Childcare Costs Gone Up? Use Childcare Leverage To Help Out
Childcare benefits are no longer what they were
Childcare benefits are no longer keeping up with what childcare actually costs. This is even looking around for the cheapest in your local area. The childcare costs are going up along with everything else. The only things that are not going up are salaries. Many have not received increases of any kind and are unlikely to for a few years. So in effect they are taking a pay cut every year that passes. Jobs are no longer around as in the past with much higher salaries. This is a thing of the past. Others are taking pay cuts or working less hours because of their employer.
So the outcome is the difference between the childcare costs and the childcare benefits received has to be made up. This is putting a heavy burden on how to make ends meet. Family finances are being stretched to the limit. And some of the options that were never considered in the past are now being looked at. This is how serious the problem is now for some and about to become for many more in the future over the coming years.
Some are no longer eligible to receive Childcare Benefits
And to make it worse some families in the UK are no longer eligible to receive childcare benefits. This is because of how much they earn. Some of going are to be hit very hard. This is just because the sole family income earner generates income just over the childcare cut off point. And yet if the family has two salaries they can still receive the full childcare benefits if they still earn less than the cut off point for a two salaried family.
So the outcome is some families will be facing life without the full childcare benefits. This will put even more pressure on the family. The other parent usually the mother will now have to consider how best to make up this family income shortfall.
Use childcare leverage to now get the best of both worlds
Many consider that the only option is to take up part time jobs locally to make up any shortfalls in the family income. Yes, for some it is a solution. But the problem is these are often low paid jobs and many of them still incur some travelling costs. These are often menial jobs. You would not be valued especially if you have been use to working very much on your own. That is set you own tasks and daily schedules etc. So the chances are you would not enjoy doing these types of jobs.
What you want is to do something that interests you and above all you have complete control over. The trouble with any normal job, you are only paid for doing what you do once. That is for every hour you work you are only paid a set hourly agreed rate. These is even when some people are allowed to work some of their agreed hours at home. This is what is called linear income. This is what people in the know and those that make serious money try to avoid. And to make it worse there is only so much you can earn. The reason being it is based on the number of hours you put in. You can only do so many hours in any particular week.
Yes, there an alternative. Many are not aware of this. It is what is called residual income. That is you only do something once yet you are paid again and again for it. So now there is no limit on how much you can earn from having done something once. You can do the same again and again. And each time you can earn even more. Ideally you are looking to do something like this around your kids at hours to suit you. That is look after the kids and when you have any free time, you can do something once that will set up additional passive incomes for you and your family. What you don't want is to set up a traditional business as you will simply be tied to it. There is no escaping with a traditional business. You are now working for your business full time and how can you look after your kids at the same time? Any way who wants the risks associated with a traditional business. That is why the way forward is childcare leverage, using passive incomes. That is doing something around you and family at times to suit you. You can stop doing it at any time you want, to look after the kids. This can also be done from anywhere even on long holiday breaks of a month at a time.
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