The true cost of childcare…
If you’re currently employed and used to juggling childcare over the holiday period, you know that feeling. It’s mid-month and the cost of entertaining your little ones is frankly startling. Plus there are thirty-one days in August, so payday isn’t exactly looming. So what can you do?
A recent article in the Telegraph suggests that childcare in Britain is a ticking time bomb. Many parents don’t have grandparents around the corner who are willing – and necessarily able – to help provide countless (and crucially, free) hours of fun for little ones.
Yet most of us know people who have no choice but to send their children away for a week or two in the summer to stay with grandparents who live miles away or even abroad. Add more than one child into the mix and it can mean the total cost of childcare exceeds your actual monthly salary. So much for enjoying the ‘lifestyle choice of having children’ that George Osborne has talked so much about in the past.
An easier way to keep those balls in the air
We all know that parents who work are finding themselves stretched in more ways than one.
We can’t be sure what the answers are – after all, we’re all different. We suspect, as the article suggests, government is crucial in playing its part in helping parents to find the work/life balance they’re looking for. And things are improving in terms of flexible working requirements. But slowly.
Employers are becoming more savvy about the brilliant benefits that flexible workers can bring to their businesses. After all, flexible workers can mean they can recruit people with exceptional skill sets for less money than they would on a full-time salary. And part-time or flexible workers are often well worth every penny, proving to be highly organised, dedicated and motivated employees.
Meanwhile, for those who are willing (and able) to take a hit financially and work part-time by reducing their days or as a job share for example, the benefits could outweigh the negatives. And it might not mean you’re less solvent – your cost of childcare is likely to come down. So you could actually end up seeing more disposable income at the end of the month. It goes without saying that it’s always worth checking your tax rates and keeping an eye on what help you’re entitled to, based on your income.
Of course, every sector has its various challenges and differences. If you work in the City of London and are looking to progress your career, don’t miss this useful website dedicated to working parents in the financial sector, citymothers.co.uk
In the meantime, why not contact us to discuss your flexible working options? It could be a stepping stone into a new phase of your life as a working parent.
We look forward to hearing from you.