Minimum savings before trying

[x0emz0x]

How much do you think would be wise to save up before trying for a baby?

I'm hoping to save up atleast £5,000 in the next 1-2 years - about £200-£300 a month

I don't go out much really to spend a lot of money - the thing I spend most of my money on is probably petrol and my car insurance. I have my boyfriend's birthday present to buy next month - as it is his 21st, he is getting just a bit spoilt , and I'm hoping to pay off my argos card and catalogue by the end of next month too, so I'll be able to start saving up more money

 

[Lilly12]

I don't know in the UK, as Im in the US, but we've saved 12k so far..and we'll probably start trying somewhere next year.. I guess you can never save too much!

 

[booflebump]

I'm hoping we will have the equivalent of half my salary saved for when I am on maternity leave x

 

[missvikki88]

I think i will try to save around £6000 for everything that would include all the stuff and some money for when the baby's born. I know babies are expensive so the more you can save the better, but i also think that people manage with whatever they have. My friend found out she was pregnant at 5 months and had no savings etc... but she managed fine it just meant she couldn't get the exact pram she wanted etc.....
Soooo i'll be dusting off that piggy bank to save for a deposit for a house first

 

[Damita]

We are trying to save 7k, 5k for me being off a year and 2k for baby related items, plus we have already worked out with OH promotion at the end of the year, extra money from the government and the savings we will have a spare 800-900 a month for food and baby related stuff, I am a planner

 

[babyblog]

Hi hun, 5k sounds like a great amount. i think it depends what you are saving up for, whilst babies do cost money i am finding it is the time off of work which is hard bit. We spent around 1k on nursery bits, and got the first 6 months of his clothes as gifts luckily. We boguth nursery bits as we went along out of our wages, you could do that-then use the 5k to help with mat leave, but i wouldn't have thought you would need all that if you are entitled to mat pay anyway? x

 

[maybabydoll]

Some articles I found interesting here...

https://www.guardian.co.uk/money/2010/feb/23/raising-child-money-saving-tips
https://www.guardian.co.uk/lifeandstyle/2009/mar/21/baby-budget

Apparently "The cost of raising a child now has topped £200,000, and according to friendly society LV=, and in the first year alone an average little one will set his or her parents back £9,152." Sounds high to me, as a lots of savings can be made by using second-hand goods x x

 

[Chris77]

When DH and I were WTT, we saved up 6 months to a year of my salary. This way, in the event that I needed longer than the 3 months maternity I'm allowed, we'd still be okay financially.

 

[Pinkgirl]

This thread is very useful girlies.
I would love to be able to go back to work part time after starting a family...this is a dream of mine. OH is trying to work his way up the ladder at work, bless him, so that he can support me when the time comes.
I guess i want to have enought money to decorate the nursery, buy quality furniture, by the baby items i dream of buying, and being able to buy my baby what it needs. I would love to take a year off work so would need to money to cover this. so i guess we hope to save around 1/3 of my salary
x

 

[x0emz0x]

Hi hun, 5k sounds like a great amount. i think it depends what you are saving up for, whilst babies do cost money i am finding it is the time off of work which is hard bit. We spent around 1k on nursery bits, and got the first 6 months of his clothes as gifts luckily. We boguth nursery bits as we went along out of our wages, you could do that-then use the 5k to help with mat leave, but i wouldn't have thought you would need all that if you are entitled to mat pay anyway? x

Hiya hun Yea I should think around 5k would be enough, but you can never have enough money eh! I think I'm gonna try and save up a bit more, as I'd love to take a year out of work when the time does come xx

 

[Amygdala]

I'm hoping we will have the equivalent of half my salary saved for when I am on maternity leave x

We're trying to do the same, as I don't get mat pay. Additionally we'd like to have about 2k for baby stuff and unforeseen expenses.


About the report that says babies cost you nearly 10k in the first year: surely that's mostly made up of missed income and extra expenses for living. I'm sure people actually spend a lot less. You just have to make sure you live within your means from the start but I'm convinced if you can support yourself as a couple you'll be able to fit a baby in no problem.

 

[Damita]

We do the same, we want 2k for unforeseen expenses too, glad to see I'm not the only one that has this fund