Does this Qualify as a lightbulb Moment ?

highguyuk

I didn't mean it to sound harsh, just my little way of saying thats quite a bit.

If I wasn't here to support, I also wouldn't have posted...

Maybe you've started a trend with the bulbs. Surely 100w is not as bright as it seems as you are wasting more energy. Maybe the lower the wattage the closer to realisation you are ...

rubix_76

tyllwyd wrote:

Have I got this right, your baby is due any day now (best wishes!) and your OH intends to go back to work when s/he is about four months old - and your childcare will be £433 per month, but your shortfall in your income will be £467? Looking at those figures, I would question whether it was worthwhile rushing back to work so soon - has she thought about making maximum use of maternity leave instead?

If you and your OH are both working over 16 hours per week, you should be able to get a bit back for childcare tax credits (ring up the tax credits people to let them know, it is easily done).

Edited because I got muddled and thought you were the one having the baby, not your OH!

Your numbesr don't work, OH is on good pay and will be goinmg back 3 days a week, she earns more in those 3 days than what we will pay in childcare. and she can get overtime when necessary (guess I better practice my babysitting skills) much easier than I can.

Now if I was having the baby, I could sell my story to the press and make LOAD$ of money :T

Rubix

rubix_76

highguyuk wrote:

I didn't mean it to sound harsh, just my little way of saying thats quite a bit.

If I wasn't here to support, I also wouldn't have posted...

Maybe you've started a trend with the bulbs. Surely 100w is not as bright as it seems as you are wasting more energy. Maybe the lower the wattage the closer to realisation you are ...

Sorry Highguyuk, I appreciate your help, but I (and I'm sure I'm not the only one) feel as if I'm being told off by my mum and dad. Now I know I need to sort myself out, but at the moment it seems very difficult.

I went home a few days ago and spilled all my guts to OH (she is over 9 months preg - bad idea !!!) saying it was dire, and I couldn't see what we could do. I should have kept my trap shut for a few weeks al least but I could see it getting bad, and with the baby on the way, started worrying.

This is minor in comparison with some of the threads I have seen, but I THOUGHT I was good with money, I was clearly mistaken. I am by no means carless, but need to be careFULL, and watch waht we spend.

I am gooing to pay a visit to the scissor drawer and make a date with the credit cards for a BREAK UP (BOOM BOOM - is that a basil brush moment) :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

Thanks, I do really appreciate all your help

Rubix

skintchick

rubix_76 wrote:

Your numbesr don't work, OH is on good pay and will be goinmg back 3 days a week, she earns more in those 3 days than what we will pay in childcare. and she can get overtime when necessary (guess I better practice my babysitting skills) much easier than I can.

Now if I was having the baby, I could sell my story to the press and make LOAD$ of money :T

Rubix

I thought you were a girl, too

tyllwyd

rubix_76 wrote:

Your numbesr don't work, OH is on good pay and will be goinmg back 3 days a week, she earns more in those 3 days than what we will pay in childcare. and she can get overtime when necessary (guess I better practice my babysitting skills) much easier than I can.

Now if I was having the baby, I could sell my story to the press and make LOAD$ of money :T

Rubix

Oh, I see. What confused me is that your figures take a nosedive when she goes back to work, but I think that's because you haven't listed your income separately, and you have only given one figure for your income - have you adjusted that to take account of the increase in your total income when she goes back?

rubix_76

skintchick wrote:

I thought you were a girl, too

THANKS ALOT

I'm going to have "im" chopped off to satisfy you lot :j

No where did I out those hormones :rotfl:

Just goes to prove that you just can't tell from how people write.

rubix_76

tyllwyd wrote:

Oh, I see. What confused me is that your figures take a nosedive when she goes back to work, but I think that's because you haven't listed your income separately, and you have only given one figure for your income - have you adjusted that to take account of the increase in your total income when she goes back?

(With a gruff manly voice)

Our income (2300) is what we are getting at the moment (her Mat leave pay) and hers will drop (from 5 days to 3 days) when she goes back but not sure how much. she pays her pension and student loan out of her wages at the moment, and she may drop below the threshold for the loan, not sure yet though.

Going to check if my manlyness is still present :rotfl: (honest I'm not bitter)

tyllwyd

rubix_76 wrote:

(With a gruff manly voice)

Our income (2300) is what we are getting at the moment (her Mat leave pay) and hers will drop (from 5 days to 3 days) when she goes back but not sure how much. she pays her pension and student loan out of her wages at the moment, and she may drop below the threshold for the loan, not sure yet though.

Going to check if my manlyness is still present :rotfl: (honest I'm not bitter)

Eeek! I'm sure you are terribly terribly butch in real life, honest - it's all this talk about maternity leave, it's awfully confusing you know. :rotfl:

It sounds as if it would be worth you sitting down and trying to estimate what her future income will be, so that you can make decisions based on a realistic figure. I suppose that she will be earning about 3/5's of her full time salary, but then her pension contributions will decrease and so will her tax/NI. I wouldn't rely too much on assuming that she will be able to do overtime during the first year or so - I know from when I had my first baby, it was as much as I could to just to make it into the office three days a week, let alone try to do any extra.

CLAPTON

given a certain level of confusion here both in terms of gender and income maybe it would be worthwhile reviewing what savings you feel you can achieve, reprofile your income over the next year including child benefit and any child tax credits and re post with the updated info....I think we've worked out the gender thing now

best wishes

tyllwyd

Hi Rubix - I've been thinking a bit more about this (sorry, I can't help myself!)

You've written your current combined income as £2300. Assuming (to make the figures easier!) that your wife's contribution is £1000 and this is her full time wage. When she goes back to work she will earn 3/5's of this, which gives £600. So if she doesn't go back to work in July, your total income will drop by £1000 when her SMP ends. If she does go back, she will earn £600, which means that your total income will drop by £400 - but then you have to pay out £400 childcare, which means that in effect, your total income will drop by £800.

I know my figures are over-simplified, but I don't think you have fully reflected this in your SOA at the start of the thread. I think there is a danger that you and your wife will think 'oh, it will be alright when I get back to work' but in fact, your income will drop like a stone no matter what, and you do both need to budget for that now.

When I was on maternity leave I felt rich, because I was getting practically my full wage but with no expenses like lunch at work, work clothes, travel, parking etc etc. It might seem daft with a new baby on its way, but maybe now is the time to start budgeting hard so that things aren't so bad in four months time.

Oh, and baby was overdue yesterday - I hope things are going OK today?