Childcare costs rise again

Morgage_Confused

Its all too cheap.
£70 per day here.!

crash123

TheConways wrote: »

As a woman, giving up work for 5 years would make it very tough for me to jump back into my career later on. Whilst it would be lovely to be a SAHM and raise our children with our values personally, I earn considerably more than my husband (who also does not wish to give up his career), I would likely not find another company who offers the same final salary pension benefits that my existing employer of 8 years does, and we'd probably have to downsize to a small 2-bed flat... Not exactly practical with children eh?

It's a real conundrum.

Naturally, I'm sure everyone else on this thread has all the answers...

We all live our lives how we want to. Its our choice. I don`t have any answers.
.

BobQ

Maybe those that are always complaining about the reluctance of the banks of mum and dad to loan money may appreciate the value of their childcare services.

Generali

Graham_Devon wrote: »

Childcare costs have continued to improve, posing a 6% increase on last year.

The average cost per week is now £90.97 up from £85.93 (this is for 25 hours). This translastes to £11,000 a year per child.

Unfortunately the government are taking action to step in and reduce the cost. The daycare trust stated that costs were rising significantly higher than the rate of inflation.

Prices have risen 62% in 10 years. However, real terms wages are now at 2002/3 levels.

England is again setting records for cost increase, while Scotland see's a fall and wales sees just a penny added to yearly costs.


With every other cost, work is becoming less and less worthwhile.

http://www.bbc.co.uk/news/education-21668842

It's worth noting that the report compares real wages with nominal childcare costs. In nominal terms, wages are up about 30% since 2003 so not great but not so bad at the same time.

The trouble with reports like this that focus on a single area of spending is that they miss the bigger picture. If real wages are back to 2003 levels that means that the average person can buy what they could in 2003. Families with kids have lost out here but given the vast subsidy working families get via the tax credits system perhaps they shouldn't complain too much!

Going4TheDream

Generali wrote: »

It's worth noting that the report compares real wages with nominal childcare costs. In nominal terms, wages are up about 30% since 2003 so not great but not so bad at the same time.

The trouble with reports like this that focus on a single area of spending is that they miss the bigger picture. If real wages are back to 2003 levels that means that the average person can buy what they could in 2003. Families with kids have lost out here but given the vast subsidy working families get via the tax credits system perhaps they shouldn't complain too much!

I agree with this to a point

I find it quite amazing when people know how much children cost to raise that they dont plan in the same way for them as they would saving for a deposit for a house or for a new car for example.

They dont suddenly just appear (in most cases) and people seem quite perplexed when they suddenly have to pay large proportions of their income for child care, as though it is an 'unexpected cost'

I read on other boards how people save thousands to have a dream wedding, or how they scrimp and save to buy a house yet don't apply the same principals to deciding to have a family and the costs involved in raising a child of which childcare is a very large proportion in the early days it seems ?

Whilst people bleat on about how much housing costs, (and yes it is expensive) and that two people need to work to afford housing, wouldnt that point alone make it all the more sensible to think about how they were going to pay towards childcare when planning a family

Carl31

Going4TheDream wrote: »

I agree with this to a point

I find it quite amazing when people know how much children cost to raise that they dont plan in the same way for them as they would saving for a deposit for a house or for a new car for example.

They dont suddenly just appear (in most cases) and people seem quite perplexed when they suddenly have to pay large proportions of their income for child care, as though it is an 'unexpected cost'

I read on other boards how people save thousands to have a dream wedding, or how they scrimp and save to buy a house yet don't apply the same principals to deciding to have a family and the costs involved in raising a child of which childcare is a very large proportion in the early days it seems ?

Whilst people bleat on about how much housing costs, (and yes it is expensive) and that two people need to work to afford housing, wouldnt that point alone make it all the more sensible to think about how they were going to pay towards childcare when planning a family

I think the ultimate problem, and the main reason for most financial problems in this country, including house prices, is that many UK people are just crap with money

grizzly1911

Carl31 wrote: »

I think the ultimate problem, and the main reason for most financial problems in this country, including house prices, is that many UK people are just crap with money

Spend too much on consumer tat for self gratification.

It is what capitalism was made for create stuff we don't need and convince we want it, lots of profit ,G&Ts all round. Even better if they can convince us to borrow money to pay for it.