Paying all your wages for child care - your thoughts

[daisydee43]

Hi

Am due back to work at the end of the year and have been working out if I would be entitled to tax credits but it appears not. I would like to return to work part time but I am on min wage so child care would be £1 a day more than I earn. I have to work every other wknd as part of my contract so would get this income but am not sure whether to do a day in the week for no financial gain - any thoughts?

Thank you

Is there anyway you can get an evening job, so your OH can do childcare while you go out to work. This is what I am currently having to do. My full empathy/sympathy OP, It's not easy is it

Yes, I worked while childcare was the equivalent of my wage (although I agree that you shouldn't see it as just your cost- your has a father too)
Don't regret it at all. I've seen too many women struggling to get back into work after time out. Besides, these days there's a lot of help- free nursery hours at age 3 which will mean more of what you earn is profit

Given that many women have a year off on ML anyway, that means its only a couple of years you're paying the higher rate

Been having to pay private nursery costs for the last 4 +yrs, dc1 is now in school and dc2 starts next year, we were lookin at it as a short term essential expense (4 yrs doesn't seem that short when childcare costs more than your mortgage though!). Dh and I both have quite good jobs and didn't want to be in the difficult position of getting back into work after a break - would of been difficult to go back in at same level etc.

Our employers do childcare vouchers which saves us quite a bit in tax and ni.

Just found out we're expecting dc3 too but we both plan to keep on working. Are your employers flexible? Reduced hours, flexible hours, jobshare etc may help you?

I didn't go back to work after having DS. My salary was about £200 per month more than childcare but like yourself I had to work weekends, and for the sake of £200 a month we cut our cloth and means we get 2 family days a week instead of one. Best decision I ever made! I had been considering a career change prior to getting pregnant so am not concerned about getting back into the same industry, and I'm starting an OU degree this year so when I eventually decide I want to look for work again, I will be better qualified in a field I've always been interested in.

Rockchick- very inspiring, I too am studying and hope to become qualified in my current industry, I hope to set up my own small business and hopefully now it will give me more time to focus on this and achieve my goal

Used to be the case for me- kept working full time, and got myself promoted. Childcare still eats a lot of our income, but it's investment into the future.