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The Edcawber Principle

edited 30 November -1 at 12:00AM in Mortgage-Free Wannabe
1.9K replies 223.5K views
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  • slowlyfadingslowlyfading Forumite
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    One of the main reasons we haven't rushed to have a football team is because I'd rather raise one child in relative material comfort than several in dire straits. We will need to strike a balance, but are watching siblings live life across the materialism/number of kids spectrum and to date I wouldn't swap with any of them.
    Interesting to read this. We have two kids and I'd love another (much to Mr SF's dismay ;)) and we are not in dire straits but we don't earn a lot either. As an only child, I'd have hated to only have one child; I remember the loneliness and the pressure because I was the only one. Different perspectives on what you can offer, I suppose :)
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
    Personal Finance Blogger / In pursuit of FIRE :)
  • choccieloverchoccielover Forumite
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    DD is an only child and will remain so.

    Despite us being in a solid position financially I have the same concerns about being able to do all the same things for 2 that I can do for 1. Our choice but she does go to private school and paying that x2 would be life changing for us and selfishly I don’t want to make those cut backs

    My DH was an only child, and happily so.

    It’s horses for courses and whilst I agree money isn’t everything, I want to give DD everything I can (whilst trying not to raise a spoilt self entitled brat...it’s a fine line :eek:)
  • Suffolk_lassSuffolk_lass Forumite
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    DS is an only "child" - not spoiled, never was a brat - just a bit of a hippie who is not materialistic and works as little as possible with no regard for his financial security or future. No sense of entitlement but he has never felt poor - we kept our sacrifices from him - nothing on the scale of my parents' struggle but we elected to send him to a prep school until 11. Love him to bits and he is a gentle, generous young man (with good, straight teeth, thanks to the Child Benefit). What can I say? it is all the choices we make

    Save £12k in 2020 - #20 £5,010.84/£5k 100.22% after September
    OS Grocery Challenge 2020 target £2,230.32/£3k 74.34% so far at end of Sep
    Mortgage Free Wannabes 2020 #37 - exceeded our £15,000 target and paid the whole thing off
    MFIT T5 No 2 all gone after Q7
    My Debt Free Diary was Get a grip Woman
  • greentgreent Forumite
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    My uncle was the youngest of 6 and chose to have only 1 child. My mum (the eldest) also chose to only have 1. 2 of her siblings had none. As an only child I've chosen to have 4 (ok - no 3 was a surprise!) - I always wanted at least 2 - I felt I missed out on a sibling and the possibility fo nieces/ nephews and cousins for future children (I do have a half-sister but we didn't meet until we were in our 30s/ 40s) Yes, we'd have a very different life if we'd stopped at 2 - but I prefer having the smaller 2 to having had more money/ more holidays/ newer cars/ being able to retire in a couple of years as opposed to in 10 years etc. Hopefully none of them feel like they've missed out on 'stuff'

    Everyone is different :)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786 12/19 £48986 2020 OPs (#18) £5138/6K
    Net sales 2020 £607.06/£500 Decluttering: 2030/2020
  • edinburgheredinburgher Forumite
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    I have been paid a few hours early - thank goodness! I think we tried to stretch our budget too far in May and failed miserably. Our savings are almost entirely depleted and will need to be topped up with my 13th wage. It got so bad that I forgot to transfer myself money from savings and our mortgage DD may have bounced for a few hours :o :eek:

    Still:
    1. £832.63 of CC debt repaid - making it our single biggest line item for the month
    2. A memorable 4th birthday party for DD
    3. Holiday costs for our "free" trip (3 days to go)!

    June is shaping up to be far less dramatic, but a few positives so far:
    1. Holiday spending money covered by money what we saved up from our pocket money like big people :D
    2. £87.29 paid off CC so far
    3. £30 of Premium Bonds bought

    Right - off to bed :)
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • beanieloubeanielou Forumite
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    All good actually.
    Enjoy your break :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • edinburgheredinburgher Forumite
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    Back from hols. Hotel was nice, but air condititioning wasn't on and it hit 35 on a couple of days. Non-Maltese staff friendly enough, Maltese staff offhand and disinterested. Wee one got a bit bored and miserable towards the end of the trip (all inclusive gets dull and she had a heat rash/difficulty sleeping). The bit of Malta we saw concretey and uninspired (I'm sure it would have been different if we'd made it to Valetta or similar).

    Only put on a couple of pounds, but straight on the post-holiday diet and not enjoying it on day 1! :eek:

    £453.91 paid off CC (minimum payment and our FIT money of c. £175).
  • teapot2teapot2 Forumite
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    Sorry it wasn't the best holiday experience - back home to Scottish weather :eek:
  • beanieloubeanielou Forumite
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    Great news on the CC payment.
    Sorry to hear that the holiday wasent the best.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • edinburgheredinburgher Forumite
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    Thanks guys, you win some and lose some when it comes to holidays :think:

    £5.52 paid off the CC and 4lbs lost after diet day 1 - doubtless just water weight.

    Two last minute Father's Day presents ordered, one of which will be late :o It is hard to be that bothered when I only hear from one of the fathers every quarter if I'm lucky... :p
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