nanny vs nursery costs

[Strawbs]

Hi

Im hoping some experienced mums and dads can break it down for me in simple terms the cost of a nanny either 1:1 or a share situation please.

We always thought we would do a nanny and with baby number 1 on the way we have been doing some research but it seems quite hard to find a figure of what it will cost once you have paid their tax etc etc.. We assumed that the person would be working for themselves so we wouldnt need to pay tax or holiday (that this would just be swept up in the hourly rate) but it seems we do so we are moving away from this option as it sounds a little complicated (hence why Im asking). I got a price from a local nursery which was ?925 pm for 4 days a week.. Does anyone know how the prices for a nanny stack up against this? The nursery we are looking at is the mother goose glendale or also the gumboots one in crystal palace road but am waiting on costs from them..

thanks so much

Jules x

[chantelle]

there are lots of nanny pay calculators if you do a google. I see a 10 hour 4 day week at ?10 net per hour coming to ?574/week once you account for tax. So clearly a lot more than nursery. You also have to account for any extra costs - for activities, petrol, nanny's car insurance, heating your house all day in winter, etc.

A popular option is to share the nanny with another child of the same age. We do this and my per day cost is around ?70. Still not cheap but just a bit more than the pricier nurseries. You can also find cheaper nannies starting out charging more like ?7-8 net per hour - that would bring it down to about ?373 for a four day week.

It's a very personal decision but I felt more comfortable leaving my then-one year old with our wonderful nanny who comes to our house and gives him tons of attention, rather than putting him in nursery which I feel can be somewhat stressful and chaotic for tiny children. i have friends whose little ones apparently thrived in nursery from as early as 6 months though so like I said it's a personal thing.

[Strawbs]

this is a huge help thank you!

[Strawbs]

Hi

Im now hearing there is a 3rd option - a childminder. I assumed a CM and a nanny were exactly the same but is it not? Are they substantially different in cost to a nanny does anyone know? Sorry for all the questions - thanks! x

[Belle]

cm = kids go to their house, and it's not one on one - but there are quotas so won't be millions of kids, there are rules re ratio/ages (e.g. only so many under 2 etc). It's a good option in my opinion as you get potentially more one to one/intimate care than a nursery setting. Of course not having the care in your own home has its pros/cons (works for me as some of the little work I do is from home so good to have him out of the house!). It's significantly cheaper than a nanny and can be cheaper than nursery too, and with more flexibility in some cases. However it's just one person so you need to know you click with them, are happy leaving child with them etc. Word of mouth recommendation prob best.

oh other upside is you are not their employer (unlike nanny) so you don't have the financial/time responsibility of their benefits, sick leave etc.

[chantelle]

yes childminder can be a good cost effective option but good luck finding one you like, that is convenient, and has a slot for you! we used one briefly before moving to ED from Kennington. I liked her a lot but there were some issues around extra children seeming to turn up all the time, though I'm sure most people don't breach the rules. Must have been to see/talked to about 15 before finding her. And then when we moved to ED it seemed mission impossible to find anyone. Obviously it does happen though!

CM cost can be anything from ?35-70/day. Some charge per hour. and i think you usually still pay during your own holidays, though not always during theirs. (as opposed to nanny you pay 52 weeks/year).

[Strawbs]

thank you so much! What a minefield!! Again cheers.. J x

[crystal7]

Yes good childminders are like gold dust! I've had 2 amazing ones, found on this forum. It was difficult to find someone to work on Fridays I seem to remeber and I work Weds-Fri. We pay ?50 (8-6 although I collect at 5) per day which I think is average (?). I think it's a really good option as during the day there will probably be only 1 or 2 other children there so it's like a little family, more after school usually. I suppose one of the downsides would be if CM is ill you need to take a day off work unless you've got some sort of back up but I can honestly say that has never happened to us. It's finding the right person in the right location that's tricky. Good luck!

[minder]

Strawbs - it's Greendale as in Postman Pat (not Glendale) - sorry grew up in the area so just had to correct!