Childcare Number crunching

03022242

Archergirl wrote: »

Why does everybody think they are entitled to help?

Sometimes it's nice to have something back after paying hundreds of pounds in tax every month? Ok so maybe not handouts but a better childcare system which allows a little more flexibility and cost effective?

In terms of income, I could be looking at perhaps maybe a 20% pay rise if all goes well in the new year, however nothing is signed yet

Thanks for all of the comments

sheramber

Do you want an extra £530 a month?

Does your wife want to protect her employment status?

Or does she want to stay at home and look after her child/ren herself?

Savvy_Sue

03022242 wrote: »

We are looking at childcare costs, i can get childcare vouchers from work which will help, but i was wondering whether its worth wifey working at all?

Surely that's got less to do with the costs, and more to do with what your wife would like to do?

For me, it was a sanity preserving thing.

03022242 wrote: »

quick calc suggests shell be left with £530 after childcare costs

Why do the full costs of childcare come off your wife's salary? Why, oh why, do people persist in subtracting the childcare costs from ONE PERSON'S earnings (usually the woman's), rather than either from the higher paid earner, or from the household income?

Fireflyaway

£500 a month after childcare is quite a decent amount. Sounds like you could afford for your wife not to work so the choice isn't just financial. Would she be happier at home or working ? There are benefits to both. Longer term she might find work progression easier if she keeps her foot in the door. I'm guessing she will work once your child is older? For me my child benefitted from nursery on a social level and part time work provided some extra income and a sense of purpose. I know some people who break even but still work because they enjoy it. Decide what makes you both happy.

ViolaLass

Savvy_Sue wrote: »

Why do the full costs of childcare come off your wife's salary? Why, oh why, do people persist in subtracting the childcare costs from ONE PERSON'S earnings (usually the woman's), rather than either from the higher paid earner, or from the household income?

Because that is the salary that will be lost if she doesn't go back to work.


OP, explore the part-time options first, know what is and isn't possible and what your wife wants. It isn't just about the money.

03022242

Savvy_Sue wrote: »

Surely that's got less to do with the costs, and more to do with what your wife would like to do?

For me, it was a sanity preserving thing.

Why do the full costs of childcare come off your wife's salary? Why, oh why, do people persist in subtracting the childcare costs from ONE PERSON'S earnings (usually the woman's), rather than either from the higher paid earner, or from the household income?

Wow, I didn't think we were that judgemental in this place! So in answer to your question, I pay all of the bills, mortgage, petrol, food shopping etc etc need I go on?

It was just ease of calculation, thanks to all of those useful replies, mods you may close this post, lots of thinking to do!

kingfisherblue

When I was married, we paid the mortgage, bills, food, petrol, etc - from our earnings. We didn't have my money and his money, we had our money as a couple and later as a family. I think that's what other posters are saying - that it isn't one person who is responsible for a specific bill (such as childcare).

You could consider one of you working part time, or working evenings and weekends if the other has weekday hours, That way, you could minimise the amount of childcare that you need to pay for.

ViolaLass

kingfisherblue wrote: »

When I was married, we paid the mortgage, bills, food, petrol, etc - from our earnings. We didn't have my money and his money, we had our money as a couple and later as a family. I think that's what other posters are saying - that it isn't one person who is responsible for a specific bill (such as childcare).

But whether the wife's salary comes in and the extent of how much childcare is needed are directly related in this case. It's a trade off. It's not that the wife must pay it but if it needs paying it will be because she has gone back to work and will therefore be earning money.

Yes, the husband could go out and work more and earn more money but he could do that anyway without affecting the childcare bill. When comparing the childcare bill to the salary gained, it's only the wife's that it makes sense to consider.

lulu_92

ViolaLass wrote: »

OP, explore the part-time options first, know what is and isn't possible and what your wife wants. It isn't just about the money.

Depending on the financial situation it doesn't necessarily matter about wants.

I go back to work in January. Do I want to? Of course not. I'll be doing condensed hours (did 40hrs over 5 days, moving to 38hrs over 4 days) and I work about 90 mins commute from home. The issue is that I'm stuck because of the money. I'll never earn anywhere near to what I get now (and I'm not on shedloads of money) working closer to home, my partner is struggling with work as he lost his job while I was pregnant so had to find anything he could, which ended up being a 12 month temporary contract, so I need to go back for stability, and he'll look after our girls and maybe get a part time night job.

Childcare costs would eat up my wage and child benefit, and we can just about pay all of our bills on my wage and child benefit, but there's literally nothing else left.

Our situation is more about how our family will survive, and not necessarily what one person wants to do jobwise.

[Deleted User]

Check how long your childcare vouchers last - it's worth getting BEFORE your little one goes to nursery - as you can accumulate them and save a few hundred quid.

e.g. my voucher scheme's vouchers were valid for a year - so you could start claiming them 9-11 months before the nursery fees start - then pay down a big chunk as they start.

Also - why don't you shake up who pays for stuff (after all, parenting is teamwork) so she's got more disposable income?