Starting a family and being MSE about it!

SkintMonkey

We are going to start trying for a baby, I finished my last pill packet on Sunday and that's it - I know it may take some time, especially as I've been on the pill for a long time - but we want to start to now plan for the baby financially, so that we are prepared!

I've decided to work out a sum of money to transfer over to my savings every month and to try and build a little nest egg we can use to buy things for baby and for when I'm not earning my full pay on maternity leave - hubby doing the same. Not sure how much that will be yet, but hopefully I will be disciplined and it will mount up to a juicy sum.

Should we aim to save a set amount - or just chuck in as much as possible? How much do babies cost in the first year anyway?

I feel rather daunted about it all really...any advice?

TheWaltons_3

Congratulations on your decision!

Babies are expensive!

I wouldn't know where to begin... I am just bracing myself for the couple of hundred quid I've got to spend in a few weeks or so when my Twins go into larger Car seats!

sylphraven

I would say work out a minimum amount to put in per month, then put this plus whatever else you can in.

Theres no set amount to how much a baby can cost in the first year (its a LOT) but there are loads of ways to cut it down:-

• Your planning early so buy things in the sales as they come up
• Go for eco friendly, washionable nappies rather than disposable, much cheaper in the long run
• Buy baby toiletries when you see them 342
• See if any friends & family can give you 2nd hand items such as baby baths, cots (you'll need a new mattress) etc. As they are used for such a short time they'll be just like new.
• If you can Breast feed, this will save you about £5 a week, if not more (I know as I physically was unable to)
• Look at ebay, my friend & I bought the same travel system (i.e car seat, push chair etc), both brand new but mine was 1/2 the price of hers as I got it from an ebay shop.
• Get a blender or similar to make your own baby food.

I'm sure others will be able to give you lots of other MS ideas

Good luck & I hope get a bump soon.

louise_1981

decide on what you would not mind second hand and what you would, then pass the word around that you are on the look out for these items. your local Freecycle is a good place to start, just slip an add in there once a week / fortnight, and you will soon have a pile.

get on the boots / tesco board, they have plenty of money saving times to grab baby toiletries for very little, and if not getting the items direct you can save up the points and buy them that way.

Mizz_Pink

I wouldnt do anything apart from save some money. Its not necessarily going to happen straightaway. I certainly wouldnt start buying anything, Sorry if I'm being pessamistic just trying to be realistic.

Sorry forgot to say good luck !

Melly74

My partner and I also decided that now was the time to try for a family, we're both financially secure, own our own home and have good jobs. We thought we'd have plenty of time for saving!

Be warned - I was on the Pill for 17 years, I took my last one on the 12th of April and I'm now eight weeks pregnant! :eek: Didn't really give us much time to start saving as much as we wanted!!

Nevermind!:D

Justie

saving is a good idea - not so much because of what a baby costs (it needn't cost very much in the first year or so) but more to get you through the drop in earnings during your maternity leave and to compensate for childcare costs when you go back to work.

Freecycle, carboots and ebay are your friend. The only things you *should* buy new are cot mattresses (and moses basket mattress is you have one) and car seats everything else is a personal decision but could be got second hand.

Keep an eye on your local NCT their sales are fantastic and always good quality stuff.

There are various threads on how much a newborn costs if you do a search and don't believe the hype that it costs thousands - it only costs that if you buy everything new, matching and anything you could possibly dream your child need - babies really don't need that much.

If you really want to save money then look into co-sleeping and babywearing which will save you the costs of a cot and a pram, combined with cloth nappies (especially if bought second hand or got for free off Freecycle) and breastfeeding can save you a fortune.


Oh yes and it MAY take you a while to conceive or it may not - took us a couple of months of not really trying...

Curious_George_2

Melly74 wrote: »

Be warned - I was on the Pill for 17 years, I took my last one on the 12th of April and I'm now eight weeks pregnant! :eek: Didn't really give us much time to start saving as much as we wanted!!

Nevermind!:D

I was going to post something similar,
it may take a while for you to fall pregnant but it also may happen very quickly... with my oldest we were told 6 - 12 months after finishing the pill as i had been on it so long,
i took my last pill on 24th june (my then OHs 30th birthday) and DD was born over due about 3 weeks before his 31st birthday!

this time round i had the coil in for 7 years and not a period in that whole time....
it took 2 cycles to get preggo :eek:

DONT touch me! im uber fertile

squashy

See I think if you save up £2000 you will spend that! Far more MSE to think "ok, we can afford to put £20/£30/£50 a month away" continue to do so until your baby is born then look for bargains and second hand things. Yes there is a lot to buy but don't believe all the hype about so-called "essential" gizmos and gadgets.

ailuro2

Put away half of your take home pay- then you will be able to afford to take extra time off after any forthcoming baby- if nothing happens for a while then you will have an even longer break with baba.

I know one couple who did this for 5 years before having their first- so Mum could stay home with no childcare costs.

Savvy_Sue

I thought advice was to take other precautions for a while after coming off the pill to let your cycle settle down? Which gives you a couple of months of saving, all being well ...

Good luck.