One income family of four - can we get ahead even after pay cuts?

Bluegreen143

Oh meant to say. I’m going to officially give up on my 21 goals if I’m going to be starting work as I set them all based on having plenty free time. So I’ve streamlined my New Years resolutions:

HEALTH
- lose 21lb by eating healthily and making time for movement every day (walking, stretching/yoga, a quick bodyweight workout)
- get to bed by 11pm every weeknight

WEALTH  
- save a £2,000 emergency fund (set up longer term goals eg mortgage OP after this) and fill the help to save accounts each month
- keep YNAB updated daily to keep in control of our money 

RELATIONSHIPS 
- make time for weekly date nights and marriage meetings
- prioritise daily special time with both kids, and make sure we take time to get outdoors as a family as much as possible (at least one special walk every dry weekend)

Re the weight loss, can report a week one loss of 2.75lb! Happy with that. Red lost 2.5lb so I’m winning too 😁

Moneywhizz

Great news on getting the hours that you wanted and on Red's mum potentially helping out with childcare. I look after my grandchildren two or three days a week and I love doing it. I can understand you feeling a bit emotional about leaving Bambi but really, it will probably benefit her to be away from you and the home and to mix with others. I would not advocate leaving your children from 8 - 6 five days a week as sometimes happens but the hours you are talking about are absolutely fine. Will it be a working from home role even after Covid or will you then have to add travelling time to your work days? It does sound like a perfect opportunity for you and with your organisational skills I am sure you will be able to make this work without affecting your family life. 

Bluegreen143

@Moneywhizz something for me to discuss with them - so far the manager has just said sold it as working from home and as long as the work is done there is a bit of flexibility on when you actually do it but I need clarity on whether WFH is just a temporary Covid measure. When I worked there before it was a bit frowned-upon. Hoping that covid has changed this mindset. I hope she will agree anyway that if it’s a 1y fixed term that we can make WFH part of the deal for the full year and maybe review if it’s getting extended but hopefully I’ll have done a great job for the year and they will be happy to continue. It takes about 20 minutes to drive there in normal traffic but rush hour in the morning doubles that at least. I need to pick up Monkey at 3.15pm and don’t have anyone else to do it (as MIL doesn’t live nearby and doesn’t have a car) so working in the office would mean leaving earlier which obviously would make it hard to fit my hours in.

Sarahwithlove

Sounds like you need to be working from home then. If your mother in law was to have Bambi one day could she pick monkey up from nursery on that day? Or would that be too much for her? Just wondering if that could then be your day to go in office if you can negotiate to one day a week? 

Bluegreen143

@Sarahwithlove no, it’s nearly a mile each way, she doesn’t have a car and she’s not fit and healthy enough to walk that far (she’s in her mid 70s). 

Had a lovely night of “virtual” drinks with friends. Made me really miss actual drinks with friends! 

Bluegreen143

Not quite a NSD - £4 for Monkey’s pocket money. He was lucky as wanted a remote control car to replace one he’s broken recently. We found one on Amazon for £11.55 and between his piggy bank, wallet and the £4 I’d just given him he had £11.65. So it’s good as I was clean out of change but took all his when I ordered the car, and now have cash for next week’s pocket money again 😅

Dinner today will be roast chicken, stuffing, roast potatoes and veg. Lunch was tuna sandwiches, fruit and salad veg.

Spendless

Saw your news on another post, so came here to find you. So glad you decided to take it. Think you've done the right thing. It tokl me a long time to get back into the job market after having kids and I've yo-yed in and out ever since, including now. Your hours are good too. I used to have a job where I finished at 3, kids weren't even aware I worked unless it was the hols. When I went to f-time working I chose 8-4 rather than 9-5. It's amazing how you come to appreciate a 4pm or earlier finish time is 'afternoon' and still the possibility of fitting things in, rather than 5pm or later which feels more 'evening'. The 1 day off is good too, because that gives you scope to juggle appointments etc.

 I understand you feeling that you've lost your last year at home with Bambi, because I didn't return to day time working till my eldest was 10, I did everything with him. With daughter I missed over the years  1 sports day, 1 Christmas concert and 1 awards ceremony due to working. It came up in the last few days about it and DD only remembered the sports day and that's only because she remembers going to her friends mums house later. It clearly bothered me far more than her.


The other thing I wanted to say is you never know what point in life they're going to need you around more. My daughter became ill (mental health) aged 15. I lost my job a few months in when my workplace closed and didn't seek other work due to it. She's not completely better yet (at nearly 18) and it is part (not all) of the reason why I'm not currently job hunting. I'm fortunate that we can financially afford this.  Having some extra money when things are a lot more 'steady' so you can build savings or overpay the mortgage gives you more choices should life throw a curveball at you. 

joedenise

I was similar @Spendless - I was out of the workplace until eldest was 8 and then worked while she was at school - 9.30am - 1pm which worked really well as I used to drop her off at school at 8.45 and then get bus to work and was always there for the 3.30pm pick up.  Again, holidays were the only time it bothered her but DH did shifts at the time so often he'd look after both the girls.

I returned to work full time when she was 11 and again, like you worked 8am - 4pm.

Good luck with the return to work @Bluegreen143.  

Bluegreen143

Thanks ladies! I have the zoom interview tomorrow. The manager said it’s very informal/light touch so hoping it’s more a box ticking thing given it was her phoning me to ask me to apply! But I’m now nervous in case someone else has applied who is better since she spoke to me (as it was an active job ad open to others) which may have changed her mind!! Hope not. But then, if it doesn’t work out, I’m no worse off than I am now so no reason to be nervous really. 

@Spendless thanks for sharing your story, you raise such a good point about not knowing when you are most needed at home. Our intention is, if the job works out, we will save the vast majority of the salary. That means we know we can still afford to live off one income if anything happens. 

Bluegreen143

Got the job 🙌🏼 It’s so nice, she seems really excited for me to come back on board and I’ve already heard from another colleague too. Hoping to start maybe week after next but depends on their HR procedures, getting IT etc.

We also found out that Red is going to be mainly on furlough from today - he will remain on call for emergency work every second week, but emergency jobs are very rare. So effectively he will be a stay at home dad while I work for the next few weeks - a bit of a role reversal! Hoping childcare reopens before he comes off furlough otherwise it may be a bit trickier.

Had salary confirmed - £27,600 pro rata and it’ll probably be 70% of that I think based on 26 hours a week. So I’ve popped it into listen to taxman site and looks just under £1,400 after tax etc. Once you account for childcare (using tax free childcare and based on MIL doing a day a week and not going over Monkey’s free 30 hours a week) and pension contribution I’m hoping I’ll have around £1,000 a month - of course we won’t have any childcare cost to start but hopefully lockdown doesn’t last too long. Red thinks he ought to still get around £1,900-£2,000 a month for the moment as the extra on call money will offset the 20% furlough loss on the other weeks. So I’m off to do an interim budget and once we know childcare costs and Red is off furlough we can adjust the budget going forward.