Money or time?

Spendless

She's not at school. She's 17 months old, hence the hefty childcare bills.

BAGGY

I would compress my hours if I could into 4 days a week. Use the fridays to extend the weekend. Oh could take fridays as leave and have cheap coast holidays (we do caravans or travelodges) where your DD can stay up late and get sandy and remember the lovely fish and chips / sandcastles you all built / lucky pebbles. My 2 (although 5 now) still recall days we spent out before they started school where they did insignifcant, cheap, things. You cant buy that.

asparagus1968

ddebski_us wrote: »

Currently both DH and I work FT - over the next year, we'll earn roughly £65k (sounds lots but we live in Surrey!) We have a DD, aged 17 months.

We pay a childminder for 3 days, DH has her one day (shifts) and MIL has her 1 day.

The childminder has just told me she's giving up from July and so we need to find a new one. It's made me think about our options:

Life is hard at the moment in terms of time and stress. Although we do have spare cash each month, we don't have much time to spend it.

I bring in 65% of the income; if I went to 4 days we'd still be earning £60k roughly. I could take her to groups etc, just until she was at school age.

But, we'd be roughly £600 down a month. We could manage but they'd be less holidays, fewer nice clothes etc.

I know what the answer is. But I'm scared. We have few money worries but knowing the cash is there and coming in regularly is nice.

xDx

no-one ever regretted spending too much time with their children:)

Jojo_the_Tightfisted

Dunroamin wrote: »

£600pcm for one after school pick up seems disproportionate to me, particularly if it impacts on the OP's long term career.

On an income of sixty grand, I hardly think it's going to put them on the street.

ms_london

Personally I think that quality time with your child is more important than money sitting there in the bank while your child sees less of you, or sees you stressed. Do you really need a bigger house? You say life is hard with no time and stress, so why make it harder for yourself? The more you spend, the more you need to earn - I bet if you looked at your SOA (statement of affairs) and made a few cutbacks you probably wouldn't be as worse off financially as you think you might if you drop to a 4 day week. Obviously everyone has different motivations, this is just another perspective.

plymouthscubagirl

I agree. My little one is just 2 and I LOVE having Fridays off with him. I stupidly just agreed to go up from 3 days to 4 working (for mortgage purposes) and I am already regretting it Its easy to cut down a little here and there to compensate. You don't get this time back and they have lovely little characters at this age. On the flip side I do get taken a little more serious doing 4 days to 3 in work although if I can find a way I will be trying to get my 3 days back!!:j

moomoomama27

Time over money! I gave up my job to be a SAHM and I don't regret it one bit. We didn't have fancy cars, holidays etc, but we were omfortable and being able to be there everyday, see all the milestones and partake it everything wouldn't be worth giving up for any money ( for me!) I was fortunate the hubby had a good paying job that allowed me to stay one while they were all under school age.

skintchick

Dunroamin wrote: »

£600pcm for one after school pick up seems disproportionate to me, particularly if it impacts on the OP's long term career.

Kids don;t really understand proportion though.

I gave up my career (in which I earned almost as much as OH with the potential to exceed him - I definitely would be earning more than him now if I'd stayed) to look after our daughter and I do not regret it one bit.

I LOVE being there for her and being the one who teaches her about life.

No career is worth more than my child.

Children measure their lives by how much they feel they are loved, not by how well Mummy does in her career.

You have the option to be at home with your child in a way many other people do not - why not take it? Others would love to be in your position.

stu20vt

skintchick wrote: »

Kids don;t really understand proportion though.

I gave up my career (in which I earned almost as much as OH with the potential to exceed him - I definitely would be earning more than him now if I'd stayed) to look after our daughter and I do not regret it one bit.

I LOVE being there for her and being the one who teaches her about life.

No career is worth more than my child.

Children measure their lives by how much they feel they are loved, not by how well Mummy does in her career.

You have the option to be at home with your child in a way many other people do not - why not take it? Others would love to be in your position.

Here here...I've gone part time and so has wife. We've halved our household income and don't regret it one bit. Quality of life is now so much better for our whole family.

geoffky

We are mortgage free and live on £1200 pm very easily..We do have a holiday fund but all the other things are paid out of the monthly sum..That includes my daughters bus and meal fees of £10 per day..
We do not scrimp whatsoever..