Saving money by becoming a house wife

clairec79

You're a nurse then maybe going on the bank and doing the odd shift when you want for luxuries

margaretclare

Tenyearstogo wrote: »

Blether I probably made it sound like it's his decision. But it's more that my husband thinks I'd benefit from it. I didn't word it well in my original post but it's something we've talked about a lot. I was a single mum before I met him and he knows that if I want to work, I will.

Financially I control everything. He wouldn't know how much any of our bills are, he doesn't have a clue of our household income either.

Pension wise, we on track to pay off our mortgage early and have pension pots in place, those will still be paid for if I gave up work.

I wouldn't lose independence because I'd probably do a bit of volunteering at the school and I have lots of friends who don't work. I probably would do some part time work or retraining at some point.

What about NI contributions for your state retirement pension?

Mojisola

margaretclare wrote: »

What about NI contributions for your state retirement pension?

Until the youngest child is 12, she'll be able to claim credits if the CB is paid in her name.

After that, it will have to be voluntary contributions.

jackyann

margaretclare wrote: »

What about NI contributions for your state retirement pension?

ah, margaretclare, we always on the same page with pensions! I mentioned it among other stuff in #36 but I don't think Ten has answered - hope she is on the ball though.

And as for nursing - I think it's fantastic job and wouldn't have done anything else, but I was able to "drop back" a bit when I got burn-out, and pick up again when I felt better. The NHS don't look after nurses well (nor most of their other staff) and as far as I know still aren't really tackling the issue of stress.

That is one reason I hope Ten keeps up her fitness to practice for a few years, as it may look different in 2-3 years' time.

Tenyearstogo

Post 13 I mentioned pensions. I really am sorted with pensions etc. My husband is in financial services so that's covered. Ironic that he is ultra concerned about twenty years time but doesn't know if we can afford the gas bill!

We don't get child benefit anymore.

jackyann nursing will always be a back up, I will keep up to date but I'll be a really privileged position of being able to change career.

Mojisola

Tenyearstogo wrote: »

We don't get child benefit anymore.

Is this because of your OH's income?

Contact the HMRC because you should still be able to get credits towards your pension even if you're not actually receiving child benefit but do have a child at home - the cut-off age varies depending on whether the child stays in education.

fluffnutter

Tenyearstogo wrote: »

My husband would like me to give up my job and become a housewife.

Just so long as that's what you want too...

dandy-candy

OP I'm sure that moneywise you can work things out. I would seriously consider having things other than home life during your day.
I have been a SAHM for 21 years now and I feel "conditioned" by it. Its been great having seen my kiddies grow up, but I really struggle to have anything to say to people outside of my bubble and some really do look down on you as if SAHM = thick/work shy.

fluffnutter

Tenyearstogo wrote: »

We don't get child benefit anymore.

You should still claim it even if it's clawed back from your husband's salary. That way you'll continue to accrue NI credits.

jackyann

Tenyearstogo wrote: »

Post 13 I mentioned pensions. I really am sorted with pensions etc. My husband is in financial services so that's covered. Ironic that he is ultra concerned about twenty years time but doesn't know if we can afford the gas bill!

We don't get child benefit anymore.

jackyann nursing will always be a back up, I will keep up to date but I'll be a really privileged position of being able to change career.

Sorry ten, I must have missed that bit in #13 (always easy with a long thread) and I am glad that you will keep up to date. Although I have loved the times in my life that I have been a housewife (I am now retired) I also loved nursing, and yes, it is a very good profession to be able to dip and out of.
As for not getting child benefit, my understanding (please check) is that you can still have your NI credited if you have an under 12, but you have to inform them (DWP I mean!). I'm sure it will be on directgov.

Good luck!