Affording kids?

Krystaltips

But are we going to deny ourselves the pleasures of children because we live in a very popular country?

shiny_happy_people

Squirreler wrote: »

Hi, I'm newly registered but lurk occassionally.

We're thinking of having kids in the next year or so but I can't work out how we could afford it. I wouldn't be able to do my job with a baby so we'd have to live off my husband's salary. I've worked out that we need to cut back £1000 a month from our current state, although I could sell my car and would save a lot on servicing costs (£800 a year) and insurance and petrol which would help a lot. And obviously we couldn't go out any more which would help a bit.
Just wondering what other people do? I don't know if we can do it! :eek:

hi like the others say youll never find the perfect time to have children just have them when you are both ready for them (nappies are cheaper now than when i had my son 11 years ago) dont get caught up in having fancy gadgets swinging seats fancy prams and designer clothes love and cuddles are the most important thing you can get great second hand equipment and clothing and has the benefit of being able to sell on when youve finished with them to allow you to buy other things as baby grows walker highchair etc .when you are expecting your happy event and friends family ask you what youd like for the new arrival ask for vouchers for tesco etc you can use them for whatever you need at the time baby milk , nappies, clothes etc instead of ending up with piles of cuddlies and 1st size clothes like i did lots of luck:rotfl: :rotfl:

AnnieM_3

We're in the same position - I'm hoping to be able to work from home a bit, use reusable nappies and breastfeed. I'm worried how we will manage though, as we never seem to quite qualify for any benefits such as child tax credits when I do the calculations online, and we don't have much disposable income due to currently paying off student debts.

It's the managing on SMP bit that scares me!

It is very frustrating that we worry about how we will afford a child, when some people pop out sprog after sprog with no intention of trying to afford them themselves! Don't get me wrong, I think everyone has the right to have a child if they want, but I think some people take the mickey a bit, producing a horde of children willy nilly who have to be 'paid for' entirely by the state/the taxpayer, which means the rest of us have to pay even more tax and are less able to afford a child of our own! (I'm probably going to get flamed for saying that, aren't I?! )

Squirreler

Thanks for all the replies.

I'm fairly good with money and manage our finances; I've got a list of incomings and outgoings. I know where we can cut back - my car is on a loan which is our only debt. I could sell that for a cheap little one if I wasn't doing 30,000 miles a year.

I'm planning on breastfeeding, providing I can grow a pair of boobs for it! :rotfl:

I hadn't thought about benefits. I've always worked so never claimed anything or looked into it. My husband takes home £1450 a month so that might be too much to get anything. I take home £1950 so it would make more sense for him to give up work but he's not keen! I've heard that maternity pay is £100 a week which would help.

Thanks again for all the ideas - very useful.

ginvzt

Squirreler wrote: »

Thanks for all the replies.

I'm planning on breastfeeding, providing I can grow a pair of boobs for it! :rotfl:

Thanks again for all the ideas - very useful.

You can take mine - believe me, big boobs are no fun at all!!!! :rotfl::o

We get about the same amount monthly as you do, just ours are more like 50% each (lucky us... or not, when it comes to maternity leave...). We know we will have to cut our spending when the little one decides it is time to join us (we are still ttc), but also simple expenses like eating out and my petrol will go down (I have 50+ miles return journey every day). With spending more time at home I hope to be able to organise our meals better, so we can budget on that less and that means less lunches need to be bought in the corner shop near work or at fish & chips as my husband does... It will be simple things, like cinema that will be cut down as well - which you don't usually think when start thinking abut the budget during maternity leave.

The SMP is not big money by any means - it is 90% of your salary for the first 6 weeks and then ~£117 for the next 33 weeks... And it is taxed!:eek:

Krystaltips

Just wanted to point out ladies, that in our case, size really doesn't matter.... AA cups are capable of making as much milk as J cups!

squashy

Check your employee manual at work- some companies offer full pay for 6 months etc! This is over and above SMP which you will get anyway provided you have been there for at least 10months ish when baby is born.

I also BF and use cloth nappies, and I don't have any "baby expenditure" as such to factor into the weekly budget, or I didn't until recently now she is 1 (today!). Just had to fund the big things like the car seat. No cot as we co-sleep.

My husband gave up work when my maternity leave came to an end so he is now at home with baby during the day, she has one beaker of formula at lunchtime and I BF her morning, evening and night. It works well for us! The tax credits do help make ends meet too.

asandwhen

It is hard work but you will be suprised what you can do when you put your mind to it.

The way we worked it out was this - I get paid 1700 and my wife 1400 - so while she was off we needed to make up 1400 per month.

450 - maternity pay
180 - tax credits / child benefit
80 - less petrol
300 - went to interest only on mortgage
300 - stopped putting money into savings account
20 - lowered sky
70 - less going out

= £1400

So it can be done without making major adjustments - wife is now back at work and we manage because I work shifts (as you can tell by the time im writing this) so can look after baby during the day. It is hard work but well well worth it.

Dormouse

Squirreler wrote: »

I'm planning on breastfeeding, providing I can grow a pair of boobs for it! :rotfl:

Krystaltips is right - your ability to breastfeed has nothing to do with the size of your boobs. I've seen women of all sizes breastfeed. :T

(The size of boobs comes from the amount of fat tissue mainly, which has nothing to do with milk production.)