How to have a baby without making debt?

arthur_dent_2

I am not entirely sure that Missbee has grasped the whole concept of being happy and having very little money.

RHYSDAD

I wish you luck but find it astonishing that on a combined income of 53k, you are struggling to work out whether you could afford a baby!!??!!
Jeez, our income is half that, we have two boys and have a pretty fab life. Admittedly our rent is lower than a mortgage would be, and so confirms my belief that a mortgage isn't for us. All that money, all that stress and on 50k plus you would struggle to afford the most priceless gifts nature can afford?! You can keep your home ownership, what a waste of bleedin money....ha ha ha.....

bandraoi

arthur_dent wrote: »

I am not entirely sure that Missbee has grasped the whole concept of being happy and having very little money.

I think that's incredibly unfair.

From what I can gather, Missbee lives in London or thereabouts. Currently they have a joint income of £53,000 per year, which is £26.5K each. If you live outside London that may sound like a huge amount, but being based in London, I've found that on anything under £25K a year you feel very poverty stricken.

To live somewhere that a normal person would like to live, and get to and from work £800 of your salary is likely to be gone. That's not a one bed flat and a car, that's a house share and the tube. Everything else, from food shopping, to transport outside your tube fare, to a pint in your local pub will also be more expensive than in the rest of the UK.

Criticising her for thinking twice about supporting two adults and a child on her husband salary of £22500, is a bit much in my opinion. That's not about being happy on very little money, that's about not being made bankrupt.

matimage

I am reading this with interest and have a connected question. My 33 year old wife is expecting our first baby in June. We have already agreed that I am going to stay at home and she is going to be the breadwinner. I have the ability to earn money from home, she doesn't.
Anyway, a lot of you mention tax credits, benefits etc. How do I go about seeing if we are eligible for these and how do I get the ball rolling?
P.S. To the OP, everyone told me that you can never afford a baby and there is no right time. If you did wait for the 'right' time, it would never happen. You just get on with it. Fingers crossed!

arthur_dent_2

bandraoi wrote: »

I think that's incredibly unfair.

Criticising her for thinking twice about supporting two adults and a child on her husband salary of £22500, is a bit much in my opinion. That's not about being happy on very little money, that's about not being made bankrupt.

Ok perhaps a little unfair, but I don't retract what I have said, children are not about money. The lower salary would not be for that long and most houses have more than enough in them to survive for 6 months or so on a reduced income.

London coucil tax is no more expensive for a band D than mine is for my band a property and I am absolutly certain that the transport links in london are better. I cannot drive so I do know what it is like taking a baby on a bus. Water Gas electricity are no different wherever you live and pound stores or bargain shops exist everywhere. Rents/Mortgages are ridiculous but as I pointed out earlier the reduced income is only for a while. Childcare costs are subsisised.

OK so maybe I was a little mean but living in London once you have factored out the mortgage or rent costs is no dearer than anywhere else.

affordmylife

missbee - have you thought of listing your expenses i.e the £1900 for mortgage and basics and perhaps we can see some way of cutting back for you.

i truly is possible it just depends what your dreams are.

swiss69

To help from a financial point of view, it would be helpful to know how large the mortgage is, whether you have any equity in the property and what fixed rate you are paying? Also do you have any loans and if so what is the balance and monthly amount you currently pay.

Any clues?

Ps dont rely on your hubby to give you the ok on when is the right time financially - some men are not always as keen to have babies as you think (And I should know as a man!)

Sarahlouz_2

I do agree that the OP should be able to afford at least 1 child on a joint income of £50k+. As others have said the drop in income would hopefully only be for the short term .. but I do think people on here are very quick to judge other people. In some parts of the Country some people don't have a choice but to have a big mortgage. Affordmylife says they brought their house for £205k three years ago and have a £600 a month mortgage. All I can say is you are very lucky. I live in one of the most expensive places outside of London and our rent and mortgage (shared ownership) is just under £1000 for a 2 bed flat and even 15/20 miles outside of city is too expensive for us to afford anything and we don't earn bad money, combined income of £48k. I have worried in the past about being able to afford a child but now I have got past that to a certain extent and would like to have one in a couple of years and we will afford it somehow. It's just unfortunate it's such a struggle these days and those that seem to benefit most are always those that haven't worked for it or planned or waited to have a family. I think there is a lot to be said for not trying to plan too much and just seeing what happens!

affordmylife

but can you see that £600 a month on a £30,000 (and five kids) annual income is just as difficult to manage as £1,000 on £48,000 income with no kids.

its all relative really.

arthur_dent_2

affordmylife wrote: »

but can you see that £600 a month on a £30,000 (and five kids) annual income is just as difficult to manage as £1,000 on £48,000 income with no kids.

its all relative really.

In fact in financial terms you (afford my life) are much worse of. Emotionally however I am guessing a lot better.