I'm going to be a dad! Do I need to earn more????

daopdesign · Sep 23rd, 2011, 19:35 PM

one thing you will learn when you have kids is money doesn't matter

We do alright and don't want for anything, but that doesn't stop you always wanting the best for your kids

During my 20's I was money and career obsessed, urgghh when I look back I do not like that person, I am so much more happier now

Fathertobe1 · May 12th, 2012, 05:18 AM

Hello everyone, I have read through some of your posts which have been helpful to get an idea of how much people feel is a sufficient amount to look after a family.

I have recently discovered I am going to be a Dad!!

Admittedly the timing could be better, me and my girlfriend have just finished University and are both unemployed at the moment. I am however confident I will be able to secure a job to earn at least 18K by December when our baby is due.

Has anyone been in this situation where one partner has to stay at home while the other is earning less than 20K, if so how was it? I can live a without luxury I just want to know that I can make enough to get by. I'm determined to make this work, if i have to earn more i will find a way as I wont let my girlfriend down.

alchemy · May 12th, 2012, 22:53 PM

A lot. We make about $57,000 a year combined pre-taxes, then have almost $16,000 in non-taxable allowances for food, housing etc. Plus neither of us have to pay state taxes. But in two years we move again and I will no longer have my job, so we are using this time to pay off all debts, buy a new and reliable car and build a nice nest egg, because who knows what the job market will be where we end up next?

LockandKey · May 12th, 2012, 23:32 PM

I don't work

I am a SAHM and DH makes almost $100,000 a year, we are renting right now, but can easily put away $1,000 a month into savings, and that's after paying for about $400 for food, $15,500 in rent, cell phone water and electric bills, car insurance, car payment. Right now we are saving up to buy a house and pay for the move. After all those expenses are taken care of I will be wanting him to put away at least $200-400 a month to save up for the next baby, but with DH's health plan through work, we will not have to pay any hospital bills when I go into labor and get admitted

goddess25 · May 12th, 2012, 23:47 PM

Our combined income is about $120K per annum but it doesn't go very far here in Vancouver. I saved about $12k for each maternity leave and also got $1600 per month from the government for a year times 2 for mat leave. That just about covered out mortgage payment.

We don't have debts and don't splurge, we are getting by.

9jawife · May 13th, 2012, 00:17 AM

Between my husband and I, we make about $55K a year (not sure how much that is in pounds.) We would feel comfortable starting a family with that kind of income, BUT neither of us has health insurance right now, so that's something we want to work on. Because individual plans are so expensive, we're thinking the smartest thing to do is wait till I graduate from school and get insurance through my employer.

vikster · May 13th, 2012, 04:34 AM

We have a combined income of £85,000 which should go up in September when I get a pay rise. We have a baby fund pot saved up to use for buying things when we are pregnant which is a big help and also means that we can afford the iCandy peach that I want, ha! X

Mrs.Ladybird · May 15th, 2012, 12:43 PM

Joint Income of around £90,000-£100,000. We can easily put £2000 aside each month for savings. Haven't got any atm as we paid for our wedding ourselves and have been doing the house of over the last few months. x

toffee87 · May 15th, 2012, 12:59 PM

Bloomin hec, what do you both do? x

Elpis_x · May 15th, 2012, 15:26 PM

I am amazed at how much people on here earn.

Sep 23rd, 2011, 19:35 PM	#41
daopdesign Mum (Mom) Chat Happy BnB Member Join Date: May 2009 Location: UK Posts: 1,467	one thing you will learn when you have kids is money doesn't matter We do alright and don't want for anything, but that doesn't stop you always wanting the best for your kids During my 20's I was money and career obsessed, urgghh when I look back I do not like that person, I am so much more happier now

Status: Offline

May 12th, 2012, 05:18 AM	#42
Fathertobe1 Father to be New BnB member Join Date: May 2012 Posts: 1	I'm going to be a dad! Do I need to earn more???? Hello everyone, I have read through some of your posts which have been helpful to get an idea of how much people feel is a sufficient amount to look after a family. I have recently discovered I am going to be a Dad!! Admittedly the timing could be better, me and my girlfriend have just finished University and are both unemployed at the moment. I am however confident I will be able to secure a job to earn at least 18K by December when our baby is due. Has anyone been in this situation where one partner has to stay at home while the other is earning less than 20K, if so how was it? I can live a without luxury I just want to know that I can make enough to get by. I'm determined to make this work, if i have to earn more i will find a way as I wont let my girlfriend down.

