childcare costs

[titch]

Currently we are living to the egde of our means, literally we've got nothing spare at the end of every month. We get about half our childcare costs covered by tax credits at the moment. At our renewal in april next year we will hardly be entitled to anything, less than £80 per month according to the calculator. But LOs childcare costs are £99 per week. Im actually sat here crying cos I just dont know what to do. We will be spending more than we take home and we've already cut everything back as it is.

From September 2012 LO will get a parttime funded childcare place which will significantly reduce our childcare costs but between april and september we're screwed. We cant even save for it now cos we've got no spare money every month.

How much more can a working family be expected to squeeze their belts?! I dont understand how they work out tax credits cos it should be plainly obvious looking at our income then £99 per week childcare is not affordable.

Sorry Im rambling. Im really upset that it might be true that Id be better off staying home.

 

[Princess81]

sorry i don't have any advice hun xxx

 

[titch]

oh and if I was a SAHM then we wouldnt be entitled to income support because OH works full time even though his salary wouldnt cover our bills let alone food. Hes not even eligeable to apply cos he work too many hours, which means even if you worked full time on minimum wage, youd be expected to support a family on that?? WTF?! this cant be right.

 

[NinjaKitty]

We're entitled to precisely stuff all too so its gonna be a major squeeze when I go back to work. The only thing I can suggest is does your child care provider accept state childcare vouchers? And would your employer do the scheme whereby you can have some of your pay in the childcare vouchers? The benefit of using the vouchers if you can is that money is taken straight from your wages so you get tax breaks on it. If you and your OH can both get some vouchers through work like this then it could mean up to a £2k tax saving a year depending on your wage and value if vouchers taken. Maybe worth a check out to see if this would work for you.

 

[titch]

the problem with using the vouchers is that we'd have to declare it on our tax credit claim as an empoyment benefit and it would reduce our tax credits to £0 so we'd lose out of £70 per month. Could we save more than £70 per month using the vouchers?

 

[Emmamb]

Do either of ur jobs allow u to work in the evening or at a wknd,or are u both 9-5? If you could juggle your work round so that there's a parent at home 90% of the time then that definitely helps-hence y I work night shifts xx

 

[titch]

No both our jobs are set hours I could do some private work at weekends, we'll have to see how that would affect our tax credits

 

[Emmamb]

How about cutting down to part time till September? x

 

[titch]

I do 18.5 hours, can't do less than 16 cos it will mean we won't be elligeable for any childcare costs

 

[Emmamb]

Out of ideas then hun x

 

[titch]

Thanks for trying its good to talk it through to make sure I've not missed anything. X

 

[Princess81]

What about : if u have a friend that works part time as well but different days to you, you take her l/o whilst she's working and then she has yours whilst you are at work? Then it's kinda free? Does that make sense? X

 

[xxbeckyxx]

What about : if u have a friend that works part time as well but different days to you, you take her l/o whilst she's working and then she has yours whilst you are at work? Then it's kinda free? Does that make sense? X

While this is a good (bloody brilliant actually) idea, I think there were a couple of women arrested for doing this a while back - apparently it is illegal??? Don't know whether they were claiming money for it or something and that was why, or whether the government just decided that people can't help each other out...wouldn't be surprised!

Then again, if tiny's situation is different now anyway she may not have to worry as much, let's hope so

 

[titch]

definately, things are very different financially right now. SO Ill be waiting to see where im at financially before trying towork things out.

 

[Princess81]

What about : if u have a friend that works part time as well but different days to you, you take her l/o whilst she's working and then she has yours whilst you are at work? Then it's kinda free? Does that make sense? X

While this is a good (bloody brilliant actually) idea, I think there were a couple of women arrested for doing this a while back - apparently it is illegal??? Don't know whether they were claiming money for it or something and that was why, or whether the government just decided that people can't help each other out...wouldn't be surprised!

Then again, if tiny's situation is different now anyway she may not have to worry as much, let's hope so

Oh bummer. They always have a way of screwing with things

 

[Esoames]

I claim vouchers through work and I get £243 worth for £130. It's took out pretax so I make a pretty huge saving x