Pls pls help. I dont think I can afford to go back to work....

[lionsandtigersandbears]

Just been number crunching with my DP. I'm just thinking about my options re going back to work. If I work part time doing either of the two jobs I have done pre-son then basically I will earn enought to cover child care but not enough to pay bills/live. DP is a teacher and earns ok but covers everything at the mment and is pretty stetched, we live in London which doesnt help! I'm floating in a sea of 'tax credits, benefits, child care vouchers...' talk with no idea who to turn to get real advice. We dont have any family who are at home to childmind so we would have to pay full whack. I would be happy to stay ay home with my little one, and given the option I would rather look after him than a stranger, but on the other hand if I can earn enough to contribute I would be equally happy to go back to work. I need to know what financial supprt I would get if we decided on me reamining at home fro the time being. Thanks in advance.

Sorry about the spellings...stressed typing!

Give HMRC a ring to find out what help with childcare you can get plus tax credits etc. With one baby in childcare it probably will be beneficial for you to work when benefits are taken into account. You probably wouldn't get anything if you decided to stay at home

www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCreditsandChildBenefit/TaxCredits/index.htm?cid=emc&cre= TaxCredit_Info

Citizens Advice Bureau will also be able to help.

www.citizensadvice.org.uk/

i was in this situation, if i had gone back to work most of my wages would have gone on childcare, my dp could afford to pay mortgage, bills and food so we decided i would stay at home and he would pay for things and we have cut back slightly on spending but manage fine.
financially i get £20 a week child benefit that everyone gets and £10 a week tax credit.