Status: Offline

May 12th, 2012, 22:53 PM	#43
alchemy Waiting To Try (WTT) Active BnB Member Join Date: Apr 2012 Posts: 218	A lot. We make about $57,000 a year combined pre-taxes, then have almost $16,000 in non-taxable allowances for food, housing etc. Plus neither of us have to pay state taxes. But in two years we move again and I will no longer have my job, so we are using this time to pay off all debts, buy a new and reliable car and build a nice nest egg, because who knows what the job market will be where we end up next?

Status: Offline

May 12th, 2012, 23:32 PM	#44
LockandKey Mum (Mom) BnB Addict Join Date: May 2011 Location: West Virginia Posts: 3,732	I don't work I am a SAHM and DH makes almost $100,000 a year, we are renting right now, but can easily put away $1,000 a month into savings, and that's after paying for about $400 for food, $15,500 in rent, cell phone water and electric bills, car insurance, car payment. Right now we are saving up to buy a house and pay for the move. After all those expenses are taken care of I will be wanting him to put away at least $200-400 a month to save up for the next baby, but with DH's health plan through work, we will not have to pay any hospital bills when I go into labor and get admitted

Status: Offline

May 12th, 2012, 23:47 PM	#45
goddess25 Mum (Mom) BnB Addict Join Date: Jun 2008 Location: vancouver Posts: 9,304	Our combined income is about $120K per annum but it doesn't go very far here in Vancouver. I saved about $12k for each maternity leave and also got $1600 per month from the government for a year times 2 for mat leave. That just about covered out mortgage payment. We don't have debts and don't splurge, we are getting by.

Status: Offline

May 13th, 2012, 00:17 AM	#46
9jawife Pregnant (Expecting) Active BnB Member Join Date: Mar 2012 Location: Eastern United States Posts: 659	Between my husband and I, we make about $55K a year (not sure how much that is in pounds.) We would feel comfortable starting a family with that kind of income, BUT neither of us has health insurance right now, so that's something we want to work on. Because individual plans are so expensive, we're thinking the smartest thing to do is wait till I graduate from school and get insurance through my employer.

Status: Offline

May 13th, 2012, 04:34 AM	#47
vikster Waiting To Try (WTT) Active BnB Member Join Date: Feb 2012 Location: Cheshire, UK Posts: 483	We have a combined income of £85,000 which should go up in September when I get a pay rise. We have a baby fund pot saved up to use for buying things when we are pregnant which is a big help and also means that we can afford the iCandy peach that I want, ha! X

Status: Offline

May 15th, 2012, 12:43 PM	#48
Mrs.Ladybird Waiting To Try (WTT) New BnB Member Join Date: Apr 2012 Location: England Posts: 8	Joint Income of around £90,000-£100,000. We can easily put £2000 aside each month for savings. Haven't got any atm as we paid for our wedding ourselves and have been doing the house of over the last few months. x

Status: Offline

May 15th, 2012, 12:59 PM	#49
toffee87 Trying to conceive (TTC) BnB Addict Join Date: Apr 2008 Location: UK Posts: 2,503	Bloomin hec, what do you both do? x

Status: Offline

May 15th, 2012, 15:26 PM	#50
Elpis_x Waiting To Try (WTT) Active BnB Member Join Date: Jan 2011 Location: UK Posts: 844	I am amazed at how much people on here earn.

Status: Online

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