How to divide up the money...?

[mum2two]

Currently me & Dh work together as cm, but he has been offered a job.

It either means getting rid of a couple of my current mindees, or take on an assistant.

I have spoke with my uncles gf, and asked her if she would be interested in doing it with me, and she has said yes.

It would be a great USP, as she is from France, only moved over last July, so obviously speaks French (and spanish) fluently too. she is 100% fluent in English though, having previously studied at Oxford for a year!!!

She used to look after kids in France, before she moved over, and is expecting a baby in the summer, but at the same time needs to find a job & earn money!

Anyway...as it stands I could just keep two mindees, which are my full timers, and only just 2, so a good income for a couple of years yet, get a variation for one that's part time & starts school in Sept, and get rid of 2...

Or keep them all, and take on assistant. I have an enquiry for a 4 day a weeker & an afterschooler, for Sept too, (as I have 2 due to go to school in Sept).

But, how do I split the money...? At the moment, what we get paid, either chq, just goes in our joint account, or cash, just goes in DH wallet, (as I hate taking stuff out!!!)

As we would be working out of my house, my expenses would be higher, and all the food would be coming out of my normal weekly shop...

I need to know how I would split it, to know if it would be worthwhile doing it or not...

Any ideas

(I'm sorry that I don't come on as much anymore, and when I do it tends to be asking advice rather than contributing more... )

xx

[Trouble]

Sorry not sure but well done to your hubby

[westbrom44]

I assumed that if we have an assistant then we pay them an hourly rate.

[miss mopple]

Oooh tough one. Not sure what Id do in those circumstances tbh and know nothing about employing assistants.

Wouldnt J miss minding? He's so well suited to it it seems a shame to think of him giving up.

Youve got to do whats right for you at the end of the day though.

Hope it all works out whatever you decide

xx

[mum2two]

I assumed that if we have an assistant then we pay them an hourly rate.

Oh, don't think so... Well, when DH started with me he was just my assistant & got nothing!!! Actually, saying that, he still get's nothing...

Oh, I need some advice to work out what's best for us & what will work. He has to give an answer tomorrow whether he wants the job or not...

Miss Mopple, he will miss it, he has said, especially some of the children, but the job is shifts - 3 on, 3 off, so he will still have days around the children. We've said we'd keep his reg paid for another year too, just in case he missed it that much!!!

xx

[FizzysFriends]

I would pay her an hourly wage.

[TheBTeam]

Same here think best to pay her a set amount per hour!

[mum2two]

Wouldn't it have to be min wage? (What is that currently - anyone know?)

Also, would I have to pay extra, being an employer? Where would i find all that info out?

Thanks

xx

[TheBTeam]

Minimum wage for over 22 is £5.80, and they could still register as self employed so you would not need to be an employer.

[FizzysFriends]

Wouldn't it have to be min wage? (What is that currently - anyone know?)

Also, would I have to pay extra, being an employer? Where would i find all that info out?

Thanks

xx

Yes you do have to pay extra, employers NICS are at a higher rate than employees too!

[Heaven Scent]

yes get her to reg as self employed and invoice you then you will both be in a better situation financially.

[mum2two]

Working it out, I'm not sure it's worth it...

I have my baby girl, so on my own could still keep my 2 full timers.

She's expecting a baby in the summer, so come Sept, we've got 2 of our 6 spaces gone, with no income. I have 2 filled with my f/t two. I have one p/t I'd keep, (about £60 a week), and enquiry for a 4 day a weeker. (Be roughly £110 p/w). That's us full, apart from odd days we may or may not fill...

So, to take her on, I could roughly earn an extra £170 a week, and have her do 3 days, (hubby could do the other 2). I'd have to pay her £160 a week on min wage, then have employers cont etc...

So I'd have more kids in the house, she doesn't drive, so going out hols etc is a prob, and I'd have more kids to plan, observe, record etc...

For the sake of an extra few £££ a week, I don't think it'll work... I feel bad for asking her now though, and mentioning it...

xx

[FizzysFriends]

but does it give you room for expansion though? Could you fill up with after schoolers? Or apply for extra spaces?

[mum2two]

I would be full...

If we were to do it we would have in the house (during hols)

My DD - 8
Assistants DD - 8
My DS - 4
My baby
Assistants baby

Then;
2 yr old - f/t
2 yr old - f/t
2 yr old - 3 days
2 yr old - 4 days
5 yr old - 4 days
5 yr old - 4 days
5 yr old - 3 days
7 yr old - f/t
8 yr od - 4 days

So all that extra work, and my house trashed with up to 14 kids. After working it out, not really for anything extra, once I'd have paid employers cont. Even if I didn't have to pay them, it would be about £10 a week... I suppose i would get the extra in the hols for the after schoolers I'd have during the day.

but not sure that makes having the whole year harder...

xx