No Money Mummy to Millionaire Mummy!!

my2boys_2

Hi, congrats on your imminent arrival... just wanted to add my tips as a mum of a christmas day baby! My four year old was born on christmas day and we've wasted a lot of money over the past few years by getting carried away. Its always tempting to spend as much money on both occasions as you normally would, but then you'll end up with empty pockets and far more toys and presents than your child will ever use. We've even had tears on christmas day when he didn't want to open any more gifts!! So to avoid this I now co-ordinate with family and friends and we have a theme for each occasion... ie last year it was a kitchen for birthday and a train set for christmas... then we give people the option of buying a small add-on for the main theme gift or giving money/vouchers to be spent throughout the year as he sees things he'd like - this particularly helps with things like outdoor toys and bikes etc which don't get used in winter. It also helps to ensure that we don't end up with hundreds of toys that never get looked at! The other alternative is to ask for clothes etc... which is a far more useful gift. There's really no need to double up the gifts just because its two celebrations... I just insist that there are separate gifts wrapped for each occasion even if one is just a part of the other lol... You'd be surprised at how many people miss the fact that its his birthday. We also set aside a room where there are no christmas decorations to have a birthday tea party, but that's usually on christmas eve or boxing day - otherwise christmas day becomes too tiring for youngsters.

In short, try to plan for the long term - bear in mind that many kids get gifts at 2 points during the year, so with babies for example, if everyone buys you newborn stuff, you'll have nothing for when baby is getting older and ready to get up and about... so if you have people that don't like to give money/vouchers as gifts, ask them to buy something that can be put away for later.

As for baby essentials... I too learned late on with my 1st that Tesco nappies are fantastic... but use them now with my 4mth old. Watch out too for Asda's baby events... I've regularly saved a lot of money buying in bulk during these - especially on wipes.. I prefer Pampers sensitive wipes, so always buy in bulk where I see them cheap and Asda had them at 6 packs for £5! I also breastfeed (although I don't see it as a total moneysaving exercise as breast pads and nursing bras aren't always cheap!) and always make my own baby food. See if you have a Surestart centre you can join as they tend to throw weaning parties that you can attend for advice on weaning your baby and making your own food and often provide freebies that help, I got an icecube tray, flannel, bowl and spoon along with lots of free recipe books - don't spend a fortune on all the gimmicky baby recipe books out there! There's also lots of free info online! I also saved some money by buying smaller blankets to begin with (as you say sleeping bags not always suitable for small babies) and moses/pram blankets are far cheaper and easier to use than cot ones. And I wholeheartedly agree with OP who said not to get carried away with baby clothes... yes they look adorable on the hangers, but they don't last two minutes (particularly on my 4mth old who is now in 6-9mths clothes!) watch out for online sales at places like Mothercare, Next and Adams, keep an eye open for Tesco's 20% clothing events and just buy a few key items that mix and match. Tesco are excellent for cheap but good quality vests and sleepsuits, as are Asda. They also wash exceptionally well.

One last thing (as it occurs to me now that this is quite a long post :rotfl:) its very easy for us on our second and third etc to say "you don't need this... you don't need that..." but every baby is different, as is every mother. I've learned a lot between my 1st and 2nd that make it easier for me to walk away from impulse purchases... but babies are special and I still end up buying the odd treat I don't need because I can't resist spoiling my little boys. To stop this being a problem I have a little fund to cover such "emergencies" Saving £2 coins, or the change from my pockets into a special tin is my best way...

Enjoy your new baby (but don't plan on enjoying your christmas lunch if its like mine was - ie made by an NHS kitchen :rotfl: I was in hospital from 7am christmas morning!) and have a wonderful christmas x

duchy

Just another good luck post. Don't worry about the labour-everyone is different -I got told loads of horror stories as my cherub was breech but in all honesty it was all pretty easy when the time came-Much to my amazement

Don't forget Freecycle there's always scads of babystuff !!!
I took a lot of my gifts back & exchanged newborn size for 3-6 months which was a godsend as they grow so fast

Pips_Mum

Thanks for your tips wish, my2boys and duchy.:T

I dont "feel" like the baby will come before Christmas now (famous last words?) but my2boys they are great ideas about what to do if they do arrive on Christmas day. Me and OH had already discussed not getting them Birthday and Christmas presents but treat them to something in the summer months. Especially while they are younger they will not notice that mummy and daddy didnt get them a gift.

I am worried now about being in hospital on New Years Eve as Midwife has booked me in for a sweep on 29th. I think it must be pretty rubbish to be in the hospital on New Years eve

I went to town today, had a look all round for sleeping bags and couldnt find any for little babys all were for 6 months plus. Will try and get to Mothercare at some point to see if they have any. Not the cheapest shop I know but I have a card for them and I get double points until sometime in Jan so as long as I set aside the amount to pay it straight off I should be OK.

OH boss came into work today and gave him a crate of toys 0-6 months for FREE!! We are very lucky as he has given us so many bits and pieces.:j

Havent done much MSE today except my free scratchcards. Had to top up my PAYG phone to make sure I had credit and lots of free texts to tell everyone when the baby does arrive. But other than that didnt spend anything in town.

Pips_Mum

[FONT=&quot]We[/FONT][FONT=&quot]ll here is my first bash at a SOA[/FONT][FONT=&quot].
Havent included assets that I have.
Its gone a bit scew wiff but you can see the general gist of it.
Some things were more expensive than others this month for example Christmas. Going to sit down now and roughly work out my January one to include my live on £4000 challenge.

