How do you know you can afford a baby?

Eccle_2

mbs1 wrote: »

iirc you dont get taxed on your maternity pay, my partner got £112 p/week in her bank, then child benefit is £18 p/week and for the first year Child tax credits is £21 p/week so a total of £150/week for the first year.

Unfortunately it does definitely now have tax and NI payable on it, which does seem mean when it's so little per week anyway!

Everyone gets child benefit, but child tax credits depends on total income so not everyone will get that.

vixarooni

If i were you i would like to get my house sorted first, pay off most or all of my debts and enjoy being a married couple before i started a family.

There is no reason to rush, you have it all ahead of you, enjoy moving in and marrying your man, have a holiday and then start trying.

on the other hand my streak of live for now would come through! ha, do whatever makes you and your husband happy and go for it!

amandada

Without even taking the finances into account, you have to wait till you're BOTH ready, and it sounds like your dh to be isn't quite there yet.

I'm totally fatalistic about these things, and believe that you just "know" when the time's right.

belfastgirl23

You can probably afford to have a baby but that's not really the issue here, the issue is you and DH having slightly different timescales. On the bright side at least you're both agreed this is something you want to do. I guess it seems to me that you're laying down a pattern for your married life in dealing with this so better make it a good one. Why don't you sit down with DH2B and tell him how you're feeling and see if you can agree a definite date to start trying? I think pushing ahead with this and having an 'accident' would be a terrible thing to do personally...or at least I wouldn't want to start married life with deception.

Gloomy_Past_Bright_Future

There is never a right time to have a baby, but it is always the right baby

x

RoxieW

Remember to factor in childcare costs. We found that with childcare/travel costs we were hardly better off with me working. Also, you will get child benefit and tax credits - you can use the tax credits - do i qualify website and enter fictitious baby details to get an idea on what they would be on your OH's salary.

There's never a right time. When we had our first baby we were both at uni and had an income of £8000 a year. But we rented a tiny house, bought baby things second hand, didn't go out and ate value basics food from kwiksave. Now, 6 years later, with baby number 3 we have an income of 50K - but we also have a bigger house. shop at mamas and papas, have lots of days out/holidays and eat organic. What I'm saying is, you adjust your lifestyle to your earnings. If you can do that to survive on one wage then you've cracked it

Gangstabird

When you go back to work, factor in between £4 - £5 per hour for a childminder or find out how much local nurseries charge. Unless of course you are lucky to have an adoring Granny/Sister etc to do it for very little.

I have 2 in childcare and we don't get any help and I can tell you it's really really tough, no meals out, camping holidays and making ends meet. Thank Gawd my eldest starts school on Thursday, that will help a bit.

They are wonderful though and I wouldn't be without 'em!

In answer to your first question, you can NEVER afford children unless you are the Queen:D

lizziebell*80

We are thinking the same thing really, we'll never have as much money as I would like and will just have to see what happens after maternity leave, but have decided that we are going to start trying for a sprog sooner rather than later. I am nearly 28 and DH is nearly 25 and he feels the same way about it and my plan is to have one before I am 30 so not long to go now :rolleyes:
Got some savings if we need them but like the others have said I think you just manage with whatever you've got.

Bitsy_Beans

Spendless wrote: »

Personally I'd wait till Jan, you're not even 26 yet. It'll give you time to work out how are you financially once you've a place of your own. You can have a bit longer to pay off debts/save some cash for when the baby arrives and it gives you married alone time with your husband, something that is rare when you have kids and I speak as someone who was pregnant within a week of getting married. It's already September, so not that long to wait.

I am with Spendless. Enjoy some time with your new husband. Babies do affect your relationship and since you've just moved into your new home enjoy it before it gets cluttered with baby stuff!!!
Yes people do manage with little money but some don't - I'd try and pay off more of your credit cards as they can be a stone around your neck.
Not to be depressing but just think if you have plenty of savings if there was to be any fertility issues you have some finances that you could use towards treatment if you can't get what you need from NHS and the postcode lottery that it is.

Gangstabird

Bitsy_Beans wrote: »

I am with Spendless. Enjoy some time with your new husband. Babies do affect your relationship and since you've just moved into your new home enjoy it before it gets cluttered with baby stuff!!!
Yes people do manage with little money but some don't - I'd try and pay off more of your credit cards as they can be a stone around your neck.
Not to be depressing but just think if you have plenty of savings if there was to be any fertility issues you have some finances that you could use towards treatment if you can't get what you need from NHS and the postcode lottery that it is.

Wot she said 'an all:beer: