Earnings

[Rosie_M]

Hi everybody,

I'm new to the site and am about to start the childminding course next week ran by my LA.

I have a query, which I hope doesn't come across as rude. When I went on the advisory day the lady said that "you wouldn't become rich being a CM". Now, that's fine with me but I just wanted reassurance really that this job can provide a viable income - I'm not looking for exec wages or anything ;-) however I do need to earn a reasonable wage! I realise that it all depends on many things such as actually getting children to mind etc! I'm not asking what you earn either, just needing reassurance! Think that with the course starting next week I feel a little ridiculously nervous!!

Hope that makes sense?!
Many thanks
Rosie

[Pixie dust]

hello,
Like you have said it really depends on how many children you take on. Do you know if there is a demand for childminders in your area? When I first started it took 3 months to get my first mindee and that was part time. I am lucky at the moment as I am busy and not taking on anymore children but in this job changes happen very quickly for example I lost income from all 3 families due to all 3 having babies within 6 weeks of each other. There are a lot of people writing on here that they are struggling to get work and others that are full. Like I said you really need to find out what the demand is in your area.
Good luck with your courses.

[Chatterbox Childcare]

You can earn a decent wage but this profession is so unpredictable, lots of children and then a few so be prepared.

Also what is a decent wage?

e.g. do you have children at home of your own that you do not need to pay out for? no make up or office clothes (not that we should be scruffy)

I think it all depends on what you are after.

Also, take into account expenses. You can claim such a lot of "normal household" costs such as gas, electricity, etc and all these things reduce your profit on paper but not in reality as you would be paying them anyway

Sounds muddled but I hope it helps

[The Juggler]

when i left work I was paying so much for childcare and in tax for childcare vouchers that I received as an added benefit that to break even, I didn't really need to earn that much.

As time went on I've taken on more children and earned a really decent living. At least equivalent to what I was earning full time at work (with all the tax breaks taken into consideration).


I did have one period June-September where I only had 2 p-time children and that was tough but we managed. Work is pretty busy here though.

As others have said, it all depends on what you consider a 'decent' wage.

[phoenix2010]

over the years my income has varied from £600 to £2600 per month

It depends how full you are , what hours you are prepared to work

It also depends on luck , I have twice had 2 parents give notice on the same day immediately halving my income , then again i have taken n 4 children in the same week before doubling it

My advice is be very proactive to build your business up , it takes real effort

and when times are good , dont take it for granted and if you can put some aside for when things take a dip

sorry I couldnt be more specific but its the nature of self employment

[blue bear]

A lot depends on what business there is in your area and what you are prepared to do. So if you only want two babies 9-3 term time only to fit in with your school children then obviously your income will be limited, but if you are willing to do babies plus after school children, shift workers, evenings and weekends then your earning potential increases,
For definite you won't earn an hourly rate anything like you do in a regular job because of all the extra you will need to put into your business like buying resource, paperwork, shopping, cleaning, planning and preparation...... The list goes on, but it's a very rewarding profession and like with anything the more effort you make the more you get out of it.

[Rosie_M]

Thanks folks for your responses.

I have 2 children of my own, a 6 yr old and a 10 yr old in answer to a question, so yes I would need to pay for them to go into childcare if I went back to work and as I worked out it just wouldn't be worth my while doing that.

A decent wage...hmmmm... I haven't worked a normal job since before the kids were born (teaching) so I think I would like to earn £800 upwards a month - is that unrealistic??

I obviously need to think about what hours I would like to work/offer to parents, never one the whole fees issue - hourly rate vs sessional rate!

Yikes, I think that my head is just spinning reading all the info on this fab site!!

Thanks again
Rosie :-)

[JCrakers]

It really depends on how many children you are wanting to and willing to take on. If you have your own children and how many hours you are wanting to work. Some minders take on a couple of children where as if the business is out there then you can take on a few more. I'm in a position where my two own children are 11 and 14 so they don't come into my numbers but my dd did 5.5yrs ago.

I charge £3.50 and in the past I've been struggling with just 1 under 5 and a couple of school children so my weekly wage was about £170ish and that was for about 1.5yrs, so it wasn't really paying the mortgage. Business was very slow and I was wondering if it was worth it at all.
Now I'm full to bursting with 16 children, working 50hrs a week I'm bringing in a good wage. So it is up and down, things change very quickly, children can come and go very easily with parents changing hours, days or moving away.

I don't think anyone goes into childminding for the money because its just not easy. you can earn a good wage but have to work full time and have spaces filled.

[Rolacolapink]

Hi I was told the same thing about CM'ing not making you rich at the initial information session! I never thought it would but also needed to ensure I could cover my then current outgoings.

