childminding as sole income

[rachelle]

Does anyone have childminding as their sole source of income? Is it doable? Big redundancies at husbands work. Obviously we need to think about the worst. Is cm too unreliable to have as sole income? It might just be for a few months I know but trying to work out long term living....

[NI MINDER]

We did when hubby was made redundant couple years ago - managed for 6 months. Luckily had family at that stage which were reliable. We did consider registered him to work alongside me but he was successful in getting another job before we did anything about it.

Very hard to work out anything long term in this climate whether childminding or any other job - so much uncertainty.

[lilac_dragon]

I've been a Registered Childminder for more than half my life - and No it's not reliable. Just when you think everything's chugging along nicely all sorts of things can happen. It's not necessarily your fault or the Parent's fault, it's just life.
If a parent gets made redundant - so do you, it just doesn't show up on the Governments tables.
If they move away because of a job offer, you lose the children who may have been with you for years.
I have lots of children who have come to me at 6 months and only left me when they go to 6th Form, but once they've gone to school, after school care isn't a big income!
If like me you live in a rural area rather than a big city, there often isn't another child coming along in a minute. I'm lucky that my reputation is good, and I also now childmind the children of children that I minded when they were little.
If you are ill no-one pays you sick pay.
My husband is also self-employed and when he's been ill, or there's been no work, we've had to depend on my money, - and vice versa. We dread the day when both of us are'nt working, but still have the bills to pay.
I love my job, but I have to be realistic about it.

[Kiddleywinks]

As a single parent of 2, with no financial support from NRP, yes, it is doable.

When I was on benefits after I lost my job, I learnt to budget, and be strict about my spending (really really strict ) I shopped around for the cheapest deals on EVERYTHING, gas/electric/insurance/mobile/landline/food etc and now I'm back in the workplace again, have some savings and treats for the kids most weeks. (Circus and a meal out this weekend, cinema and takeaway last weekend - not much but better than we've had the last few years )

I think a lot of it comes down to your actual outgoings as they are now - I was lucky in that I didn't(don't) have any debts, loans or credit cards anymore (paid them all off when we divorced thankfully) but if I did have the amount of debt we had when I was married, then it would have been more of a struggle.

Sit down, make a list of your monthly outgoings, then go through your last 3 months bank statements and compare your figures to the ones from your bank - so you can see all the stuff you've forgotten lol, then you'll be able to see what cuts, if any, you'll need to make to make it work, or if you're prepared to make them... eg, we don't have sky/cable, only freeview, but no one in my house watches sports/movies so we haven't missed not having it (or we just got used to NOT having it lol not sure which)

[Cinderbella]

We have childminding as our sole income and have had for 3 years now, my husband got made redundant and as we had the enquiries coming in we thought he may as well register.

[Bear23]

childminding is my sole income, i'm a single parent of one and i earn quite well.

[kellib]

childminding is my sole income, i'm a single parent of one and i earn quite well.

That's the same as my situation

[brightstar]

Its our only income since DH was made redundant I find it hard having him hanging around all day. Sometimes his "help" is more of a hindrance. Hopefully he'll find work soon. Hope it all works out for you

[Bushpig]

As with any small business, depends on the service you offer and the demand in the area.

My childminding income has been solid since I started. But then I live in an area where babies seem to be born every minute.

[sharonmanc]

Yes it is doable, i am a single parent of 3, redundancy from teaching a few years back, been minding since April. My main piece of advice is save if you can, as minding is so upredictable, and also really tighten yoru budget.

[Ripeberry]

It would only work if you had lots of children on your books and did mainly part-time kids and worked all through the year.

Its certainly not workable in my area.

[hectors house]

It would only work if you had lots of children on your books and did mainly part-time kids and worked all through the year.

Its certainly not workable in my area.

I agree - it will only work out if you are working to your full capacity and the phone is still ringing for people wanting more spaces - can't remember when I last had an enquiry, luckily at moment I only have one space for one day, but as lilac dragon said things can change just like that: A mother announces that she is pregnant and not going back to work after, a father gets made redundant and is home to look after kids, you drive past a mindees house and there is a for sale sign, you make it look too easy and the parent decides to give up work and register instead!

A fellow minder told me yesterday she is taking on a baby full time, I haven't looked after a child for more than 3 days a week for at least 3 years - or had an enquiry for a full time space.

Would register your husband anyway as assistant - hopefully he won't get made redundant.

[rachelle]

thank you - really useful replies.

Will keep fingers crossed for husband - he's not been there long though and they use a points system for sorting who's staying and that is one of the criteria.

I keep reminding myself that I can pay the mortgage so even if we're living in the dark we will have the house!

We haven't go TV at all (moved into a new build and got no aerial) but there are areas we can cut out if we need to.

Thanks again x

[jackie 7]

i manage on my money, it hard when you rent like me but doable. talk to an accountant to make sure you claim for everything you can. i got housing benifit as i didnt have enough clients when i moved here and found out all childminders who rent can get it if their income is not enough. You can do it and register your husband as an assistant so if things go wrong with his job you dont have to wait to get him registered.

[Annelize]

Me and my husband are both registered childminders and its our only income. The first few months was stressful as we did not earn enough but we are now working 4 days a week and managing well. Just make sure you put money aside to help if someone gives notice. The good thing with my husband being a registered childminder means we can have an extra 3 under 5 and he is earning more than when he worked full time. Money is still tide but like some of the others said you just have to cut down on things and make it work.