We look at a whole range of costs involved in returning to work, and help you decide if it's a good idea.

Is it worth it? That's the question on the lips of thousands of women every year facing the difficult decision of whether returning to work after a baby, with all its inherent financial implications, is going to be worth dragging yourself out of bed at 6 every morning and kissing the baby goodbye.

For some women returning to work after a baby may be wholly based on a need to have the stimulation of a work environment again. For the rest of us though, the decision is either partly or wholly based on whether it's financially worthwhile. So what are the costs you incur by returning to work?

1. Childcare

"Women, more than men, lack the confidence to ask for what they want, but if you don't ask, you won't get!"

Employing a nanny, child-minder, au-pair or other home help is expensive. While au-pairs may seem a cheaper alternative to a nanny, they may be less suitable if you have very young children (see our feature on this subject). With live-in help you'll have to take into account additional food bills, possibly car expenses and telephone bills. And don't forget you'll need to pay a nanny's tax and National Insurance (see our archived feature on this subject, under Tax and Law), as well as paying her holiday and sick pay. You may also need to employ a cleaner if you're working full-time.

2. Finding a job
If you're going back to your old job you're unlikely to incur extra expenses, but you may want to consider re-negotiating some of the terms of your employment such as hours, which may impact on your salary. If you've been on maternity leave check with your employer the job you're returning to is the same as the one you left, and that there hasn't been re-structuring or changes in hours as these could also impact on salary and other benefits like the company car.

If you're looking for a new position you'll almost certainly incur costs through writing to prospective employers and going for interviews. And once you've landed the job, don't forget to take into account the cost of travelling to and from your new place of work, as well as the time it will take.

3. Company benefits
Once you've found a position, be forthright about negotiating the terms of your employment. Women, more than men, lack the confidence to ask for what they want, but if you don't ask, you won't get! If you want to work flexible hours or part-time, or would prefer more holidays to a company car, ask for it - many employers are prepared to be flexible.

If you're returning to work part-time, you should take up membership of your company pension scheme, particularly if it's a final salary one. Companies are no longer allowed to exclude part-time workers - they must offer membership to everyone on equal terms.

Most company pension schemes also provide useful life cover. Even if you have to contribute to the pension yourself, it's generally better to join it as it will be more expensive to replace the benefit yourself with a private pension.

If your employer doesn't provide a pension scheme, then you'll need to consider setting up a personal pension plan, although new Government legislation means that any company employing five or more people without a company scheme is now obliged to offer their employees a stakeholder pension (look out for our feature on this subject in the next issue).

Going it alone

Many women decide to become self-employed because going out to work is uneconomic. If you're thinking of going down this route you need to think very carefully about the financial implications though it can fit in very well with your family life. These include:
• Do you have enough savings for times when work is lean or people slow to pay you?
• Have you got a personal pension?
• Have you taken into account not being paid for being on holidays or time off sick?
• Will you need income protection insurance?

Looking to the future

Once children are on the scene, a general review of your financial planning is a good idea so you'll sleep well at night knowing you've got all bases covered.

• Protection: You'll need to ensure that you have provisions for unexpected hazards, such as if you or your partner fell ill, or died prematurely. This means checking you at least have sufficient life cover and income replacement protection (some of which may be provided by your employer). Even if you're at home with the children and not bringing in an income, consider the sizeable cost involved in replacing your services, so both you and your partner will need cover.

• Wills: Have you both drawn them up? Apart from indicating who you want your assets to go to, it gives you the opportunity to stipulate who you'd want to bring up your children if both you and their father died. While you hope this will never happen it's better to plan for the unthinkable.