I set up a basic spreadsheet to log any potential work so I could guesstimate how much I might earn per month.It was a fab tool to use to figure out where I was at financially. I had a column for 'confirmed spaces' a column for 'provisional spaces' and one for 'potential spaces' and entered the appropriate figures by month. It did help knowing I had children lined up (from telling anyone and everyone I was starting CM'ing!).

This spreadsheet eventually morphed into a planner that I use to book children in and keep a record of how much I'm earning and is updated daily.

:)

[bunyip]

You can earn a decent wage but this profession is so unpredictable, lots of children and then a few so be prepared.

Also what is a decent wage?

e.g. do you have children at home of your own that you do not need to pay out for? no make up or office clothes (not that we should be scruffy)

I think it all depends on what you are after.

Also, take into account expenses. You can claim such a lot of "normal household" costs such as gas, electricity, etc and all these things reduce your profit on paper but not in reality as you would be paying them anyway

Sounds muddled but I hope it helps

Oh no. Are you saying I'm not allowed to wear make up? :eek: Gosh, this is worse than school. I only do the job to keep myself in cosmetics and handbags. :rolleyes:

[zippy]

I earn about 550 a week (thats on a £3.60 per hour charge) before expenses not that i have many of them to be honest, my own kids are in full time school though, when they were little I probably earnt about 150 a week but that's because I didn't want much work then. I could earn more now if I wanted but I like not working much after school so I have time with mine. My kids come at 8 are gone by 3:45 except one lo I have till 5, it's taken a long time to get my reputation though so I can pick and choose my contracts, and even though its cushy now it can change in a heartbeat.

[mrs robbie williams]

550 a week wow how many do u have each day? Ur hours are great too xx

[The Juggler]

you could easily earn £800/month with 2 full time EY children (dependent on your area and rates). I think you will be fine :thumbsup:

[Houlgated]

I'm really struggling at the moment :-( most cm locally have vacancies and I'm going to lose my only ey mindee in the summer and nothing new on the horizon, which will leave me with one school kid 3 mornings p/w.

[scottishlass]

Thanks folks for your responses.

I have 2 children of my own, a 6 yr old and a 10 yr old in answer to a question, so yes I would need to pay for them to go into childcare if I went back to work and as I worked out it just wouldn't be worth my while doing that.

A decent wage...hmmmm... I haven't worked a normal job since before the kids were born (teaching) so I think I would like to earn £800 upwards a month - is that unrealistic??

I obviously need to think about what hours I would like to work/offer to parents, never one the whole fees issue - hourly rate vs sessional rate!

Yikes, I think that my head is just spinning reading all the info on this fab site!!

Thanks again
Rosie :-)

Hi Rosie

My children are 6 and 10 too!! I just registered in October and like you was very worried but has been a great move for me. I am not full but not taken on anymore as full enough for me! I have a 1 year old full time, 1 year old for 1 12 hour day a week plus 5 year old sibling for same long day (part from when in school). I also have a 3 year old for 30 hours a week term time only. So in term time I earn around £500 per week and in the holidays am around £300 per week.

I have never earned money like this before even when I was full time before my kids and in my last job earned about £500 per month so has really changed my life. By no means rich but can now cover bills and mortgage! I absolutely get that things can change so quickly in this job though and this is something that is scary !! Xx

[suziealderton]

Hi everybody,

I'm new to the site and am about to start the childminding course next week ran by my LA.

I have a query, which I hope doesn't come across as rude. When I went on the advisory day the lady said that "you wouldn't become rich being a CM". Now, that's fine with me but I just wanted reassurance really that this job can provide a viable income - I'm not looking for exec wages or anything ;-) however I do need to earn a reasonable wage! I realise that it all depends on many things such as actually getting children to mind etc! I'm not asking what you earn either, just needing reassurance! Think that with the course starting next week I feel a little ridiculously nervous!!

Hope that makes sense?!
Many thanks
Rosie

hi rosie, i had my pre reg last friday and now have 2 little ones for 34 hrs a week each. im v happy with this for now as my lo's are 3 and 4 so im earning ok money and not having to pay out for childcare. speak to other childminders in your area-where i am we pass enquries for spaces on, im sure you will get an idea about demand this way x

[welshgirl]

As others have said it depends on your area and demand. Where I am things are very quiet. I currently have 2 ey children term time only, but they are all leaving at the end of July. I have had a space to fill for over a year, there is no one in my area looking for a childminder at the moment, to be honest in 8 years I have never known it so quiet, every cm I know has spaces they need to fill, I'm looking for an alternative job, incase the phone does not ring! My advice would be to research demand and speak to other childminders in your area.