When to start a family? Can we afford to?

do_it_today!

Hi all :hello:
Lets keep calm and help the poster with her request, I think the plan to move out, live together and rent somewhere is a very good one - perhaps see if you can get a better/ less physical job now or (a short course to boost you prospects) and plan to get pregnant towards the end of next year.

Being with someone can be quite different to living with them and having time together to adjust is always good. A quality place to live is more important than having a mortgage on somewhere you can just about afford.

good luck :j

Spendless

affordmylife - you should also be entitled to tax credits, and should claim if you're not currently doing so. The 'family element' of tax credits is roughly £10 a week. Have a look at https://www.entitledto.co.uk

The OP may also like to play about with figures on the site

mariagti

Thanks everyone,:D You've all been so much help in deciding what to do, I shall put my broodyness to the back of my mind until end of year, and focus on getting a better job so maternity would be no problems and renting a love nest:rotfl: to make sure me and OH can live together.

affordmylife

spendless - thanks. ive been on entitled to and yes we do qualify for the £10 a week either if we continue as we are or if hubby stops overtime and i give up work. there is no difference whatsoever.

but as we were overpaid several years ago we are still paying back thousands that we owe from then and get nothing.

so we either live on £20,000 a year or we live on £35,000 a year all of which earned by both of us. bit of a no brainer really.

but thanks for the suggestion.

mariagti - sorry for hyjacking your thread. you enjoy yourself trying and hope it all works out well for you both xx

continualdiamond

I just wanted to add my thoughts to this as well. Im 26 (F) and OH (fiancee) is 25. We've been together since we were 19 and have no plans what so ever to have children at the moment.

We moved in together in 2004 and rented for 2 years, then in Oct 2006 we bought our 1st property. Where both concious of our age, myself especially being 26. We both want children, but know where not at that stage of our lives yet.

Last year i went through the thing of, god im 25, but i cannot afford to have children, i'll have to wait. But like many people said, you'd wait forever. So now we've decided to not think about it and not feel pressured just because of a number (age) and that one day, suddenly we'll both know when the time is right to start having a family.

mischiefmaker

I had my first child at 21, (was married with our own house, i know we were lucky!) I had the second at 23. Money was tight but then I think whatever you earn you tend to live up to that income. My suggestion would be to rent a property and see if you can live on your partners income only for a year first.
If we all thought about it too much no-one would ever have kids because you can never truely afford them you just make do and get on with it. Have fun practising in the meantime!:rotfl:
What you would also need to think of is whether you will be planning to return to work afterwards, if so then you would only be having to live on Dad's income for a short while.
Good luck.

waddy80

Thought I would reply with my situation also.

My BF and I are starting to try for kids, and I have to say that money is something I have considered a lot.

Both of us are 27 earning approx £20k per year each, own our house with approx £100k on mtg, usual debts (all on balance transfers or low interest). 2 years ago I changed jobs from a family run company to a major national company, a major consideration in this was the better maternity pay etc. I knew that in the next few years we would want to have kids and needed an employer which would support me in that. My employer will take me back part time, where as my old employer wouldn't have considered it.

Both of us had said we would like to get married before kids, but 4 years later it just isn't important to us. I can't see me finding the money for the sort of wedding I'd want, and would rather see where life takes me. We had also said that one of us would stay at home with any children we had, but looking at it now, that just wouldn't happen. I'm not sure we could afford it.

I have also checked what sort of benfits I would be entitled to, I am the sort of person who gets as much info as possible, and I see nothing wrong it that attitude.

And who knows I might win the lottery!!!!!

merlinormartin

My other half and i are both 24, we have been together since 14 .. lived with my parents aged 17 - 22 then moved 200miles away into a rented property. I felt 24 was still to young, but after reading this thread im not so sure :rolleyes: ... I think you should continue saving and move into a rented property asap, see how it works out living together and if things are still good after 12months, then start trying

Good Luck!