No Tax credits for us :(

[foxeeylady]

Myself and partner have worked forver well since we left school so 15 yrs each we worked, I have Just found out I am pregnant very happy but also shocked as was told I would only conceive via IVF, anyways I earn £18000 and fella earns approx £22000 per year, been on turn 2 us website to find out if we would get childcare help and we will get a big fat £0.00. I have got no family that can look after my baby and I will have to pay £600.00 per month alone in child minding fees, Im a bloody mess now I really want to carry on working, ive even thought about going part time but we would still be completly broke, Im debating wether to have my baby now as I want to be able to provide for it buy it clothes, take it for days out, and I dont want it to be an environemtn were its parents are going to be arguing every day about money and bills, im soo stressed out

 

[My_First]

Do bear in mind that you will still take home £360 a month after £600 child care fees, plus you will also get child benefit £30 odd a week. So its not totally all doom and gloom...

 

[cassysuri2010]

Depends what your outgoings are and on what? I have one child and we survive on £21,000.

 

[Dinah93]

Do either of your employers offer childcare vouchers? These come out of your pre-tax salary so it certainly helps.

 

[weebubbles]

does either of your employers offer flexible working? mine does and lets me work my 35 hours over 4 days rather than 5 - longer days but saves me £150 a month in childcare.

plus you will get child benefit of £20.30 a week.

 

[kanga]

Childcare vouchers can save you about 25% on your childcare costs so worth looking into

 

[rjm09]

We only make £28,000 , and we own our own home, own 4 dogs, 6 vehicles, have one child already, and have another on the way.

We don't get ANY help at all from the gov't and don't need it!! Still do what we want when we have the time. We don't have a sitter for our ds either, i'd prefer being with home all week while dh works, i work 21hr weekends. Dh tends to him then. I used to work fulltime, and was worried too about not having enough for our family. No childcare saves money. Diapers and formula are the biggest expenses. Ds has never eaten from a jar of baby food from the store! Bought fresh when in season and on sale, processed and froze it. Family and friends will help with startup. I wouldn't get all worked up about it.

 

[littleblonde]

We have 2 kids and my oh earns £17000 a year. We get a little help.But no where near what you get. you will manage. Easier than you think x

 

[suzib76]

Myself and partner have worked forver well since we left school so 15 yrs each we worked, I have Just found out I am pregnant very happy but also shocked as was told I would only conceive via IVF, anyways I earn £18000 and fella earns approx £22000 per year, been on turn 2 us website to find out if we would get childcare help and we will get a big fat £0.00. I have got no family that can look after my baby and I will have to pay £600.00 per month alone in child minding fees, Im a bloody mess now I really want to carry on working, ive even thought about going part time but we would still be completly broke, Im debating wether to have my baby now as I want to be able to provide for it buy it clothes, take it for days out, and I dont want it to be an environemtn were its parents are going to be arguing every day about money and bills, im soo stressed out

quite honestly i think your post is disgusting, not to mention against the rules. i really hope you are just a troll and this is not a serious post

there are so many things wrong with it i wouldnt know where to start

 

[suzib76]

just read your other post where you say your pregnancy is a 'miracle and you dont want it to end'

 

[SweetChilli90]

Me and OH live off student finance with a baby, we get a bit of help in terms of benefits, tax credit but that's nowhere near even just what one of your wages is and we have plenty. Manage your money properly and you'll be fine.

 

[// arcadia]

Have you actually rang the hmrc? Im pretty sure you be entitled to some childcare credits!

 

[fuzzylu]

we earn roughly the same as you do and we recieve working tax credits or £90 a week. Our nursery fees are £600 a month for 2 toddlers 2 days a week. it worked out we were better off with me working 26hrs a week than full time. i work 2 13 hour shifts and some weekends. we do not have as much disposable income as we did pre children but they are clothed and well fed.
sounds like tou neeed to sit down and look at you income and out comes and see where you can cut back.

 

[fairy1984]

if you feel so strongly about providing for your child then why didnt you find out before you got pregnant if you could afford it? sorry to sound harsh but your post saying about not being sure if you want your baby now you've done the maths is disgusting

 

[MrsRH]

Childcare vouchers can save you about 25% on your childcare costs so worth looking into

this is not quite right

childcare vouchers are a salary sacrifice scheme which means an amount is taken off your gross salary every month and this transfered directly to your childcare provider towards the fees.


you 'win' and save money as this amount is not subject to tax or NI; the maximum amount you can save per month is £78 per person ie. both parents can sign up for vouchers from their respective employers if offered by them (assuming basic rate payer)

so it's not really saving a percentage of childcare fees
hth

x

 

[ellismum]

1. The amount you can earn before paying tax is rising from £7475 to £8000 a year, those earning will see increases in their salaries. For most who get the basic tax credits of £10 a week it more or less cancels it out.

2. If you pay for Childcare, 2 parents with 1 child potentially STILL qualify for the working element as long as you are paying Childcare costs, if earning upto £41k joint.

3. HMRC have sent 1million letters out in error saying people are losing when they aren't

www.moneysavingexpert.co.uk has all the information you need.

 

[ellismum]

Double post

 

[Laucu]

Your earnings are a lot higher than this household and we manage! and have another on the way! Don't panic. You will get by just fine.

There is more to life than money