Saving money prior to TTC a baby

mrs_moo-cow

Hi - I'm new to the forum (as you can probably tell from my meagre post count )

My husband and I have 2 lovely children, and currently live in a rented house (cheap as he's in the forces) we are looking to buy once we have a bit more deposit saved and when the banks will be more obliged to give us a mortgage :rotfl:

Anyway - getting to the point (eventually) we are hoping to have our 3rd and final baby in 2010, and are going to (hopefully) TTC starting in Sep09 - obviously we have a fair bit of baby stuff and won't need to buy too much but my husband (and me but to a lesser extent) is very worried about how we are going to afford another baby and still be able to get a house.

It's causing quiet a bit of stress really, yet we both want a 3rd baby, and don't want to leave it too long as we want a bit of independance back in 5 years time :rolleyes:

Any one else in a similar position? And does anyone have a magic solution... winning lottery ticket perhaps??!! :rotfl: :rotfl:

nicoop

Hi there, I know what your going through. We do have our own house (as OH is in forces but wanted us to have our own home)however OH is saying we can TTC after we have had our windows double glazed. This is so boring! Still I can see it makes sense. We are just saving all we can and I have hunted down bargains for xmas presents. I am also hoping to have a baby at the very beginning of 2010(in an ideal world)
If you find any get rich quick schemes count me in!

shirlgirl2004

Hi Mrs Moo-cow

Do I take it from your name that you breastfed your children for a long time? :rotfl: Seriously if you do and use cloth nappies then the extra cost will be minimal whilst the new baby is young. I really think children are only as expensive as you want them to be when they're young unless of course you're talking about losing your salary whilst on maternity leave etc.

mrs_moo-cow

Spot on
Well my daughter was breast fed until 5 1/2 months and I only stopped due to supply issues, which in turn were down to latching issues (how I lasted that long I'll never know!) from me not asking for help/help not being offered.
My son is 7 1/2 months and still going strong.

We use cloth nappies and cloth wipes, so that helps - it's just the bigger things later on that become a worry but then I suppose if we all thought about it too much no one would have children.

I'm sure I remember reading somewhere that it takes something ridiculous like £100,000 to raise a child :eek:

Spendless

Depends on what you're taking into account with £100,000, if you take loss of income into account then it wll be high.

I saw a post a survery once that though I didn't agree with the amounts I'd did their categories with where most expenditure went. It went something like
0-1- equipment
1-5 -childcare
5-11-childcare and activities ???(I think)
11-18- clothes and food.

are you wanting a 4 bed house with a 3rd child, is this what your husband is worried about?

shirlgirl2004

mrs_moo-cow wrote: »

Spot on
Well my daughter was breast fed until 5 1/2 months and I only stopped due to supply issues, which in turn were down to latching issues (how I lasted that long I'll never know!) from me not asking for help/help not being offered.
My son is 7 1/2 months and still going strong.

Think I should change my name to something like Spaniel Ears then :rotfl:

Well it doesn't sound as though you're going to spend on much then. you'll have all the big expensive stuff anyway. Sounds like you're an expert MSE so know how and when to save if you need to :T

themaccas

Hi we are a family of 5, OH is also in the forces and we live in our own house. I will say that with DS1 and DD we did not really notice the extra expense too much and then DS2 came along. Wow do we notice the extra expense!! I don't know why that should be but.. holidays - we need to book 2 hotel rooms, we need a car with 5 seats, school shoes - 3 pairs all at once! I could go on....

However wouldn't change it for anything, it's a totally different family dynamic with 3 children and so worth it!

mrs_moo-cow

Spendless wrote: »

Depends on what you're taking into account with £100,000, if you take loss of income into account then it wll be high.

I saw a post a survery once that though I didn't agree with the amounts I'd did their categories with where most expenditure went. It went something like
0-1- equipment
1-5 -childcare
5-11-childcare and activities ???(I think)
11-18- clothes and food.

are you wanting a 4 bed house with a 3rd child, is this what your husband is worried about?

No I think we would have to stick with a 3 bed (If we an afford it that is - in the current climate we'll be lucky to get a one bed!!)



Thanks to everyone for the replies