First time mother due in December

lowlitmemory

AFAIK you don't get working tax credits if you are under 25.

pmlindyloo

lowlitmemory wrote: »

AFAIK you don't get working tax credits if you are under 25.

This doesn't apply if you are responsible for a child.

mildred1978

Bamama wrote: »

Thanks princessdon! Just to get it clear I basically won't get anything other than CB until I return to work (the £40 odd being working tax credit)?

mildred - I'm only 24. My boyfriend and myself moved in together in May. Every spare bit of money has had to go on furniture/appliances. My OH has no savings and doesn't seem to be able to save money. I'm trying to help him manage his bank account better but with trying to sort out our bills, working, keeping the house in order, planning for the baby... it's very difficult.
I've got around £3000 in my current account (no savings) but some of that needs to go towards a new car as I currently only have a KA which isn't going to be very practical with a baby.

I'm the born saver and it's worrying me that I'm going to have less income and not be able to save up the emergency money like I am now. I'm well aware that some of that £3000 is gonna need to be spent to keep us living as we are. But it seems like coping so little money is going to be a struggle.

In that case you'll have to find the cheapest stuff you can for baby. Don't worry about changing your car - it's quite possible to fit a baby into a KA.

Can you post up a full SOA - people are brilliant at finding ways to save money.

Bamama

Excuse my ignorance but SOA?

I'm aware it's possible to fit the car seat in the car but there is no way I'd be able to get a buggy in it.

I've been donated everything under the sun and believe I've only spent around £70 of my own money on baby items. This was £35 on a mattress to fit the cotbed my mother bought and the rest on clothes (the essential new baby "whites" that most people tend not to keep).

I don't think I'm really going to need to buy any of the big baby things... ever! Between my family and the OH's we have 7 children under 6 and I also have very close friends who have 3 children under 3 between them. They're all keeping things for me and they can be donated back if they ever have more children.

clemmatis

princessdon wrote: »

They only get 10 hours in Wales? It is 15 here.

People often don't realise things like this. They read about (for example) free prescriptions in Wales, but don't hear about the far longer waits to see a consultant and the more limited treatment options. (I didn't realise till I moved back here, after thirty years in England.) They may not hear about the poor examination results in Welsh schools. And so on.

(I like Wales!)

Bamama

Thread seems to be getting buried. Anyone tell me what mildred means by SOA, please?

scootw1

Bamama wrote: »

Thread seems to be getting buried. Anyone tell me what mildred means by SOA, please?

Statement of affairs.incoming and outgoings

cycloneuk

SOA means statement of affairs, basically a list of your incomings and outgoings, list everything such as food bill, gas, elec, sky, phone contracts ect. Every penny you spend should be accounted for on the list so other people can then give advice on where you could make savings.

mildred1978

http://www.stoozing.com/msoc/soacalc.php

Here you go. Hit the MSE button when you're done and it will format it to be pasted on here for you. Really really worth doing.

Bamama

Thanks for that. I'll get right on it

Currently :
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 957
Partners monthly income after tax....... 1083
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2040
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 50
Gas..................................... 40
Oil..................................... 0
Water rates............................. I've had one bill so far not sure how much it was but it only covered two months
Telephone (land line)................... 35
Mobile phone............................ 70
TV Licence.............................. Paid off until next May
Satellite/Cable TV...................... Inc. in telephone
Internet Services....................... Inc. in telephone
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 200
Road tax................................ Paid off currently
Car Insurance........................... 113
Car maintenance (including MOT)......... Haven't had to pay yet
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..................... 0
Contents insurance...................... Paid £117 for the year ends October next year
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1203

Assets
Cash.................................... 3000
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 3800

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,040
Expenses (including HP & secured debts). 1,203
Available for debt repayments........... 837
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 837
Personal Balance Sheet Summary
Total assets (things you own)........... 3,800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 3,800

While on Maternity Leave
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 585
Partners monthly income after tax....... 1083
Benefits................................ 86.60
Other income............................ 0
Total monthly income.................... 1754.60
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 50
Gas..................................... 40
Oil..................................... 0
Water rates............................. Unsure
Telephone (land line)................... 35
Mobile phone............................ 70
TV Licence.............................. Paid til May
Satellite/Cable TV...................... Inc. in telephone
Internet Services....................... Inc. in telephone
Groceries etc. ......................... 200+ baby
Clothing................................ 0
Petrol/diesel........................... 200
Road tax................................ Unsure
Car Insurance........................... 113
Car maintenance (including MOT)......... Unsure
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ Unsure
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... Paid until October
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1203

Assets
Cash.................................... 3000+/-
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 3800

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1754.60
Expenses (including HP & secured debts). 1,203
Available for debt repayments........... 551.60
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 551.60
Personal Balance Sheet Summary
Total assets (things you own)........... 3,800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 3,800

After Maternity Leave
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 433
Partners monthly income after tax....... 1083
Benefits................................ 268.46
Other income............................ 0
Total monthly income.................... 1784.46
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 50
Gas..................................... 40
Oil..................................... 0
Water rates............................. Unsure
Telephone (land line)................... 35
Mobile phone............................ 70
TV Licence.............................. 0
Satellite/Cable TV...................... Inc. in telephone
Internet Services....................... Inc. in telephone
Groceries etc. ......................... 200+
Clothing................................ 0
Petrol/diesel........................... 200
Road tax................................ 0
Car Insurance........................... 113
Car maintenance (including MOT)......... Unsure
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ Unsure
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... Probably the same £117 for year
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1203

Assets
Cash.................................... 3000 +/-
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 3800

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1784.46
Expenses (including HP & secured debts). 1,203
Available for debt repayments........... 581.46
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 581.46
Personal Balance Sheet Summary
Total assets (things you own)........... 3,800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 3,800

Hope this makes some sense. Seemed pointless just putting my current status as it's due to change.