Childcare is bloody expensive!

PeppaCoin

I'm currently on maternity leave and pondering on the sums for when I return to work. I earn £28k and husband £19k. I need to return to work full time as I can't afford a cut in salary and it wouldn't be possible with the work I do. We have 2 children - a 5 year old in school and a newborn.

Newborn childcare - using a childminder at £45 per day x 5 days a week, for 47 weeks a year. £10,575 per year or £881 per month

Son - before school club for 5 mornings a week at £6.50 per session and after school club at £11.50 per session for 4 afternoons. Total per week is £78.50. This will be for 39 weeks of school term, ie £3062 per year. He will also have to attend summer club for another 8 weeks of the year 5 days a week at £25 per day (£1000). Total £4062 per year or £338.50 per month

So we're looking at spending £1220 a month on childcare alone. The thought is making me so nervous.We don't have family or friends who can help with childcare and even with the help of childcare vouchers or taxfree childcare I can't quite get my head around being able to afford it. Our salaries are £47k in total so I know plenty of couples earn less, but I have no idea how they cope.

Looking at it another way, my day rate is £107. I probably take home £72 per day net, yet it costs £63 per day during term time and £70 per day in the summer to put the children in childcare. How depressing to be working for a few pounds per day.

Am I missing something really obvious, or is this just the case until the 30 hours kicks in for us in 2020?

Official MoneySavingExpert Insert:

Thanks for posting PeppaCoin.

If you're joining us from the weekly email scroll down to see what our forumites think about childcare costs. Our Childcare Costs Help guide should also help you.

[purplesignup][/purplesignup]

Relax

Could your partner reduce his hours or even become a stay at home parent ?

katglasgow

You need to both claim childcare vouchers to maximise tax back. Our joint income is significantly less and we have always paid for childcare too. There are a few years when I felt I was just working to keep my job open but it was def worth doing and costs go down significantly as your children get older..
My husband and I often take different weeks off to reduce holiday costs although we always have a fortnight off together in the summer. Also we make use of council run sports clubs / football / drama camps during the summer which are usually cheaper than private childcare providers.
Lastly sometimes you can do a deal with a friend where you mind their kids one day a week and then they take yours on another. This might enable you to reduxe down to 4 days a week or perhaps your hubby even.
I know it can be hard not having family help but I know so many people who have terrible relationships with their parents /in-laws yet see them every day for childcare it sounds so stresful for all I think it's good not to have these tensions and he free to bring up your children the way you wish without this.

Spendless

I couldn't afford the childcare when I had my first child. The cost was equivalent to my net take home pay. Said child is now over 17.5yo, so it's nothing new.

We managed by me taking a weekend/evening job when my husband was home to care for child. Is this an option?

trailingspouse

'Twas ever thus. Back in the 1990s I realised that I was paying my childminder more than 50% of my take-home pay - in other words, she was earning more than I was. I decided to become a childminder myself (would rather have that money coming in than going out), but that's another story.

It's easy to say 'you should have thought it through before getting pregnant' - but honestly, if we really thought through all the consequences of having children, there would never be another child born...

Think of it as an investment in the future - yours and theirs. Yes, it's a pain, and after a hard day at work and picking up exhausted children you really don't want to think about how much it's all costing - but it needs to be done if you want to keep your career on track.

svain

Not aimed at the original poster ... but I just dont see the logic in employing someone virtually full time to bring up your own children .... children seem an inconvenience more than a privilege for many

svain

surveyqueenuk wrote: »

What a vicious, nasty thing to say.

You do realise that the majority of parents have no choice but to go out and work. Do you think they should all claim benefits instead?

It seems to me like mothers (and it's always the mothers - never the men) can't win. They get slated for working outside the home, they get slated for claiming benefits, they get slated for relying on their husband's wage.

I dont think anyone would slate either parent for staying home and claim "top up" benefits if the other parent is working full time

PeppaCoin

Relax - we hadn't really considered that. I don't think he would want to to be honest just the same as I don't want to be a stay at home parent. I need to work for my own sanity. Plus we have debts to repay

Kelpie - yes we were aware of the costs having paid nursery fees for our first child for 4 years. However when we conceived our second my partner was in a better paid job and was unfortunately made redundant amd has takrn on a lower paid role, and the family member who had offered to help us with childcare has since passed away. Circumstances change. I actually wasn't complaining. Just asking if I was missing something out but thanks anyway! Your comment questioning my parenting - not so welcome. I didn't invite you to comment on that

Katglasglow - thanks for the tips. Definitely something to think about there especially the council run clubs. I wasn't aware of those. Thanks.

Spendless- I would struggle with weekend work as husband works 5 out of 7 days which often includes weekends but might have to look into evening work. It's pretty hard to swallow when you already work a 45hr week, plus travel then have to fit in running the house too!

Trailingspouse - I am trying to see it as an investment. I love my career and feel I should be able to be a mum and have a career. At least the free 30 hours mean the payments won't be so high for too long.

PeppaCoin

Svain- I have almost always been a full time working mum since my son was born. I worked 4 days per week for a while then 5 days whilst he was at nursery. I never felt as though anyone but my husband and I were bringing him up.

PeppaCoin

I would also rather struggle in the short term and have my children for the rest of their lives rather than have not had them and have had a little more money.

We have the age gap we do because we always knew 2 in nursery would not be possible for us financially, so waited until our eldest started school.

PeppaCoin

Thanks surveyqueenuk - there's always one! You're right. It's slaying from all sides once you become a mum!