Child care costs - confused?!?!

[RavenRose]

I've found out I'm pregnant with my first and I want to get my finances super organised. I am looking into childcare costs and I'm finding the whole thing to be confusing. I'd love a little help from someone with the knowledge or experience.

Here's our history:

Me - 25, work in a school approx 30 hours p/week. Salary 19,778
Husband - 26, works 37.5 hours p/week. Salary 25,200

I'd need childcare from about 8:00 - 16:00 term time only. What are we entitled to?!

Thanks in advance

 

[Babycrc3]

I've found out I'm pregnant with my first and I want to get my finances super organised. I am looking into childcare costs and I'm finding the whole thing to be confusing. I'd love a little help from someone with the knowledge or experience.

Here's our history:

Me - 25, work in a school approx 30 hours p/week. Salary 19,778
Husband - 26, works 37.5 hours p/week. Salary 25,200

I'd need childcare from about 8:00 - 16:00 term time only. What are we entitled to?!

Thanks in advance

I worked in a nursery before going on Mat leave, I think you can use childcare vouchers if either of your employers give them this would take some money off as full time can be expensive
Look online as I remember one day on this morning they spoke about help with childcare and what you are entitled to x

 

[Lisa40]

Congratulations Raven.

Basically if your employers provide them, both yourself and your partner can apply for child care vouchers.

What this means is that £243 per month from each of your salaries can be paid in vouchers rather than cash meaning that you don't pay tax / NI on that amount. So it saves you about £75 each a month in tax and NI.

In addition to that you'll get about £80 in child benefit.

So overall you will gain about £230 per month from what you earn now.

So our child care costs are £570 out of pocket instead of the £800 a month they should be.

Also with only needing it in term time, there will be places that provide this but I found that they were more expensive for the months that they were in, not to what you would pay in a year for another nursery that is year round, but maybe an extra £100 a month for term time only.

Hope this makes sense
xx

 

[ArcaneSpark]

Also if you can afford to buy the vouchers now and save them your employer pays them for you whilst your on SMP, wish I'd known that 1st time round!