Baby Fund Challenge

EchoDelta

Peonie wrote: »

Quite a few of us on the MFW board call that the Tilly Tidy after one of the members.

Ah cool I love the Tilly Tidy! My new daily ritual.

EchoDelta

EchoDelta wrote: »

Have number crunched!

The shortfall that we will need to have saved is about £7500.00.

We have saved all the child benefit since DD was born so have £3000 there and £976.78 in our baby savings account.

So that's £3523.22 to go.

:eek:

Am idiot... Didn't include such "luxuries" in budget as fuel for car and groceries *face palm*.... Revised budget is a whopping £9200! :eek:

And that's with me doing 10 KIT days and dh being able to do an extra day per week while I am off.

Aiming to save £280 per month from next payday.

Ultra determined!

Hope that everyone is doing okay (if you are out there!)

Thanks for helpful space to get this down and keep me on track.

Peonie

Hi Echo, it's interesting to keep popping in and see your signature expand as you join different challenges. £9,200 outdoes me! And saved a lot already; especially as you already have a little one.

I'm up to £6,610 now. In 4 months I should reach my target.

EchoDelta

Hi Peonies,

It's as I find my way around the boards I find things that seem to call to me!

4 months to target is fab:)

Dh and I think we can save £ 280 per month from now on which is good but we will also need to step up our efforts as well. Going to go through all utilities and see what we can shave off and divert to baby fund.

Top tip for saving for second one is to put the child benefit in a separate account. Even though things tight as dh went part time we managed without it and so it has really built up.

We were also talking long term money plans today....

-baby
-pay back parents
-move house
-save for retirement
With shorter term stuff along the way (trips, car etc). I like knowing that we are on the same page!

chelseablue

Hi All

Can I de-lurk and join in please?

Im 29 (30 in June, eek! :eek:)

Would like to start trying for a baby later on this year after saving for a few months

Already have £3,000 saved

Not sure how much I would need saved in total, this would be mine and OH's first little person

I'll say £10,000 by the end of this year, just because 10 is a nice round number lol.

Hopefully that would cover everything; all the 'stuff' needed, outgoings when Im off work etc

xx

EchoDelta

Hi chelseablue!

Sounds like you've made a fantastic start.

Good luck!

gearfreak

Hi,
Can I join please, peonie has pointed me in the direction of this thread after I started another one in the how much have you saved forum, but as a newbie it won't let me post the thread.

I'm currently 24 weeks pregnant and I'm planning on starting maternity leave on 1st July and hope to be off for 12 months, although may go back sooner if we struggle financially. With my savings I now have £11,280 in my savings account for my maternity leave and I'm hoping to add between £300 and £500 per month to this before I lose my full pay at the end of August. I have been really lucky and got a large PPI refund, which has helped massively with the savings.

Most of my baby stuff I'm either being given 2nd hand by friends, brought by parents and inlaws or buying off ebay second hand. As they'll grow out of it so quick anything second hand is normally in great condition and then you can either pass it on to somebody else or sell it on ebay to get some of your money back. So anything I am buying new I'm keeping the boxes etc for in the hope that I'll be able to recoup some of the cost in 6 - 12 months by selling on ebay if that makes sense?

Overall I'm hoping that I might have some savings left to have a Rainy day / redundancy fund at the end of my maternity leave.

Nice to hear all your stories though xxx

EchoDelta

Hi gear freak,

Congratulations on your pregnancy, hope that all is going well.

Fantastic savings! That's awesome!

Totally with you on the second hand stuff. We've had some great bargains and still do actually (not quite so brilliant on kid stuff rather than baby stuff). We saved all clothing etc from first time round and when we are done will definitely be selling lots on.

Xx

Peonie

Welcome Gearfreak, it's good to see you've joined. I think the site lets you post links when you hit 10 posts. Do you know how much you are aiming to save or how much you think you could live on whilst on maternity leave?

gearfreak

Hi
Thanks ED, yes all going well now after the morning sickness stopped!

Peonie, yes I've done a very long spreadsheet which has my income and outgoings in for each month whilst I'm on maternity leave, then that links to how much needs to come out or go into my savings account. I've included things like child benefit, smp, kit days and work travel allowance so hopefully it should be pretty accurate. I don't have the spreadsheet to hand but I'll try and post the figures tomorrow.

Just won a load of great looking scandanavian baby clothes on ebay as well for a few pounds so well chuffed with that :0) and made about £50 on ebay today from selling!