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View Full Version : Is childminding your only income, how do you manage?



Daisy De
04-01-2013, 08:37 AM
I have been on my own since 2002 and childminding for 19 years, I was just wondering whether others have childminding as their only income and manage to make it pay.

In the early days I had 3 full timers and was making very good money plus my husband's salary we were doing very very well but how things have changed. Nowadays I seem to be clogged up with part-timers on silly hours making it very difficult to take on anyone else under the EYFS ratios. I suppose I could give notice to some but I am very fond of my current mindees plus there are very few full timers around this area.

I read posts on this site about people having 10/15+ mindees well how do you do that are they all one day a week? I suppose it may be childminders with assistants.

I have just completed a chart of my current mindees, who is here when, and without going over 3 under 5 here and there I can't really take on anyone else but I desperately need to financially and its really getting me down. Have had a couple of enquiries recently but they are both 3 days a week which I can't do unless I give notice to a current mindee but I would hardly be any better off so seems no point.

Worrying about how I will pay the bills plus the house is falling apart around me. How do others cope? :(

AliceK
04-01-2013, 08:47 AM
Since August I have been a single income family when me and OH split up. With tax credits I manage to get by but it's been a huge change for us. I plan all meals and only buy whats on my shopping list. I have also cut down on the electricity we use and have reduced my electricity bills from £120 pm to £90 pm. I feel lucky though that this job to a certain extent means we can increase our income if we need to. I took on another child doing hours I didn't really want but we need the money.

xxxx

The Juggler
04-01-2013, 10:09 AM
it is hard fitting in new children with lots of part timers - but not such a huge financial gap when they leave.

Firstly, the new enquiries, what about taking a new child on 2 days a week to start -if parents can manage for a short while, then put in place a variation to increase days to 3 days :thumbsup:


Secondly, if you have all p-timers, you can have 10-12 children without an assistant - over 8's included. At the moment I have 4 EYFS each day (5 over the week) and before/after schoolers and 9-10 of us walk to school some days. When I had lots of after schoolers I also had 6 different part-time EYFS children on different days and total on my books was 11.

CM is not our only income but I need to earn half the household income to pay the bills (our house is also very scruffy - decoration wise) and there never seems to be time to do the jobs that really need doing to make it look better :panic:

jackie 7
04-01-2013, 12:47 PM
I am going through a bad patch with mindees as I need 1 more to make it ok. I get housing benifit as I rent and childminders get a better rate. If you rent go for it. If I didn't have to pay inland revenue £400 a month for last years tax I would be fine. I am single so it is my only income. I don't do after schoolers but as I live close to London I get a good rate. I love being my own boss. I have a friend who like me has cm as only income. It is possible to make a living. I dong have children so I have less outgoings.

sarah707
04-01-2013, 01:37 PM
There are other jobs you can do from home which you can run alongside childminding - a friend of mine takes in ironing to do in the evenings, another friend babysits 4 or 5 nights a week (but her children are older I don't know about yours), another friend does cleaning early morning before the mindees arrive...

The first thing I did when I was single was to check I was paying the least possible amount for all my bills. Really chop them down and get rid of things you can do without - do you really need an expensive sky package or mobile phone contract? Things like that can go.

Make sure you are claiming everything you are entitled to - check with tax credits and other benefits.

Once you've done that you can do a proper budget and work out exactly what you need to survive - plus a bit extra in case there's a late payment or a problem with the house. Try and put away a few months' money - over time - so you have a cushion in case you are ill.

Then think about what you can downsize / sell to help the money every month. There is a big market for things like old clothes, toys if you have too many, books... all sorts of things can be sold to top you up a little bit every month. Get the children in on it as well -declutter their rooms doing a bit at a time.

Hugs xx

scottishlass
04-01-2013, 03:06 PM
There are other jobs you can do from home which you can run alongside childminding - a friend of mine takes in ironing to do in the evenings, another friend babysits 4 or 5 nights a week (but her children are older I don't know about yours), another friend does cleaning early morning before the mindees arrive...

The first thing I did when I was single was to check I was paying the least possible amount for all my bills. Really chop them down and get rid of things you can do without - do you really need an expensive sky package or mobile phone contract? Things like that can go.

Make sure you are claiming everything you are entitled to - check with tax credits and other benefits.

Once you've done that you can do a proper budget and work out exactly what you need to survive - plus a bit extra in case there's a late payment or a problem with the house. Try and put away a few months' money - over time - so you have a cushion in case you are ill.

Then think about what you can downsize / sell to help the money every month. There is a big market for things like old clothes, toys if you have too many, books... all sorts of things can be sold to top you up a little bit every month. Get the children in on it as well -declutter their rooms doing a bit at a time.

Hugs xx

Yeah selling unused toys/clothes made me a good few hundred pounds when I was waiting on my reg an skint!! I use a Facebook selling off local to me and people collect or meet me locally x

kel1983
04-01-2013, 04:01 PM
I buy and upcycle furniture for extra income. I know this not may be an option if you have young children. I tend to spare a couple of hours a weekend to my projects. I also look around car boots etc for otems that may sell on to make a profit.

jillplum
04-01-2013, 05:21 PM
I am have been single and childminding for over 10 years now. I have 3 teens and yes it is my only income. I have never recieved any money from their dad lol. It can be done. It was hard at first as my twins were only 2 so I only had 1 space for a lo. I had to claim income support at that stage! Now I make enough to keep us all and pay all the bills etc., and have a holiday too. I am a savvy shopper and I have bought and sold stuff on ebay etc. I buy gifts all year round whenever I see a bargain. I cook alsmost all meals from scratch using whatever is in season or on the reduced shelf :laughing: It can be done but can be a struggle when you ae starting up. Good luck.

Bananabrain
04-01-2013, 06:03 PM
I am the only wage earner although my husband is reg'd as my assistant.
We have 6 on our books [three of which are full time] and we manage financially, just.
I am hoping that in the next few months I can clear a couple of large debts [on a mission to do so] so things will be easier. My husband is a bit of a banana when it comes to money [hence the debts] so I hold the purse strings. don't like doing it but it's the only way.
I suppose I am quite good with money, I left home at 17 so am used to fending for myself to an extent. I have one 14 yr old son and have often thought I couldn't cope financially if I had more children.
I am very proud that I have managed to 'hold things together' for 6 yrs now and have worked extremely hard to build up my reputation etc. I work alot of hours.
It's tough, I'd be lying if I said it wasn't. This job/stress/ long hours/ debts have been known to reduce me to tears but by the same token childminding has been a revelation to me and made me sooooo much stronger.

Daisy De
04-01-2013, 07:45 PM
Thank you all for your kind comments, suggestions and support.

I can see there are a few things I can do to make ends meet, I have thought of another job to run alongside the childminding maybe this needs a bit more investigating, I probably do have lots I could sell, one person's rubbish is anothers treasure after all. The suggestion of taking on a three day child two days to start and then increasing later hadn't occurred to me but as both interested parents families are having the children the other 2 days it certainly is a possibility I will look into.

I have grown up children living with me, who have full time jobs and who pay rent, they have to lol but I don't think it does them any harm and I do get a small amount of working tax credit.

However, looking at the big picture and being positive, I have been on my own since 2002, have a big four bed house, albeit needing a lot of work but I am paying the mortgage and bills every month so far and have no loans or credit card debt so maybe I am being a bit hard on myself. Maybe I should look at how I have held onto my home all these years on my own though good and bad times and with a bit more thought and economising I'm sure I can continue to do so. :thumbsup:

lynncjt
04-01-2013, 08:04 PM
I'm single and started as a childminder in August and this is my only income! First months were tough but I'm nearly full with under 5's (just have one space on Tuesday and 2 on Fridays), but it's been slow getting older kids, if I could get more of them that would be the icing on the cake! I manage now but not really saving any extra, hopefully with XMAS out of the way I should be able to put a bit by now.

It sounds like you've managed really well and should be chuffed with yourself!

jackie 7
04-01-2013, 10:31 PM
Daisy dee you are wonderful. We childmindrrs rule!! We manage budgets crazy parents and are in charge of our own destiny. We should be in ca Hargreaves of the country. Oh yes sorry just too tired to do that.