Balancing income versus childcare costs

chellewaddy

I have been offered a new position in community nursing which I really want to do. However I am trying to balance the income versus childcare. I currently work 12hour shifts in the week and a 12 hour shift on a Sunday. My childcare costs are low as I only pay for 1 before school session and 1 after school session. I have 2 children under 8. If I take the new job working 8-4 I will need to increase my childcare to 4 before school and after school sessions. I am trying to balance the increase in childcare costs with the drop in wages due to losing the extra hours I gain from working Sundays.

Anyone have any suggestions how I can minimise my potential drop in wage and increase in childcare. I really want to take this new position as I need a change for a variety of reasons.

I have been on the HMR website and according to the calculations we were not entitled led to any tax credits. Although I did forget to factor in the increase in school holiday childcare. Our joint income is approx 53,000

Horseunderwater

http://www.moneysavingexpert.com/family/benefits-check - try this checker it may be a tad more accurate.

dippy3103

I think there are changes to help with child care costs from next April.

I get a childcare voucher- which saves about £70 a month in tax. That might off set your change in costs

chellewaddy

My childcare will increase from £240 per month to £800 approx this is not including school holidays. I currently claim £243 in vouchers which is the maximum I can apply for.