childcare for two children

[Sunny209]

I am expecting and have a 3 year old which I waited to have another baby when we could almost afford it lol. I don't get how I'm suppose to afford two kids in daycare though I'm looking at the cheapest possible at 1600-1800 a month and my husband and I can't work diff schedules not an option and I have no family help. I almost feel selfish bringing another child in to the world when I doubt I can afford this. We are both in our late twenties college educated with student loans that don't help, one older car and one small car payment and a house that costs what we make in a year so we are not living above our means! We actually make over six figures together so I don't get how anyone can afford two kids these days in daycare unless people are making more than I thought please someone clue me in! I just get upset because there's so many people with more than 2 kids out there so what are they gping to survive and many I know make a lot less...

 

[nugget80]

Not sure but i have one lo in daycare and its not cheap. I am at uni though so oh wage is only one coming in and we get no help with it either! Your 3 yr old should start school in next couple of years which Will help. Could you not go part time til then?

 

[Pearls18]

You'll get 15 hours a week free for your 3 year old from the term after they turned 3, this worries me too and a big reason we are waiting x

 

[Abz1982]

This is our situation to. Lo will be 4.5 when 2# wil have to go to nursery. We already get the free childcare, and I get £243 and OH gets £220 per month in child care vouchers - as we have to pay for the free child care then get a refund(SO STUPID!!) an so I am hoping that we might get some help in tax creditds for childcare as I have heard a few folk saying they can claim both, as I know the tac credit allowance is per parent........not per child! For 2 we will be £800 a month for 3 days a week. I only earn £739 a month!

 

[Tesa]

Op - where are you based? Uk?

 

[xxembobxx]

This is our situation to. Lo will be 4.5 when 2# wil have to go to nursery. We already get the free childcare, and I get £243 and OH gets £220 per month in child care vouchers - as we have to pay for the free child care then get a refund(SO STUPID!!) an so I am hoping that we might get some help in tax creditds for childcare as I have heard a few folk saying they can claim both, as I know the tac credit allowance is per parent........not per child! For 2 we will be £800 a month for 3 days a week. I only earn £739 a month!

I don't think you can claim childcare costs help from tax credits if you already get child care vouchers although you should be entitled to an increase in child tax credit due to the extra child. It's usually best to figure out whether you are better off continuing to claim vouchers or make a childcare costs claim through tax credits

 

[xxembobxx]

Childcare costs are ridiculous and the reason I am now a SAHM. We just couldn't afford to put 2 LO's into nursery for the wages I earn. Seems silly to pay somebody else to look after my kids and not be any better off financially.
I'm lucky though that I work in admin so I'm not likely to be too much out of the loop from taking a few years out of employment - might not be an option for some careers.

 

[Pearls18]

Yeah I don't think you can get tax credits and vouchers. Our tax credits from April will be around £200 which I think might be better for us to use childcare vouchers instead? Both DH’s and my work do the voucher scheme so I need to look into how much we would save on that system to work out which one is better (you can subscribe to 2 voucher systems if both of your employers provide them). There is a website online that compares what you’d get with tax credits and vouchers to help you decide.

 

[Fraggles]

If you get childcare vouchers you have to let the tax credits know and they recalculate the amount of ctc you get. I currently have 2 in childcare 4 days a week and costs roughly £1200 which is more than I earn pasrt time but I do get help with those costs.

 

[Pearls18]

Oh ok so you can still get some elements of CTC but not the child care bit? I don't think we are entitled as we earn over £26k and only have 1 child but thank you that's worth remembering just so I can check to be sure.

 

[Fraggles]

Oh ok so you can still get some elements of CTC but not the child care bit? I don't think we are entitled as we earn over £26k and only have 1 child but thank you that's worth remembering just so I can check to be sure.

Its worth checking on the online tax credit calculator you only become entitled to nothing once you are hitting 40K+

 

[Pearls18]

Oh ok so you can still get some elements of CTC but not the child care bit? I don't think we are entitled as we earn over £26k and only have 1 child but thank you that's worth remembering just so I can check to be sure.

Its worth checking on the online tax credit calculator you only become entitled to nothing once you are hitting 40K+

Oh ok I thought it had changed this year to £26k, apart from child care element? Either way I will make sure

 

[Fraggles]

Oh ok so you can still get some elements of CTC but not the child care bit? I don't think we are entitled as we earn over £26k and only have 1 child but thank you that's worth remembering just so I can check to be sure.

Its worth checking on the online tax credit calculator you only become entitled to nothing once you are hitting 40K+

Oh ok I thought it had changed this year to £26k, apart from child care element? Either way I will make sure

I thought it started to drop at that 26K amount I may be wrong, wow the Government do like shafting parents dont they

 

[Mrs.S.]

Oh ok so you can still get some elements of CTC but not the child care bit? I don't think we are entitled as we earn over £26k and only have 1 child but thank you that's worth remembering just so I can check to be sure.

Its worth checking on the online tax credit calculator you only become entitled to nothing once you are hitting 40K+

Oh ok I thought it had changed this year to £26k, apart from child care element? Either way I will make sure

I thought it started to drop at that 26K amount I may be wrong, wow the Government do like shafting parents dont they

Unfortunately the cut off is 26k for families with 1 child and 30k with 2 children. earn over those thresholds and you'll get nothing. yup the government expect us to live off fresh air!

 

[Pearls18]

Oh ok so you can still get some elements of CTC but not the child care bit? I don't think we are entitled as we earn over £26k and only have 1 child but thank you that's worth remembering just so I can check to be sure.

Its worth checking on the online tax credit calculator you only become entitled to nothing once you are hitting 40K+

Oh ok I thought it had changed this year to £26k, apart from child care element? Either way I will make sure

I thought it started to drop at that 26K amount I may be wrong, wow the Government do like shafting parents dont they

Unfortunately the cut off is 26k for families with 1 child and 30k with 2 children. earn over those thresholds and you'll get nothing. yup the government expect us to live off fresh air!

I thought so, you do still get the childcare element though because we earn over 26k and still get money for that (but as I say from April we might be better off with the vouchers) we'd be no better with 2 children either.