Pregnancy & Birth Clubs <
08/04/2013 at 15:24
I mean this in the most respectful way possible, but I really don't understand how people manage to have a baby and way for there bills ect.
Me and my soon to be husband would love to start a family but I work in a school and only earn around 800 a month and his wage alone wouldnt pay the bills and mortgage ect. My concern is that after maternity when I go back to work, I will have to pay for child care which ive worked out at around 700 / 750 based on what friends pay and it kind of makes me think Id be paying out my full wage for someone to look after my child whilst i go look after someone elses. We've looked at the possiblilty of my husband being sole provider until the baby starts school but either way his £1000 a month wage wouldn't cover everything.
I see so many people doing it .. i just cant see how they manage. Can anyone explain how they have coped?
Thank you :)
08/04/2013 at 15:33
Basically we have cut right down to essentials i.e. we don't have any TV subscriptions or mobile phone subscriptions, we haven't been abroad for 5 years, we don't buy any new furniture or redecorate (except when the TV broke down, we did replace it, got to have something to do!).
It 'helps' that we don't have any family living nearby so we rarely go out in the evening, and never together, for the last 7 years, since no1 child was born.
The end is in sight for us now as it's only 18m until no3 goes to school. By then we will have spent roughly £40k on childcare, phew, scary when you add it up!
08/04/2013 at 15:34
Oh and we only get new clothes at Christmas when MIL feels sorry for us!
08/04/2013 at 15:37
Um, you just do I guess. I mean, we looked at our finances and worked out how long I could go on matenity leave. Luckily my work has a nursery which is cheaper and I've gone back part time. If we have more children I don't know how we can afford childcare.
Don't forget you will save money as your lifestyle will change, you won't go out as much. Babies don't have to be that expensive, they just need a pram, somewhere to sleep, nappies and clothes. If you can breastfeed then hat's a bonus. All supermarkets sell great value vests and babygro's and their own brand nappies. I never saw the point in buying clothes from say, Next that he would just puke on.
You just have to budget and shop differently. But I do think that unless you win the lottery (here's hoping!) you can never be financially ready for a baby. Have you looked into costs of nurseries vs childminders? Kids get some free hours when they are 2-3 I think.
08/04/2013 at 15:40
Well I guess we earn more than you to start with so that helps (meant in a respectful,not boastful way!) but I guess its all relative in terms of outgoings too (ours are quite high).
I have a good maternity package in that I get half pay for 6 months, and we need to save a little to see us through month 7-9, I'll then go back to work, cant afford no pay at all! I hope to go back 4 days in which H will have baby for one day, sister one day, MIL one and nursery one day.
It'll be tight on ML but we'll just have to cut back on luxuries.
08/04/2013 at 15:50
i don't have to pay for childcare. If i did, then i don't know how i would cope. Thankfully my mum doesn't work, and so on days when H and I are both at work then she had them.
We probably do ok for money too because we aren't as frivellous as we used to be. H and I used to nip for weekends away, or go out more regularly for meals etc. When you either have to get a babysitter, or go with the children, we don't do it as often.
08/04/2013 at 15:51
We're lucky, in that H earns enough to cover all bills. I'm a SAHM, as it's cheaper than Having a childminder. If he didn't earn as much as he does, we wouldn't be able to afford our 4 kids at all.
Would using family members for childcare be an option?
08/04/2013 at 16:02
On those wages you may well be entitled to some benefits, child tax credits possibly and maybe some others. You'll get child benefit too which is about £80pm for the first child.
We earn a bit more than you but also live in London and have a biggish mortgage and have found it's been possible as my job pays great maternity benefits (4months full pay and another 5months on SMP).
If you go part-time it can often work out quite well because if you work say 50% of your previous hours, you'll get paid more than 50% of your previous wage because you'll be paying less tax. If you want to keep a foot in the door/want to keep working then you could look at part-time hours.
It's also worth saving as much as possible to provide an extra cushion for the few years when you need to pay childcare.
08/04/2013 at 16:07
We earn about the same as you and are currently TTC'ing. We've worked out I'll need to go back to work as soon as SMP ends (but 4 days instead of 5) and my partner will have baby 2 days a week and my parents the other 2 days.
I have always worked in childcare which was good for us, with number 1 I worked in a nursery so got half price childcare fees then I worked in a school when he started school and became a nanny when I had number 2. now I'm a childminder which is good as we have no 3 on the way so couldn't afford all the childcare to do something else! Obviously this works for us as I've always worked in childcare as you know working with children isn't for everyone. H works full time so I've just got to get through my maternity leave (self-employed so only get MA) by saving and crimping for a couple months. The parents of the children I care for all use childcare voucher schemes through there work which are worth looking into.
08/04/2013 at 16:08
scrimping not crimping!!
08/04/2013 at 16:09
I think you just have to cut right back and manage.
Tbh I know I'm not ready to TTC as I don't want to cut back or give up work.
08/04/2013 at 16:13
We've had to borrow money to cover while on maternity as I was originally only going to have 4 months off but as b arrived early I didn't have those last few months of work to save and am not ready to go back while he's still so small so we had no choice but to borrow money to help support us
08/04/2013 at 16:46
we are cutting right back on everything. hubby will be a near enough stay at home dad because I earn more it doesnt make sense for me to be a stay at home mum. when he is in work my parents will look after C. As me mam says if you waited until you could afford a baby you would never have 1 lol x
08/04/2013 at 17:23
Honestly I don't know. H earns much less than me and I'm only entitled to SMP. We are being as frugal as possible and watching every penny. We will just see what happens I guess. If it gets too bad I may have to return to work sooner than the year I would like. We may even look to switching mat leave to H. When I do go ack I will do 4 days so will H so we only need to cover 3 days. And I'm hoping between my mum and mil we can d t without childcare costs.
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