Baby Fund Challenge

Peonie

As I said I'm wondering if I've miscalculated. In fact I've calculated it a few different ways and they all seems to come out with different credit amounts.

Here's one way, I calculated - part 1:

(9 months current costs + decorating/baby stuff) - (statutory maternity pay + child benefit) = money needed from sunny day savings.

Part 2:

(Money needed from sunny day savings * 2) - total sunny day savings = credit for IVF pot.

The '*2' is for 2 lots of maternity leave. For baby 2 we would not need to decorate the same or by more baby items but have kept the same amount of money in to cover the additional cost of already having a child.

Please help.

Does it look right to you?

gonnabedebtfree

hi ladies can I join this thread please, call me mad but hoping to conceive number 5 soon, we have debt that im trying to pay asap, have my sisters wedding coming up in july but would like to save some each month as well as our emergency fund, even if its a small amount it will help

gonnabedebtfree

how do I subscribe to this thread?

PrincessLou

Hi gonnabedebtfree :hello:

Just let me know what your baby fund target is and I will add you to the list. :j

PrincessLou

Peonie,

I just worked out how much my contributions to bills etc were each month, worked out how much maternity pay I would be entitled to and then worked out the shortfall, this is how much I needed to save.

I had a seperate savings pot for baby things.

Lou

PrincessLou

Time to start the baby fund up again :j

I've got over a year before we start trying for another baby but I know just how fast this next year will fly by so I'm going to aim to get a good head start.

We will be keeping a few bits here and there that the boys have used, but to be honest alot of things have had so much wear and tear from the boys that there are quite a few things I will have to buy new again. When I get a minute I will sit down and write a list of items that need replacing.

Got quite a few baby things to stick on ebay or facebook......when I get the time :eek: Will use any money from sales towards the new baby fund.

So plans in place and lists to write....now just have to find the time to do it!

Vicky496

Can I join please?
I just found this challenge on the forum, but had already set myself a goal to save £2700 by the end of sept (EDD is 26th Sept).
Got to finish clearing my overdraft before saving though - due to clear on 25th July.

I might have to update the £2700 target though as it was based on my best guess of what I'll need!
Where do you find the SMP government calculator?


Edit: I guess no ones using this thread?

castlelough

Hi Vicky, welcome to the challenge!

How is everyone doing?!

A little update on me! I'm almost 15 weeks pregnant, which is a great milestone after my previous miscarriages! :j:j:j

The babyfund is empty, but because I'm getting lots of extra visits with my gynae, we are paying a bit off our bill each time we go. Which makes it much more manageable! Our gynae fee is €3000 (and that's with private health insurance!) but it really is worth it for all the extra care I'm getting. I've had 4 ultrasounds already and another appointment next week! All great so far! Baby is growing well, though I've been miserably sick for much of the last 9 weeks. Much better this past week or two though!

My maternity pay is quite good and we have been offered all manner of things from friends! So hopefully we'll be ok on the baby fund front, and I'm quite happy to buy nursery furniture second hand (though, a new mattress is a must!) - but that's all a good bit down the line.

I was pondering whether to go the cloth nappy route, in terms of saving money in the long run (assuming, hopefully, that we'll have some more children in the future as well) but it all seems very messy....so I'll have to give it more thought!

In the meanwhile, must concentrate on finishing the house and getting in long before baby arrives!!!! :rotfl: