Advice for expecting, 18yo parents?

hyundai2005

Hi all,

As title reads GF of one year is expecting in roughly 8 months.
In the scenario that we go through with it would kindly like some advice.
We are both in distance learning Uni graduating in 2025 & 2026, aged 18 & 19

My income: £1750/pm, taking second job which will bring to £2300 take home.
My savings: 25K cash no debt
Her income: £700/pm (2 days a week)
Her savings £4K cash no debt

Total monthly income: £3000PM
Total savings: £30K

Hypothetical Expenses: 
Fuel & Insurance - £200PM
Groceries - £150PM
Entertainment/Days out - £200PM
Nappies & baby items - £150PM
Sundries - £70PM
Gym - £30PM
House - Will move into parents second home, utilities paid for 
Babysitting - Provided by parents 

Total: £800PM 

There's probably far more expenses that are yet to be accounted for but main things like Rent & Childcare are covered is a big help financially. 

We aren't big spenders however we often go on short holidays or day trips which would still be possible so we can still have somewhat of a life

This is obviously quite a dire scenario which will consume a good portion of our lives and cause plenty of stress however I feel its her choice to pick what happens and morally speaking I should support her in that scenario.

Any advice appreciated, thanks for reading! 

Stateofart

For your age, your income is high, plus your accomodation is sorted so it look like you've got a great start.  I would start to think about your own home at some point.

sheramber

You will find priorities will change when the baby arrives.

A trip out or to the gym is not so appealing when you have been up during the night for feeds and/ or  with a crying baby. 

sk2402005

A lot of the cost is up front unless you buy second hand, prams, buggies, cots, car seats etc will cost £1000+ dependign on what you choose.

Organisation is key, you need to be really prepared, and the amount of kit you need is crazy.

All of that kit then means you need a bigger car! certainly for the first 3-4 years, especially for your planned trips.

As mentioned, Gym membership may as well get cancelled

As you are earning reasonable money, i would expect to be paying some form of rent and for the unilities to the parents, whist this is a money saving forum, you shouldnt freeload of their generosity.

Studying for your degrees is going to be really hard work whist caring for a child, its a huge test of anyone, it can easily break you.

Sorry to be so blunt, but you will have very little (no) life for a good while juggling the baby, uni and work.

thegreenone

hyundai2005 said:

Hi all,

As title reads GF of one year is expecting in roughly 8 months.
In the scenario that we go through with it would kindly like some advice.
We are both in distance learning Uni graduating in 2025 & 2026, aged 18 & 19

My income: £1750/pm, taking second job which will bring to £2300 take home.  Your income between you is extremely good.  If you take the second job, save as much as you can whilst partner is on maternity leave and reassess when baby is born.  Spending more time working and away from mummy and baby may not be a good idea.  Although, I totally salute you for stepping up to the mark.

My savings: 25K cash no debt  Wow!  

Her income: £700/pm (2 days a week)  Can you rearrange your working days so you have baby two days to avoid childcare.  It will be tough (got the t'shirt!) but worth it.

Her savings £4K cash no debt  Second Wow!  your savings are off the chart for your ages.

Total monthly income: £3000PM
Total savings: £30K

Hypothetical Expenses: 
Fuel & Insurance - £200PM
Groceries - £150PM  £200pm
Entertainment/Days out - £200PM  £100pm
Nappies & baby items - £150PM  £200pm
Sundries - £70PM
Gym - £30PM
House - Will move into parents second home, utilities paid for How much do your parents want for rent?
Babysitting - Provided by parents 

Total: £800PM 

There's probably far more expenses that are yet to be accounted for but main things like Rent & Childcare are covered is a big help financially. 

We aren't big spenders however we often go on short holidays or day trips which would still be possible so we can still have somewhat of a life

This is obviously quite a dire scenario which will consume a good portion of our lives and cause plenty of stress however I feel its her choice to pick what happens and morally speaking I should support her in that scenario.

Any advice appreciated, thanks for reading! 

It's not a dire scenario, unless you feel trapped.  We had our children when I was 25 and 26; been through having very little money and now we've been mortgage free for a number of years and have as many holidays/day/theatre/cinema trips as we can.  Good luck.

Savvy_Sue

Holidays: our first holiday was with friends, to a self-catering cottage, and I realised that a holiday was now doing the same things (feeding, burping, changing) in a different, less convenient location. And 'going out' was a bit of chore when SOMEONE has to think about and bring all that's needed. And that someone was me. 

So if you could support by doing at least some of the thinking and preparing, it will lighten the mum's load and make all your lives easier. So, nappy bag is prepped and ready - you come home, YOU take the dirties out, put clean ones in, find clean clothes, check the supply of dribble cloths etc, bag is good to go again immediately. 

We survived! 

Jude57

It's very sensible to be thinking of the practicalities, whatever you end up doing. A couple of things spring to mind:

Are the parents who own the house you'll be living in going to cover Council Tax? Because as residents, whether paying rent or not, you'll be legally liable for Council Tax. It's a significant part of anyone's budget and as much of a priority as rent or mortgage because there can be severe penalties for non-payment. The Council won't be interested in your private arrangement with parents because, as adults over 18 and resident at the address, it's you they'll pursue if for some reason the parents don't/can't/won't pay it. If you're going to be paying it, there's some information you'll need to know. To get an idea of how much it is currently, you'll need to know what Band the property is in. See here:

https://www.gov.uk/council-tax-bands

Once you know what Band, check the local Council's website where you'll find the charge for the current financial year. From 1st April 2024, a new bill will be issued for the new financial year. The Council won't yet have set the Council Tax for 2024/25 yet, that usually happens in March each year, but it's certainly going up, as is everything else. Council Tax is generally payable over 10 months, April to January but you can opt to pay it over 12 months. I'd recommend setting up a Direct Debit so that it's paid on time every month and you don't need to worry about it.

Who's going to insure your belongings at the new address? The parents will be paying the building's insurance but the contents, such as furniture, appliances, electronic goods, clothes, shoes, sports equipment etc need to be covered so look into that, too. Imagine having to replace every single thing, from your toothbrush, underwear, right up to an expensive watch or mountain bike. 

In terms of budgeting, I'd recommend you head over to the Debt Free Wannabe board where there are links to budgeting formats which include lots of things that often get overlooked, for example, haircuts, dental treatment, public transport, clothes for the adults, activities for the baby such as soft play etc.

Good luck to both of you, whatever you decide. 

littlesparrow11

In my previous job, I knew many young parents, some younger than you and they were absolutely great parents. You don't need loads of kit at the beginning. Take up offers of help, get second hand stuff, try and encourage breastfeeding for the first few months ( formula is expensive) .You do need to be organised especially if you want to study but lots of people have done it and you sound pretty organised already. It will be a big change but I know many parents older than you who have struggled. Have confidence, the baby will bring you worries but also joy and love. Good luck to you all

lika_86

hyundai2005 said:

Hi all,

As title reads GF of one year is expecting in roughly 8 months.
In the scenario that we go through with it would kindly like some advice.
We are both in distance learning Uni graduating in 2025 & 2026, aged 18 & 19

My income: £1750/pm, taking second job which will bring to £2300 take home.
My savings: 25K cash no debt
Her income: £700/pm (2 days a week)
Her savings £4K cash no debt

Total monthly income: £3000PM
Total savings: £30K

Hypothetical Expenses: 
Fuel & Insurance - £200PM
Groceries - £150PM
Entertainment/Days out - £200PM
Nappies & baby items - £150PM
Sundries - £70PM
Gym - £30PM
House - Will move into parents second home, utilities paid for 
Babysitting - Provided by parents 

Total: £800PM 

There's probably far more expenses that are yet to be accounted for but main things like Rent & Childcare are covered is a big help financially. 

We aren't big spenders however we often go on short holidays or day trips which would still be possible so we can still have somewhat of a life

This is obviously quite a dire scenario which will consume a good portion of our lives and cause plenty of stress however I feel its her choice to pick what happens and morally speaking I should support her in that scenario.

Any advice appreciated, thanks for reading! 

Are you living together now? If not, I'd move in together asap. Adjusting to living with someone is tough enough before throwing a new baby and frayed, tired parents into the mix.

silvercar

sk2402005 said:

A lot of the cost is up front unless you buy second hand, prams, buggies, cots, car seats etc will cost £1000+ dependign on what you choose.

Organisation is key, you need to be really prepared, and the amount of kit you need is crazy.

All of that kit then means you need a bigger car! certainly for the first 3-4 years, especially for your planned trips.

As mentioned, Gym membership may as well get cancelled

As you are earning reasonable money, i would expect to be paying some form of rent and for the unilities to the parents, whist this is a money saving forum, you shouldnt freeload of their generosity.

Studying for your degrees is going to be really hard work whist caring for a child, its a huge test of anyone, it can easily break you.

Sorry to be so blunt, but you will have very little (no) life for a good while juggling the baby, uni and work.

This seems a very negative post.

The upside is that your kid(s) will be off your hands when you are a younger age, giving you time to enjoy yourselves when you are still fit and healthy. You will also likely be more relaxed as parents. Also, when your kid starts nursery you will meet more people in your circumstances, age tends to matter less as you get older.

Slinky

Regarding council tax, I don't think that will apply if all adults in the property are students.