Expecting first baby - childcare costs don't add up

CarolynH

giger wrote: »

but have just calculated that she earns £39.06 a day net, local childcare is £40.50. I'll break the bad news to her later _pale_

Dont forget if she goes part time, her net wage per hour will actually rise. (this is because both tax and NI kicks in after a certain level, NI is about £100 per week and tax approx £105 on a normal tax code).

Js_Other_Half

galvanizersbaby wrote: »

Oh err! - not sure what fifth disease is!? - perhaps it's a modern name for chicken pox or slapped cheek?!

It's 'slapped cheek' - I'd never heard of it before one of my pg NCT friends was sent home from school as it was going round (she's a teacher). Apparently it can be serious for pg ladies:

http://en.wikipedia.org/wiki/Fifth_disease

giger

You are right, hence why we are waiting for the all clear before going back. Don't think it is much of a problem for young kids, but can be bad for pregnant mums.

It is also called 'flat cheek'.

galvanizersbaby

My 2 have had this before - It gives young children red cheeks and a temperature - I remember my sister panicking when she was pg with her 4th child as one of her brood had contracted it - it can cause problems in pregnancy - fifth disease must be one of the other names for it!

Can't keep up these days - I remember the advice I was given when pg and 4 years later a lot of that has changed - think one of the things was not letting baby sleep on front as this had been linked to cot death - one of my pg colleagues was saying that's not the case now it's all down to temperature.
I had this awful Angelcare monitor that you put under the mattress and was supposed to detect if breathing stopped - flippin thing used to go off all the time and I used to go dashing in panicked only to find baby snoring away happily :mad:

SuziQ

I always used childminders,found them alot cheaper than nurseries and liked the 'family' setting. Even 5 years ago I was paying a lot more than £3 an hour though-it does depend on area etc and my fees increased when they all had to start paying taxes!
The killer for me-and one of the reasons I gave up working when my son was 1 year-was that my husband was paying for 2 boys from his previous marriage. My childcare costs weren't included in the CSA calculations,so that we were paying his ex more than I was earning. I had to make the difficult decision to leave,although my current CM had decided to go back to office work and my youngest,who is autistic,was difficult to place elsewhere as he wouldn't settle. The whole benefit system baffles me.

Sarahsaver

I just would not work if i paid out more in childcare than I earnt! its different if the tax credits help you.
You dont need to stay at home and get 'brain rot' though or be isolated, there are sports centres, sure Start groups, stay and play sessions, part time college courses.

Floxxie

Sarahsaver wrote: »

I just would not work if i paid out more in childcare than I earnt! its different if the tax credits help you.

I had £10 left over after nursery fees but I worked because I had a great job which was my career. I am on maternity leave and although I realise that I can't afford to go back to work, it is terrifying to be leaving the workplace (and it has taken 3 kids to finally give in). Some people just want to work, perhaps not for the (lack of) benefits they will get now but for the ones that they will get when the children are at school or have left home etc.

[/quote]Floxxie - we've already done some initial quotes on CTC and unfortunately your figure is not a fixed amount. It's about 20% less for us. Thing that has now sunk in is how much it all adds up. Easy to think £18.80 child benefit doesn't go very far, but added to any CTC, maternity pay and other bits & pieces it looks like it will be the difference between not affording to pay for everything, or just covering the costs.[/quote]

Giger, if you will be getting reduced CTC then it means you are bringing in as a couple, over £50k p.a.- if that is the case, then I really think you need to have a rethink on your approach to money and your priorities. It is a shock to go down from a good double wage but it is perfectly possible and you may find that you are in a better position with your OH staying at home, rather than returning to work...it just depends if your OH wants to work to pay for childcare costs. Believe you me, it gets very depressing at times with not earning anything.

Floxxie

giger

Not sure where you have got this info from, all tax credits are means tested so surely everyones figures are different.

Can't quite see why you are going on the attack here, as previously mentioned we look after our money. Everything is budgeted, we always look for the best deals on just about everything and have no debts. My OH earns less than the average wage so i'm not sure where you have your figures from.

Floxxie wrote: »

you need to have a rethink on your approach to money

A shocking statement given how open and honest I have been in this thread.
:mad:

galvanizersbaby

giger wrote: »

Not sure where you have got this info from, all tax credits are means tested so surely everyones figures are different.

Can't quite see why you are going on the attack here, as previously mentioned we look after our money. Everything is budgeted, we always look for the best deals on just about everything and have no debts. My OH earns less than the average wage so i'm not sure where you have your figures from.



A shocking statement given how open and honest I have been in this thread.
:mad:

Hello Giger - don't think a rethink on your approach to money is required - it's simple really - because your OH earns so little and your preferred childcare is so expensive it means that she won't be breaking even as her wage is lower than the cost of the childcare - in fact you will be paying towards the childcare from your own wages - your joint salary is obviously just out of the bracket where you would qualify for more CTC - you've lucked out there.
You should consider cheaper childcare but if you don't want to do that (and I understand all your reason's) then you'll have to manage with the situ as is)
I see your frustration with it all but there is an element of wait and see - your wife may not want to return to work/ she may be desparate to get back - you may change your mind about the nursery - you will work it out - don't take people's comments on here too much to heart!

flea72

giger wrote: »

Not sure where you have got this info from, all tax credits are means tested so surely everyones figures are different.

yes, everyones figures are different, but the formula for working out how much you will get is the same for everyone. If you have an income of between £30k and £50k, then you get the basic rate. i think from memory you are saying you dont even get this, so based on that, then we can only assume that you have quite an income

everyone has different outgoings, and ways they use their money, but when people earning a quarter of what you do are able to manage their finances, and can still afford to work, pay childcare, and bring up their children, you do start to wonder what planet those with higher earning potential live on.

After paying for childcare, car parking, travel, etc. i take home about £15 a week. to some they may see that as slogging my guts for little return, but to me, that £15 is better than bringing in nothing. i sure know id miss it, if i didnt have it. The weird thing is though, i tend to find that the less income i have, the more money i tend to have in the bank at the end of the month. I thnk when you earn more, you spend more, i dont mean in quantities, but just because, you dont have to think about where the next £ is coming from, as much as you do when you are on a very low, limited budget

i dont know if you have done a SOA yet, but sometimes it can help, if outsiders can see places for you to cut back. i know when i worked f/t i felt i had to be saving for some mystical 'future', so thought nothing of putting £100s into savings plans each month. they were the first thing i cut back on. i dont have any regular savings plan now, and guess what, we still dont go short on anything.

also as soon as i found out i was pg, we tried living on one wage (easier to get used to, when you dont have to budget for nappies, formula, etc.), so by the time baby arrived, we more or less knew what we had to do workwise to bring in the income we needed, again, it was substantially less than we imagined

Working, having kids, and still having a life is possible. at times it can be hard, but you crack on, deal with it, and ultimately come to the conclusion money doesnt really matter at the end of the day, as long as you have somewhere to live and food on the table

Flea