Wanting to start a baby fund ...

thoragunnr

Have any of you "saved for a baby?
what do you use the money for?
How much did you save?

Fireflyaway

I didn't because we used every penny on bills. However I know someone who did save because it allowed her to take a years maternity leave rather than 9 months. Every month of pregnancy she put a bit away and was then able to enjoy the maximum leave without impacting living standards.

Spendless

I didn't but I wish I had. I wish I'd saved enough money to pay for the childcare bills between maternity leave ending and at least getting funding for nursery at 3years, if till starting in reception wasn't acheivable.

I still feel 17 years on that I had no alternative but to quit my job when my son was born as the childcare bill was equivalent to my net wages and there was no financial help towards the cost.

Lally86

A lot will be gifted. If you ask for specific gifts you will save loads and the person gifting will also be happy that they are buying you something of use. You will need to save for the big things, Prams, cots etc. Write a list of what you need and work out your expenses.

thoragunnr

Thank you all great tips !
I'd love to have a baby or at least get pregnant by late next year around this time or in 2019.

I just want to start making some preparations now to get a head start before things start picking up and to get some knowledge of what the money actually goes on.

How much should I put away a month?

kingfisherblue

Put away whatever you can afford. Even better, if you can manage to live on one wage and save the other, do that.

Many years ago, we saved £500, which was a lot from two low earners in 1990-91 (or at least, it was a lot to us!). We didn't manage to live on one wage, as we both earned very little, but we did what we could. It meant that when our daughter was born, I could return to work part time instead of full time, as we had got used to living on less. We were lucky that both pairs of grandparents were keen to look after our baby though, so they both had her for one day a week, and my husband had her on Saturdays, while I worked.

Good luck x

Shakey87

Thoragunnr, I am in a very similar situation to you and wondering exactly the same thing.

I'm currently trying to get on top of our finances and am combing through the MSE boards! Luckily myself and my husband are not in any debt so I am thinking of doing a SOA to look at exactly what is needed to cover our morgage, bills & living costs each month and therefore calculate how much we will need when I am on mat leave, and how much to try to save. As for a budget to pay for baby stuff... it's hard to know what's essential when it's your first. I don't have close family/friends who have recently had children and might have hand-me-downs. I hadn't even thought of saving to pay for childcare until reading this thread!

Good luck!

thoragunnr

We're not in any debt but I have no savings and my Mr is saving to do the intense driving course and eventually get a car. He earns £500 more than me and is able to put away £300-400 away each month whereas I'm only able to put away £100-200 away and I'm the only one whose savings for a child... we do really want children but I haven't discussed my wishes to get pregnant next year too much yet with him... I may ask or tell him tonight that is love to start a family of our own with him.

It's impossible to live on one income for us since I do get paid less but feel wrong for me personally to ask him to pay for our bills since he pays the rent and smaller bills he helps out a lot when I do need extra cash.

My family lives too far away and I doubt my mum will be able to look after the kid since she's always taught me it's my responsibility plus because of the travel ext. His family lives in Oxford whereas we live in Bristol...

I don't mind buying second-hand on stuff that it's okay to though I'd love a new pram or almost new pram and a new cot .

I'm also wondering about our home since it's cosy for 2...its only one bedroom and small I think we could raise a child in this home but it is something that's giving me extra doubts ...nor doubts as such but ya know.

kingfisherblue

Look on Freecycle when the time comes - lots of things like baby bath, high chair, clothes, etc. Car seat and cot mattress should always be brand new. Some people will get bottles second hand, but personally I wouldn't - even though you can clean and sterilise them.

thoragunnr

Yeah I wouldn't buy second hand bottles.... just gives me dongles thinking of using someone else's bottles.

Yeah I'd always get new for that stuff.

Sorry if it seems stupid asking I just don't want to not know what stuff I need it with finances ext.

I just want to be the best parent I can and to provide the best start I can.

penguingirl

I have a 12 week old. We haven't bought much 'stuff' as we've been gifted a lot and given clothes from his cousin who is a few months older.

The biggest cost by far is taking maternity leave and childcare/retuning to work part time. For example, 3 days a week childcare is just over £600 a month. Even at 3 when he gets 15 hours 'free' it's not that much cheaper as there are lots of restrictions placed by nurseries about how the hours are used. None of the nurseries near me offer the 30 free hours. Although worth looking into whether you're eligible for tax credits