My wife and I both work full time and pay £110 weekly. Were this to reduce dramatically, which I guess it will in a few years when school starts, is the money paid into the trust deed?
Every end has a start !!
Hi Timelord,
Child care costs can be a lot nowadays. A member of my team pays roughly the same as you per week and he is counting down the day till his son goes to school in August.
Every six months a review should be completed and if you have more surplus cash available then your contributions may be increased. Your child care costs may reduce but you will then have school meals and extra associated costs with attending school i.e. School clothes, shoes, pictures, trips etc.
It should be a fair balance if there were to be any surplus cash and an increase in your contributions.
I would suspect though that if you are no longer paying the childminder fees of £440 per month there will be an increase in your contributions but as I said, to establish this a full review of your income and expenditure should be completed.
Chris is not currently posting in the Trust-Deed.co.uk forum.
Hi Timelord
I have seen some incredible childcare figures in my time.
It would be unusual for any increase to be the equivalent of the previous child care costs as there are other associated childrens costs with them going to school etc.
Normally matter will be reviewed to take account of the income, but also the additional expenditure.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Ahhh Timelord, if only it were so simple that they go to school and then your outgoings drop dramatically! I'm afraid that in my experience, as Mark says, the childcare costs are merely swapped for something else.
Unfortunately, schools find ways of relieving you of just as much, it seems. Uniforms, School trips, Book Club, School dinners, British Heart Foundation fundraiser,Personalised Christmas cards with each of your child's design, packs of 24 (Wonderful but not available at ASDA Price) [8D]Dress down days..............