How can I afford childcare?

[staranise]

I'm currently applying for a part-time job, three days a week, 9-5 with an hour commute so 8-6ish really. It is not badly paid for what I do (it's a low-paid sector) - it will give me a take home pay of approx. £100 a day I think after tax etc.

I have 3 DCs, aged 5, 3, and 1 - at school, nursery and home and hence have assumed that I would need a nanny in order to deal with the various school runs etc. A nanny round here costs around £100 a day gross, meaning I would barely break even, given my transport costs (I'm in London). Am I missing something here, is there a cheaper way of doing this? I had assumed that childminders wuldn't take on 3 DCs from one family. I would like to return to work but don't want to leave my baby etc and not gain any financial benefit - or do lots of women work purely for career points?

Are there any alternatives? We wouldn't qualify for tax relief and have no family nearby to help, DH leaves at 8.30am in the morning so can help getting the kids ready etc but is rarely back before 7-8pm.

Anybody in a similar position? Thanks

We were in a similar position recently. It worked out that it would cost us for me to return to employment, even after going as far as interviewing nannies.

As a result I now work from home after I bought a franchise. I work fulltime but the youngest is at a CM 3 days a week. I am earning more than I would do at work.

I don't know how you will decide to be honest. At the end of the day my career was not the most important thing in my life and other things were more priority. So it was easier for me to change direction and work from home. However there are lots of mums that value their career greatly and are based outside the home and want to return to that workplace - it is all about personal choice really. I don't know how many would do it for career points as opposed to financial reasons..

would you get the childcare element of CTC or do you earn too much?

I don't think we qualify for CTC because of DH's salary.
I have been freelance on and off for the past 4 years, but have always managed without childcare. I could work on building up my freelance career but I never enjoyed working from home and I never earned enough to justify any childcare. Now that DC3 is one and crawling etc I can't work around his naps etc.
Building up a freelance career and using a CM is an option, like you Fruity, but I would be working at a loss at first. Plus we have a tiny house and there is virtually nowhere I could claim as office space. Aargh, it seems ridiculous, I earn alright by most people's standards yet I can't afford to work!

staranise I worked at a loss for the first couple of months whilst getting contracts in the door and we are limited for space too but we are about to expand into the garage.

It was either that or buy a slightly bigger than normal shed for the garden and input light and power.

Visualise and it can happen...

It's probably academic anyway as I'm unlikely to get this job but thinking about the realities of childcare did make me think whether it was even worth giving up my Saturday afternoon to bother filling int he application form...
Aud I realise that as I'm lucky enough to have the option of working from home, I should probably consider it more seriously...

I have to say it is the best thing I have done in my career - albeit in a totally different direction from what I was doing before.

We are much happier as a family and there is no pressure of trying to keep an employer happy. Worth considering if you have the option..

I can work from home, it's just that I never really llked it - it felt like the worst of both worlds ie, working yet without the benefits of regular wage, adult company, getting out of the house etc (my work doesn't involve meetings or even phone conversations etc).

But I agree, in terms of family life with very young children, it works perfectly - no problem if the children are ill etc. And it means I could jsut get a childminder for DC3. Thanks for your replies.

We'll have the same problem when/if I go back to work so I'm not sure what to do. I'll still be better off if i go back to work but not by much. If I could work from home and earn a good income I'd do that instead but I've been looking for alternatives and cant find anything that would bring in much money.
I like my job ok but wouldn't be heartbroken to leave it. We struggle with money as it is so I would need another source of income.
I'd welcome suggestions of opportunities at home that don't cost a lot to set up.
Childcare in the UK is so expensive.
Thanks.

We had 3 children with similar age gaps, so were in the position of one needing care to fit around school hours, and two needing full time care. We opted for nursery for the two younger ones. Yes, it took the equivalent of one salary for that period of time, but of course it gets cheaper as they start school. When your 3 yr old starts school, the CM option will be cheaper than a nanny, for definite. We did it for long term gain, but yes, it's frustrating to feel your're working for no financial reward.

Most people i know only manage it because their parents/in laws help out for at least one day a week to cut down the childcare expense. The rest either have really high earning jobs or do it for no financial gain - just to keep their foot on the employment ladder i.e. if they leave it will be really difficult to get another job when the kids start school. You definitely need to look long term and work out your priorities.

You would be better off with childminder for eldest and youngest and nursery place for middle child as at 3, you will get funding for him/her. Or alternatively after school and before school club for 5 year old (if there is one) and nursery for youngest two. We're in a similar position and not making any money 'til 1 year old turns 3 and gets funding, but it's doable.

Or just work weekends, but if your husband is working long hours himself then he might not like it?
People who have helpful relatives nearby are SO lucky!
They get to earn and keep most of their money. Suppose that's the price we all pay for our 'freedom' to be able to live and work where we want.

TBH, even organising childcare to attend the interview would be enough of a PITA...

Thanks for your replies )