So depressed about job and childcare

[Rosebel]

This is a bit of a rant but perhaps someone will have some advice.
For years I have been trying to get back in to childcare and this week I had an interview and was offered a full time job. I was so excited.
They said they would provide childcare for my son (10 months) with a 10% discount. Except when I worked it out I'd only be earning £70 a week after childcare. Then I have to factor in tax, NI and pension so would barely be earning anything.
I turned down the job and now have to return to my horrible retail job (that I truly hate) and I feel even less motivated now.
The thought of doing a job I hate for at least another 3 years is so depressing.
My husband doesn't earn brilliant money and I refuse to work 40 hours and miss out on time with my son for free.
Luckily I'm off work until Wednesday but I just really thought I'd be able to hand my notice in and do a job I love.
Are there any nursery nurses out there who can afford childcare? If so how? What other jobs (where I can afford childcare) could I do with my qualifications?
He's my third baby (older two are teenagers) so no help towards childcare.

If you're earning that little then you won't be paying much tax, NI and pension. You've got to think of it that it's not for the money, you're investing your time so that when your DC gets older and goes to school then your earning potential will have increased. I can't see why people think that they should have the best of both worlds of staying at home with DC and keeping pace with what they could have earned had they stayed at work as if they didn't have DC...

Have you looked at universal credit? I'm pretty sure the 3 child cap doesn't apply when it's for the childcare element, so double check that. If you're not eligible for that there is tax free childcare of course.

I think it's also worth remembering 3 years isn't forever, it won't be 3 years because you'll be eligible for the 3 year funding before that, but if as a family (not just you) can afford to do it, then you need to see it as less of a short term financial decision, and more about the lifestyle you want, and it'll also be a good financial decision long term even if you can't see the benefits straight away; pension contributions, keeping your hand in.

This is the case for many OP. I worked for minus numbers when I had 2 in FT childcare. I worked to keep myself sane, to keep my pension going, to keep myself in the loop for promotions.

You’re forgetting that childcare isn’t just your bill. It’s a shared bill between you and your husband. Half that bill comes from his wage.

Have you thought about an after school nanny job where you can take your son? After school nanny's are really hard to find due to the limited availability so there's always loads of jobs on childcare.co.I'm might be worth thinking about?

Limited hours sorry not limited availability

I have been working, just that the nursery I worked in closed down and so I had to get another job and all I could get was retail.
I will look into the childcare element because I wasn't aware of that.
Our nursery fees would be shared but we'd struggle if I wasn't earning anything.
Thanks for the replies.

That’s a shame, would you have been able to use the tax free childcare? Would you have qualified for any tax credits? I would keep trying and see it as a stepping stone as long as you are bringing home enough money, even if it is only £70 then it will soon start to balance out and be more money and less childcare costs

Some nannying jobs let you take your child.

Whilst i agree about pensions and future earnings - i do think people need to be a bit realistic about the earning potential as a nursery nurse and how there arent necessarily big promotions every few years that you are missing out on or indeed the pension wont be bigger than the retail job you already do. So it really is just personal wellbeing.

I'm confused.
Presumably you have to pay for childcare (without the 10% discount) whilst you are working in retail ? Only without the convenience and time saved by having your little one at your own place of work.

Remember the personal tax allowance means you aren't paying tax on the first £12K+ anyway (not sure of the exact amount).

Plenty of people just about break even if they think of all the childcare coming out of one salary, for those early years before the funded places kick in. It is an investment in your career to keep working though.

At a guess the retail is weekend/evening so her partner can cover some of the hours.

You can't make more in retail surely? And won't get a discount?

Unfortunately this is the case for a lot of women, myself included. I work not for the moment but for the long term goal. Career progression, paying into a pension etc.

I work weekend and early mornings at the moment so we only pay for two mornings a week. As a nursery nurse I'd be working more hours and have to pay for five full days of childcare.
Childcare has always been expensive and badly paid but with such a large gap between my children I didn't realise it was over £1,200 a month.
£70 just isn't enough. As a family I need to be earning more or we'd struggle with bills.

Its really tough. Is there anything you can do to make you feel like you are working towards getting back into chikdcare whikst those 3 years pass? Some online courses to keep your skills current or helping run a toddker group so you keep a reference.

You could definitely claim childcare element of universal credit. Everyone's circumstances are different but I was on a 22k salary in my last job and I claimed childcare element.. Maybe it's because I'm a single parent.. Your income would be jointly assessed for universal credit.
Tax free childcare might be worth looking into also.

Assuming your partner doesn’t earn over £100k you can definitely claim the tax free childcare thing despite it being your 3rd child.

A childminder would probably be drastically cheaper than a nursery.
Plus using the tax free childcare for 20% discount - have you looked at that?

Is this not something you factored in when having a third baby?

We started claiming universal credit last year due to oh not being able to work. We get 85% of childcare fees back each month, you just report the costs and upload proof of it on your bank statement

Our third baby was totally unplanned and as I said I knew childcare would be expensive but hadn't realised how expensive.
I'm going to look in to tax free childcare though so thanks for that everyone.

It's shit @Rosebel
When I was looking for a new job I was having to overlook so many because after childcare / travel / tax etc I was run ragged working full time with a 1 year old and not enough money to even put aside for a house bill!

Unfortunately you need the money so maybe see your current job as a stop/ gap to make ends meet for now.

Only other thing I can add is maybe contact other nurseries and see what they offer for staff who have dc there- so like a bigger discount or doing your full time hours over 4 days so you get the 5th day off and no childcare cost... although after 40 hours in a nursery I think you would need a day to recover! A nursery nurse at dc nursery does this and full credit as it must be bloody tiring!

I say keep going with the current situation it seems like you've already weighed it all up.
Be the best you can so when you do leave you have a glowing cv / reference which shows your ability's to adapt/ be responsible etc.

Most of all enjoy your baby when you are off, time goes too quick as you'll already know!

I know bright horizons offer a 40% discount for staff children and have about 350 nurseries in the uk. Have a look if there's one near you?

I’d keep your retail job until your youngest is 3, then if you change jobs then you should get the funded hours. It’s not that long, time flies.

£70 a week isn’t that bad in my view tbh, it keeps you in the career you want to be in and it is a means to an end. Tax free childcare contributes 20% to your bill so that should mean you earn more and the 30hrs funding will kick in (you can keep using the tax free childcare for the remaining balance) then they’ll be at school.