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HELP!!!

I've just managed to convince hubby that it's time to have another baby (don't want my daughter to be an only child like me), but I have just suddenly thought:

How will we afford to send two children to nursery?

Help please!

Squidgy
It's not WHAT you know, it's WHO you know
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Comments

  • I pay about £400 for our daughter to attend full time nursery. The nursery is council assisted and they give a discount for having additional children. Its about 30% off. Not alot really.

    I would think taking a career break would be the better option for me!
  • Lillibet_2
    Lillibet_2 Posts: 3,364 Forumite
    1,000 Posts Combo Breaker
    If the cost of both nursery places adds up to more than one salary it would be more economical for one of you to give up work & become a stay at home parent for a few years ;).
    Post Natal Depression is the worst part of giving birth:p

    In England we have Mothering Sunday & Father Christmas, Mothers day & Santa Clause are American merchandising tricks:mad: Demonstrate pride in your heirtage by getting it right please people!
  • jellyhead
    jellyhead Posts: 21,555 Forumite
    10,000 Posts Combo Breaker
    how old is your first child? when they reach around their 3rd birthday the government will pay for 2.5 hours per day of nursery schooling as long as it's in an OFSTED inspected nursery. my sister did that, her boy was in nursery for 5 hours per day but she only paid for 2.5 hours and lunch. it has to be a proper nursery where they are taught letters, numbers etc. rather than a childcare facility.

    someone she knew was using the local school nursery but she was paying a childcare facility to pick the child up and look after him for the rest of the time she was at work.
    52% tight
  • Go to the working families tax credit site (sorry dont know the address) and you can put in your and your husbands salaries, costs of childcare etc. This will tell you roughly what you will get in tax credits, so will help you to decide whether its worth going back to work, or stay at home for a bit. Dont forget mat leave and pay are better now, so all will help!!

    meanwhile, enjoy the getting pregnant!!!!!
    Getting fit for 2013 - Starting weight 10.1.13 88.1kg
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  • Squidgy
    Squidgy Posts: 684 Forumite
    Thanks for the help ;D

    Will look into the tax credits more, but we already get assistance with my daughters nursery fees, so don't know whether they will be able to give anymore?

    My daughter will be 2 on the 30th December, but it's taken six months and no joy, so she may well be 3 by the time I concieve!
    It's not WHAT you know, it's WHO you know
  • Spendless
    Spendless Posts: 24,343 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Do you get Child Tax Credit? You get an extra £545 (amount for year) for a newborn. This extra credit is paid up until babys 1st birthday.

    You would also receive child benefit, is roughly £11 for a second child.
  • misty
    misty Posts: 1,042 Forumite
    If your daughters 2 in Dec, if you get pregnant now, by the time the new baby is born and ready for nursery, your daughter will be 3. At 3 you will be eligble for the early years grant - this is not means tested. They will pay for up to 5 sessions at 2 1/2 hours a session per week, term time only. If they go to a pre school nursery many of these run just 2 1/2 hour sessions, so is free, but aren't much use unless you have v flexible working hours.Therefore private nurseries are an option - depending on how the nursery workout what you pay it will either be taken off pro rata over the year or you will pay more during the non term time period. Depending how much the nursery fees are at the nursery of your choice, it would depend on how much you pay but it is a significant reduction. My son's nursery seems to be one of the most expensive in my area and it is quite a reduction. You then notify tax credits - what your weekly fees are adding together term time and non term time fees to get an average and they will then give you something more towards the cost. The new baby (who is the most expensive) because of the staff/child ratio should get a sibling discount. Also worth seeing if your employer is part of or would sign up to one of the voucher schemes busy bees do one and I think there are others. According to them By electing to take part of your salary in childcare vouchers the value requested is exempt from National Insurance Contributions. At 11% (9.4% if contracted out), this represents the equivalent of a month or more free childcare. I think it simple enough for employers to sign uo and doesn't cost them anything. Good luck and happy practicing
  • Squidgy
    Squidgy Posts: 684 Forumite
    Wow, thanks everyone ;D

    Might just be able to afford it. Stayed at home when I had my daughter, but I am now in a job I really like and want to go back to.

    We did have a demonstration at work about the busy bee scheme, but I had to wait so long for tax credit award I had forgotten about it. I will look in to that again next year.

    Think we would be able to get a sure start grant too, that's another £500. We missed out on it for my daughter as we didn't know about it.
    It's not WHAT you know, it's WHO you know
  • I'll get shot out of the sky for this but ....

    did you think about the cost BEFORE deciding to try for another baby? It's not like buying a car, a child (as you well know) is a big investment and if you have any doubts about whether you can afford it then don't do it.

    Fair enough if there's medical issues or anything like that (body clocks don't count!)

    As my Mum says:
    'If you can't afford it,l don't buy it'
    and
    'You can't spend money that isn't there'

    Dear of her!
    Watch out people. You don't know what lurks around the corner for you![/SIZE]
  • nearlyrich
    nearlyrich Posts: 13,698 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Hung up my suit!
    I don't think there is such a thing as not being able to afford children, the issue is whether they are higher priority than having the latest and greatest gadgets, holidays etc.

    I was brought up in a large family, we had no luxuries and my first holiday was at 14 when I went with a schoolfriend's family but I don't ever remember feeling deprived. When I left home my parents still had a black & white TV when most people had colour for years.

    There is so much more financial help available for new parents than there was when I had my children. I was lucky that my mum looked after my two, there are only 18 months between them.

    Squidgy good luck with enlarging the family, keep using this site and getting the bargains. ;)
    Free impartial debt advice from: National Debtline or Stepchange[/CENTER]
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