[/FONT][FONT=&quot]
Statement of Affairs and Personal Balance Sheet[/FONT]

[FONT=&quot]DECEMBER 2008[/FONT][FONT=&quot]
Monthly Income Details[/FONT][FONT=&quot]
Monthly income after tax................ 1163.97
Partners monthly income after tax....... 0 Have got a partner but we keep it seperate
Benefits................................ 0[/FONT][FONT=&quot] This may go up next month as might get child benefit[/FONT]
[FONT=&quot] Other income............................ 500.00
Total monthly income.................... 1663.97
Monthly Expense Details
Mortgage................................ 226.66
Secured loan repayments................. 0
Rent.................................... 194.38
Management charge (leasehold property).. 0
Council tax............................. 78.00
Electricity............................. 65.00 This will go down next month
Gas..................................... 65.00 [/FONT][FONT=&quot]This will go down next month[/FONT]
[FONT=&quot] Oil..................................... 0
Water rates............................. 42.00
Telephone (land line)................... 13.00
Mobile phone............................ 40.00
TV Licence.............................. 0
Satellite/Cable TV...................... 27.00
Internet Services....................... 0
Groceries etc. ......................... 70.00
Clothing................................ 0
Petrol/diesel........................... 10.00
Road tax................................ 0 [/FONT][FONT=&quot]This will go up next month[/FONT]
[FONT=&quot] Car Insurance........................... 30.00
Car maintenance (including MOT).........90.00 [/FONT][FONT=&quot]This may go down next month[/FONT]
[FONT=&quot] Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 18.75
Contents insurance...................... 0
Life assurance ......................... 25.00
Other insurance......................... 0
Presents (birthday, christmas etc)......150.00
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1144.79
[/FONT]



[FONT=&quot]Secured Debts[/FONT][FONT=&quot]
Description....................Debt......Monthly.. .APR
Mortgage..............................................
Total secured debts....................................
Unsecured Debts
Description....................Debt......Monthly[/FONT][FONT=&quot]Min Payments[/FONT][FONT=&quot].. .APR
Tesco cc....................... 260.00.... 20.00..... 16.8
MBNA cc................... 6970.00.... 90.00..... 30.0 WOW!!
A+L cc ....................... 290.00 ... 25.00.... 25.0
NEXT ......................... 190.00.... 20.00..........
EGG....................... 7240.44... 226.17....... 9.7
Mothercare cc................700.00.... 30.00...... 21.6
Total unsecured debts... 15650.44... 411.17

Monthly Budget Summary
Total monthly income.................... 1663.97
Expenses (including secured debts)...... 1144.79
Available for debt repayments........... 519.18
Monthly UNsecured debt repayments....... 411.17 [/FONT]
[FONT=&quot]Surplus(deficit if negative)............ +108.01[/FONT][FONT=&quot] Havent ended up with this as I made extra payments on my CCs and was unsure how to include it?

On paper looks more healthy than it feels in reality. Hoping live on £4000 challenge will help me control where the surplus is going, and I MUST start a spending diary.
Hoping to soon be able to include some forward planning for things like next years tax and MOT.

[/FONT]

smarties84

Hi pipsmum, only just seen your diary. Not read it all yet but just wanted to say hi. Will read it later xxx

mummy2mygirls

See we have both been busy with our soas today! i thinks its good for me to know what is to go where! hope yours helps you see where everything is going!!
Hope you can sort out things for next mth aswell...

great that you ended up making over payments every little helps, bet your going to tackle that 30% one first!!! thats mad they can charge sooooo much

anyway hope your ok and baby is ok
x

Pips_Mum

Yep I could not believe when I realised!!
I know it doesnt really make snowball sense BUT I might pay off the littler ones first and then once they are gone add their monthly payment to the MBNA one eg pay off Next and then add the £20 I would be paying them to the £90 I am paying MBNA to actually pay off £110.

I did pluck up the courage to do mine after I saw you did yours, kind of made me curious what mine would look like!!

mummy2mygirls

Yeah i would do that then! if it will help keep you motivated then i say do it that way!! i should really find out if i can make over payments on my car loan as its the highest apr but it would help keep me motivated to pay of the ccs first as i will be able to see them going down...which will hopefully keep me going!!!
Im going for my abbey cc as much as possible from the new yr!!! got to try and get it down asap!
Just about to go through all the bits ive got for the girls now with dh so will get us in the christmas mood!!

Pips_Mum

Hello Everyone,

Had quite a good MSE day today.
Went to Morrisons, which was murder by the way, and only got a few essentials. Found a huge bag of mushrooms for 29p in the oopsies so I have just chopped them all up and put them in the freezer to use another day.

OH bought home the crate his boss gave us full of baby toys for free, there are some really nice bits. Gave them a wipeover and put some batteries in and they are as good as new.

OH company sent us £15 in M+S vouchers as a Christmas gift and the company he is contracted out to gave us a litre of Smirnoff, a litre of Baileys and a litre of Brandy - bingo Christmas booze sorted!! (not for me of course, so hoping some will be leftover for when I can drink again)

Well incase I do not get on here tomorrow I hope you all have a very Merry Christmas, I hope Santa is very kind to you and you all enjoy some quality time with your families. XX X X

:xmassign::xmastree:Merry Christmas x :xmastree::xmassign:

mummy2mygirls

Merry christmas to you aswell!!
I really hope you have a lovely time and that you dont rush around to much!
Look forward to hearing when little pip arives.

Merry christmas
xx