The rising costs of childcare has been a hot topic amongst Australians. While it provides parents with the opportunity to return to work, it can also take a toll on your finances.
You may find yourself paying for:
Australian families who send their children to childcare pay between 30 and 40 per cent of their household income, which on average is more than $10 an hour.
Further to this, ABC News produced a report based on how much money working mums lose through childcare costs. The report was based on a study conducted by the Australian National University which found that mothers in full-time jobs may be working for as little as $5 an hour after tax and childcare costs.
Women who worked a lower income were the hardest hit. Even with a full-time salary, a number of women are earning approximately minus (-) $12/hour by Friday.
The graph listed below shows how your income decreases over the duration of a week when working full time. The figures are after the deduction of tax and childcare fees.
Some parents who need to be working full time have opted to work from home 1-2 days a week so they may alleviate some of the costs associated with working. In many cases, these parents are also required to work weekends and nights to make up for lost time.
With the rising costs of childcare, many women are finding that they need to choose between pursuing a career or raising a family. It is a harsh reality when you simply cannot afford to place your kids in childcare so you can go to work.
How can I start a career working from home?
The option of working from home provides you with the flexibility of looking after your children, while still earning an income. Therefore, minimising your childcare costs. Creating a schedule and allocating time for your family, helps with your work time being more productive when working from home.
A career as a Medical Transcriptionist not only allows you to pursue a career working from home, but it provides you with increased flexibility. If you are interested in working from home as a Medical Transcriptionist, TalentMed’s Diploma of Healthcare Documentation provides you with the essential skills and knowledge needed to get a job and excel in this increasingly popular field.
If you would like more information, you can register for a free consultation with one of our Career Advisers below!