our outgoings looked like.
We don’t do expensive holidays, we have a small mortgage (we could live in a nicer place and have a bigger mortgage but we chose not to) and in general we are quite frugal (don’t eat out, don’t buy too many clothes etc).

Fatted the free childcare in Wales sounds great. 15 hours at 2 and 30 at 3 - brilliant!

I dropped to four days a week, dd is with my parents two days and nursery two days. Went back to work when she was nine months, overpaid into voucher scheme so we could try number two and we could continue nursery for dd1 while I'm on mat leave. We will have about 7 months of paying £800 in nursery fees before dd1 gets her free hours.

I'm lucky that my parents help otherwise we would had to have waited for a second baby. Also our mortgage is fairly low and we literally spend nothing on ourselves..our only treat is take away coffees. You learn to reign in your spending but at the same time you need to plan your finances

Oh and we also got lucky in that we had two girls born in summer.. so hand me down clothes for the next few years will save pounds

I wish we had family to help.

DH and I will be on an incredibly strict budget. My spare money goes down to pretty much nothing.

Oh and have a serious conversation about money and make sure you are on the same page, dh and I have had a lot of rows because of money. Since having a child I feel like I've sacrificed most of my wages whereas he still has a fair bit of disposable income.

Big enough age gap that we didn’t have two in nursery at the same time. Flexible working meaning childcare doesn’t need to be full time even though we both have full time jobs.

And we are still skint.