How does everyone else manage?!

[LynAnne]

Gah! I'm feeling like we'll never be financially ready to have children. I don't know how we'll ever afford to raise them and totally getting me down! Our income is pretty tiny even for the two of us and the pay rise we had been hopeful of DH getting in the new year is only going to equate to about £350 more the whole year. Not nearly enough for a baby! I'm UK based so it's not as if I need to pay medical expenses - I don't know how others manage!

How does anyone afford them?!

 

[aimee-lou]

We dont lol!! Not many people can wholly afford a child, but you make it work. There is never a good time to have a child.

On the flip side children aren't entirely expensive and you just get by with whatever your circumstances dictate. Life changes when you become a parent and priorities change too. I would suggest saving as much as you can for 2/3 months to see what the minimum you can live on us and how much you can save.

Also you never know what the future may bring....embrace that fact. You could save for one child and end up with 2 or3, or need ffertility treatments that will blow the budgets. Your job may change, or your health, or your circumstances could change suddenly for the better or worse.

I'm not saying to throw caution the wind and go for it now, I'm just saying to remember that nothing us for certain and you need to do whats right for you as a whole, not just for your bank balance.

Good luck x

 

[Earthylove]

unfortunately I can't advise on how to mange since, I don't have any kids yet. but i just wanted to say i hear you! Our combined income is pretty tiny right now too. In a few weeks, we should be finding out if my husband gets accepted to a higher paying position, but if not, its back to the drawing board for us! We're just praying that it works out with this new position or that he is able to find a new job with better benefits.
I look forward to hearing what advice the others have!

 

[Kitteh_Kat]

I've found that having a child has been less expensive than I was expecting, and we did formula/disposable diapers/etc. We also went from two incomes to one so I could be a SAHM. We're not rolling in the wealth, but bills are paid and we have enough to spoil our daughter and do fun things. To help minimize expenses I coupon/shop deals, buy things second hand when I can, and take advantage of all the military perks like the provided housing/insurance/tax free items/etc. You find ways to make it work!

 

[LynAnne]

I wish someone could convince DH that kids don't have to be expensive! I think he sees how spoiled (in a nice way) our nephews are and thinks we have to be able to do the exact same for ours. To be honest, I don't want to raise my kids doing every single club going or getting what they want when they want it. I think being taught the value of money from a young age is good.

I want to sit down and calculate roughly how much a baby would be and if we'd get tax credits. NOT that I want a baby for the extra money but it would be good to know. How much a month approximately does a baby even cost? If on formula and disposable nappies?

 

[aimee-lou]

£10 a week for formula for the first year. Nappies depends on brand but you average for 6 a day (more like 10 in the first 6 weeks) and they're roughly 12p each. I budget £7 a week on nappies for my 2 youngest but i buy the value ones in the daytime as they're cheaper.

Roughly child benefit should cover the very basics (£20 a week) of food,nappies and any extra clothing you may need. The initial outlay I'll agree can seem a lot but we asked people for mother care vouchers as gifts and many people gave us clothes and small buts if equipment. The big outlays are the pushchair, bed and car seat. You don't necessarily need fancy equipment like swings and all singing video monitors, and most things can be bought used or gifted from friends or relatives as hand me downs. You also need to view things as an investment. They may get used multiple times....all 3 of my boys have used the same clothes, car seat, cot and even towels and blankets. We're also still using the same push chair we had for ds1, who is now 5!!!! Lol. A lot of things keep their value too so if you do just have one, resale is an option.

Hope things start to look better soon x

 

[ottergirl]

Kids don't *really* care about being spoiled. They just want love and a little magic We had 3 while we were both in school full-time. The little ones aren't as expensive as you'd think, honestly. I breastfed and did cloth diapers. We buy clothing second hand when we can, or just find good sales. When they get older they will be a bit more expensive but if we really really need extra funds, they will be in school and with my degree I can get a job. No biggie. Don't sweat it when they're young. Kids just want to read books with you and do crafts and play outside. Expensive toys are only captivating for a short time!

 

[meg_bellamy]

I am worried as well about finances... sol I understand! I mostly don't understand going from two incomes down to one, and we are both on average/ low incomes. We save 1/3 of our income but we couldn't survive just on DH wages. We we will be saving saving saving while I am pregnant. I should be able to stay home for a year then go back 2 or so days a week. We will be buying most things second hand and living frugally so I can stay home as long as possible. Babies don't need expensive things, they need food, warmth and love You will make it work.

 

[sherwood]

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