How are you coping with childcare costs?

Question

I really don't know how I'm going to do it. I was recently promoted whilst I'm on maternity leave and I am getting a small pay rise plus lots more responsibilities. I had to turn down some of the hours they're offering me (I can increase them later on). I am looking for childcare starting September for my daughter she'll be 1 and it is so expensive. My partner and I will be splitting the costs but it's already looking like almost half my pay check is going towards it 😔 I thought we would at least be able to save for our own place. He wants to work nights whilst I work in the day or alternate it somehow which will mean not seeing each other much. Although I don't see him much as he finishes work at 11pm and I'm usually knocked out by then.

Answer

It’s tough but once she’s 3 you will find it easier. Short term challenges to long term success. We save £200 a month each in an isa while I was at uni and paying £700 pm in childcare. If there’s any vouchers schemes by your employer or his look into it to help and tax credits are supposed to be helpful too. Make cuts in stuff you don’t need and plan your meals for the week to save money. Aldi and lidl arw good enough to feed most of Europe so it’s good enough for me. Make sure you get to spend time together as a couple with date nights and book a day off work together while you’re little one is at nursery. If it’s going to work it will and if the stress is too much you’re going to do what you want anyway.

Answer

Sign up for the tax free childcare. The government pay 20% towards childcare fees up to a maximum of £500 per quarter.  It's easy to do and well worth it!

Answer

I am finding it hard to think about having a successful career AND a family. I've recently gone back to work on a 4 day week, my 11 month old is in nursery 2 days a week which is £650 a month (not including any tax benefits), we are going through an expensive house move and I found out we are expecting our 2nd baby.
My boss is going to be gutted as he's so happy I am back! But to be honest, by the time our 2nd baby needs to be in nursery I can't see us affording me to go back to work AND pay for 2 babies in childcare! It's so hard starting a family but will be worth every second/penny x

Answer

It’s going to be tight for my husband and I as we don’t have family to help out. it’s meant that I am only returning part time as if I work more hours the childcare costs would outweigh the increased wage I get.
Both of our employers have stopped the childcare voucher schemes so we can only use the government tax free childcare. From what I’ve read you open the account one month before you use childcare. For every £8 you put in they give you £2 and then you pay the childcare provider from that account.

How are you coping with childcare costs?

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