Argh! Maths is doing my head in!

[MotherPanda]

I am going back to work end of February, when dd will be 7 months old. Work have accepted my request to compress my £6900 pa part time job into 3 days rather than 5. will be working 18 hours a week. After national insurance, pension and train fares i will take home £400pcm (earnings below personal allowance)

I have, however just applied for a full time promotion - 36 hours and £15000 pa. after ni, tax, pension, student loan and train fare i will take home £615pcm.

We are very lucky in that my dh is adjusting his hours to look after dd, and grandparents are helping out so we don't have to pay for childcare - because obviously this extra cost would mean i really couldn't go back to work.

I really wanted this full time job as it would give my family security - and would be a huge training boost for my career - but now i'm wondering if an extra £200 a month is really worth working double the time - and that's double the time away from my lovely dd.

Sigh. Would still get some tax credits with the above job - about £40 a month we think.

Should mention I have been invited to interview - so it seems a bit more real now.

Right - i've done the maths for tax credits and deductions from pay and train fare

Stick with my current job - 18 hrs, we have £1405 pcm

Work double the hours, we have £1304 pcm.

So i'm worse off from doing this job :(

Can somebody PLEASE explain the logic in this!

Roughly take home should be:

£6900 = £6900 per year take home
£15000 = £12200 per year take home

So the question is will you lose over £5000 of tax credits and extra train fares?

The answer, i believe is yes. (flicks through pages and pages of notes and calculations) I made a mistake with my student loans working out, so it now stand that i would get to 'bring home' about equal amounts. i believe we are loosing around £3000 in tax credits, and my train fares will go up by around 2000 (very approx. figures there).

Now its a moral decision - am i happy to live off the back of the government, whose support could disappear in a flash or should i work for myself - which would set us up in the long term.

Morally, i feel i should go for 2 - only i have this very dependent little baby who will never be small again...

I will pick to stay part time as you aren't getting any money in your pockets for doubling your work hours.

It's not just about money though, is it? It's about your career progression, your personal satisfaction and about the great example you'll set for your dc.

Of course if you can't bear the reduction in income that's a whole other debate and you should probably wait for another opportunity.

DH is thinking much more long term - short term we wont be any better off for it, but this job will give me training and lead to more jobs, and possibly qualification, and therefore career satisfaction for me, and money and stability for us.

I love dd - but i do think about me sometimes too.

oh i feel like i want to do both those options! I havn't a clue which one i want more - but thank you.