will i be able to afford to have kids?

welshmoneylover

My food bill is shocking too.

OP, I bring up 3 kids on far less than your income and we eat well, they do trips and I ensure we have at least one foreign holiday a year.

I just make sacrifices and I'm happy with my brood.

hth

Rolandtheroadie

smorri4 wrote: »

Hey

Been thinking recently how the hell i would afford childcare costs if i were to have kids. Both me and my partner work FT bring home £50k a year (37k) after tax. Been on entitled to, and we wouldn't get any benefit at all with us both working, and even then a measly amount if i were to reduce my hours or quit work (which i don't want to do). We have a mortgage bills (totals £1400 a month) - so what do you do? quit work and have like 10 kids or just not have them? HELP!

would be interesting to speak to other couples who have been in this situation and find out what you did to overcome it?

thanks

We (were) very similar (50k in, £1400 out). We've 4 kids now, wifes just took a career break (4 years) so incomes down 10k there (which doesnt affect tax credits in the slightest).
In those 4 years, our outgoings will still be approx £1400.

Working families tax credit is approx £10 per week if your on 50k (£20 PW for the first year for a child under 1) and approx £20 for the first child Fam allowance. I think your income has to drop to below 24k to get any more.

You will never afford kids, money is only 1 in a long line of sacrafices that'll need to be made.
Personally i'd go for it. Its more rewarding than anything else in life. Good luck.

Rolandtheroadie

Just to add a bit more on the other comments made.
Holidays. This is our first year we have not went abroad. The 6 of us went to Mexico last year (ok, 2 were free as they wernt born yet) and have been abroad every year for the past 8 years.
We also normally had a week in the uk too (easter or October break).
Food. Between £110 and £140 per week. Includes £24 baby formula and about £8 to £12 nappies. We rarely eat out the freezer (2 packs mince, 2 packs chicken, large joint of meat that does 2 meals) and then home made macaroni.

flea72

Rich44 wrote: »

You manage to feed 4 people and cats on less than £200 a month???

What do you live on porridge?

perhaps you need to view a thread by Weezl74, her current target is to feed herself on 50p a day - compared to that, £200 a month for a family of 4, is eating quite nicely, not that those on the 50p a day challenge, are going hungry either

were a family of 5, with cats and chickens, and i wouldnt say we go hungry on a budget of £150. infact porridge, is the one thing we dont eat (unless its wrapped in syrup and chocolate and called a flapjack)

Flea