This might seem a bit nosey but not looking for a total breakdown or anything. We're still deciding whether I should go back to work or not (saga at this stage) but we'd both be really pi$$ed off if we were working full time and not really alot better off IYKWIM. By the time we take childcare for 2 into consideration on top of the other ongoing bills will we still be scraping by?
Are people comfortably off with both working or what?
Of course i know that it is a cruel world out there and I may not be lucky enough to secure a job
I don't think I'll be going back when I have two.. or if I do for very few hours at least not for a year or two.
I've been crunching numbers on excel and (bearing in mind I'm only going back p/t anyway) we will be paying out £601 a month for my baby to be minded and taking in £611 for Baby B alone. So, obv when I have two, I would be working for nothing really (don't think the 10% discount for having two in nursery is really going to save the day!)
I'm having this same debate myself, although only one at the minute, thinking of trying for second in the next year.
Between creche for 2, and petrol, i'll only be getting bout 500 a month, if i continue to work, and if i didn't work, dh would get 500 more with my tax credits, so really working for nothing if I have two.
But then benifits are that you have more job security. my dh works in construction, and while stable at the minute, you just never know when he could be let go. at least if i'm working, and he loses his job, i have the security that we can live and not loose the house or anything on my wages (if no creche fees if he was unemployed). Other factor is that the creche being so high is only for few years until ds is in school, but then again, that means you only have a few short years to enjoy them while so young...
It's definitely not an easy decision, but I'd say just consider your dh or partners job, how secure is it, and if married, how much extra he'll get by you not working if you are joint assessed, in tax. Makes a big diff if he is on the higher rate of tax.
you will need to know the tax credits etc but it will give you an idea of the financial side of things.
This tax calc is good,
and on top of this, i absolutely love working in the area that i am in, so we are pretty happy with this to be honest.
i will be going back to work after no 2.
we are lucky that my mum and MIL look after DS, we do pay them but not as much as a childminder would cost (20 per day currently). after no 2 is born we are going to put DS in a creche in the mornings so my mum / MIL don't have the two of them all day long as it would be a bit much, i think this will be good for DS anyway.
taking into account all of this, we would still be almost 1500 pm better off if i stay in my current job, although i want to move to a less stressful job that is closer to home which will mean a bit of a pay cut but still will be better than not working. i haven't worked out the extra tax credits DH will get if i stop working, but i don't think it would be anywhere near this.
we could afford to live on DH's salary alone, but would have to make a lot of sacrifices to our lifestyle which i am too selfish to do
We are thinking about DH giving up work or only working weekends when my ML is up. I'm just not sure he'd be really happy, think it's lonelier for men as fewer of them are at home with the baby.
If there's any chance you won't be better off then do all the sums so you are sure before going back
I'm the main bread winner in our house, so me not going back is not an option
I will be going back to work after this one but only on a three day week. No point in working to put both into creche full time. I had worked it all out (in england) that with tax credits and free 15 hours childcare from the age of three it would be mad to go to work for a full week but now we have a new government and god knows what changes are in store.
DH is out of work (just getting days here and there) so i had to go back, however im only back on 3 days as me working full time means his dole gets cut so we would have less money!
H2B has a good job but with all the government cuts things are a little tight and with a wedding coming up I had to go back to work. Only part time at the moment and lucky that MIl will look after DD for us. No option really.........Kinda glad though as I would have been driven mad trying to decide the pros and cons. Good luck
I think they'll keep the 3 years + childcare - I think there would be war if they didn't! They haven't cut our child benefit yet - phew! I am putting Baby B in a children's centre so am worried about that!
[quote="delgirl":1srm7x95]I will be going back to work after this one but only on a three day week. No point in working to put both into creche full time. I had worked it all out (in england) that with tax credits and free 15 hours childcare from the age of three it would be mad to go to work for a full week but now we have a new government and god knows what changes are in store.