how much money do you need to start a family?

pollyanna24

krustylouise wrote: »

Like your friend has mentioned there's never a right time. You can plan until you're all planned out but things change. My ex and I had been together for a long time, he had a ft and 1 pt job, I had 1 ft and 2 pt jobs. We lived together had savings etc. We planned DD. 18months later we split, I had PN depression and agoraphobia. I had to go it alone, get a new job (I left mine due to depression etc).

If it feels right, I say go for it. Good luck

Sorry to hijack a thread, but you sound just like me.

You can plan and plan to have a child. Me and ex were together for 9 years before I had our first daughter. Two years later, he left me with a 2year old, a 2month old and a broken neck (okay, he didn't cause it, me crashing my car did, but probably not the best time to leave).

I suffered from bad postnatal depression. I would say we were the perfect couple until we had our first, then he/I couldn't cope and he decided to leave me.

Icey77

Having a baby is one of those things you can't really ever afford, you just have to get on manage as best you can.

Also, don't forget that maternity pay is taxed

There are loads of ways to reduce the cost of equipping for a baby though, joining your local NCT gets you early entry to their sales - amazing bargains to be found. Also try ebay or your local selling page on Facebook.

Several of my friends put off having babies until they could afford it and now seem to be facing fertility problems it appears to be very common sadly.

Good luck x

claire16c

I guess it depends when your baby is born. Luckily mine is due just before the start of a new tax year. So my maternity pay shouldn't be taxed.

sax11

If you think about the cost of having a child then you won't get round to having one. Having less money is a downside but you cannot beat bringing children up and seeing them grow.

Reams

Babies don't cost much, it's when they are older that children drain your wallet.
New shoes every three months, same with clothes. School trips, hobbies, the list is endless. All worth it though.

fay144

You can pick up all the things you need for the baby fairly cheap, and will get loads of presents, etc. You will hopefully be able to save a bit while you are pregnant to tide you over through maternity leave, and will be in a position to save money on commuting, spend time getting good deals etc.


But the real killer is when you return to work. Where I live, it's ~£55 per day for childcare. Maybe you will be lucky and have family to help out, or maybe you and your OH can work flexible hours to cover it yourselves?


But otherwise, you will have a new bill that's more expensive than your mortgage. So you'd need to be sure that you could cut enough elsewhere to cover that.

LittleMissH

I think you can overthink planning for a baby.

I was told I couldn't have children, and then surprise surprise I ended up pregnant. Which was wonderful but unexpected. Every financial decision me and my other half made was based on 2 full time salaries. I got statutory maternity pay, took 8 months off and we managed. We had to be careful but we managed, nothing went unpaid because we budgeted against our monthly income and saved like demons during the pregnancy.

My daughters private day nursery costs £38 a day.

Just go for it - my little girl is without a shadow of doubt my greatest ever achievement.

crazycatlady1984

Thanks all.

I know you are right - I know that if I wait until I think we have enough money we will never do it.

Its not even about "having money" I guess its just about having the security; and a big part of that is that I started a new job a few months back that does not have all the benefits that my old job had (healthcare, maternity pay etc etc).

My OH is self employed so I guess it would be possible for him to stay at home one day during the week and make it up at weekends; it would be a lot to ask but his mum doesn't work so she would *maybe* come and stay to cover 2 days, and then I guess it would just be 2 days left of the week to sort out childcare. (My mum would help but she is still a few years from retirement so she still works at the moment).

I can't live my life waiting till I can afford it and then realise i'm too late, so i'll kick my saving up a gear and hopefully start thinking about it some time after the wedding

Thanks all :T:T