money / credit crunch / ttc

[Mrs Doddy]

Hiya

We have planned to start ttc in Feb 09. We both have overdrafts to pay off, the house to decorate and the carpets to replace so realisticly we will have done this by september / october - we then need to save for the future and for baby stuff.

While I am happy to ttc during this time and want to have a baby asap I am worried that if it does happen straight away then we will have no money - ok the house stuff isn't the end of the world but having money incase something goes wrong is important as we have a large mortage.

Neither of us are in the most secure of jobs as I work in the lettings industry and H delivers beer/drinks and would get into real trouble if one or both of us lost our jobs. I am wondering though if the credit crunch thing is as bad as they are making it out to be ???? are things really that bad - if you have a job then surely things aren't that bad ????

Guess what I am trying to say / ask - would you hold off ttc for the moment till you knew you were secure or try anyway as you never know how long it is going to take to get pregnant

I know that realisticly there would be ways round things - have you got a rainy day account ????????

 

[cazd]

Hi you!
Well you know what they say.... There's never a good time to have a baby...
But you just kind of muddle through.

We run our own business (vehicle signwriting) and depend on the economy being strong.
We had the busiest month of the year this December - We haven't seen a slow down at all. But then it could be 'cos our market is quite specialist. So far as I can see... people are still spending money.
I think its the luxuries businesses that'll find it hard - holiday companies, designer fashion etc. You're lucky that people will always need somewhere to live and there'll always be a need for beer!

My OH wanted to wait 'till after our 3rd year of trading - to be sure that we were secure financially - but it could take that long to get pregnant.
And anyway... even if you got a BFP straight away... how much can a tiny baby cost!!!!
(well... at least if you can b/feed for 6 months - you won't have to pay for its food for 18 months!)

Of course... I'd broodily say all that - but we do have a rainy day fund of £10k - enough to get us by if it all went wrong. I've just got blind faith that no matter what happens... we'll be OK.

Its a bloody huge thing to take on though - another life to care for and nurture.
All the time I wanted it and my OH didn't it wasn't really real.
But now he's given us the green light - its a bit too real.

I can completely understand where you're coming from - but when is the right time?
When you've saved up money for one thing and fixed the decor... there'll always be something else... and you could end up putting it on hold forever...

 

[aimee-lou]

This is a really good question.

We are in a pretty similar situation. We have a large amount of debt (well, not large compared to some but it's enough to make life uncomfortable) from previous lives. We have 19 more months and will make our final payments in August 2010. We know that while we are paying these we cannot afford a baby (well we could probably 'make do' but we don't want to do that).

With jobs, I'm not in a secure position as I work for a charity and if my performance falls then I'm out of a job. Hubby is a bus driver so he's really secure but we don't want him to do that forever. We have said that once the debts are gone we will be able to afford a baby and we will take it from there. Hubby to go to Uni (student loan company!) and me to go on Maternity (SMP) would actually cover all of our outgoings ex-debts so it makes sense.

I think people have to weigh up the pros and cons to each situation. For us, we would like to buy a house but we know that realistically we cannot do this for another 5 years, so we've decided that we will do this once the babies are here. Renting is ok at the moment. The debts will be gone so we will be able to actually get a mortgage which helps lol.

We believe that we just need to be in a stable position. You never know what's going to happen but if at that time, things are right, then it's time to bring a life into the world. A couple of people in our family have had children in worse circumstances than us and they are fine. We know that no matter what happens, we will survive, and survive well surrounded by support and help.

 

[Mrs Doddy]

Hiya

Thanks for the reply

I totally know that there is never a good time and I guess possibly a little nervous that as the time to ttc gets closer we have no money behind us if the washing machine dies or god forbid one of us looses our jobs - it would be worse if it was H as I don't earn enough to cover everything.

I am making H give me some money each month to put away - isn't much at the moment and I can't help until my overdraft is paid off, have asked SIL for an Argos voucher for Christmas which I will hide away to be able to buy baby things - think I might ask this for my birthday in the summer too.

I don't really want to postpone ttc as we never know how long it might take - so guess we will just have to run with it and save as much as we can

See you in ttc in Feb !!!!

 

[cazd]

Yeah - go for it!!! Freecycle looks fab for baby stuff.
My friend picked up a fab - brand new push-chair from there!

 

[Bubby]

Something that I always think about when I worry about money is that women have been raising healthy babies since the dawn of the human race and they didn't have jumperoos or whatever the latest "must have" is so all those expensive things can't be that essential!!

 

[Mrs Doddy]

This is a really good question.

We are in a pretty similar situation. We have a large amount of debt (well, not large compared to some but it's enough to make life uncomfortable) from previous lives. We have 19 more months and will make our final payments in August 2010. We know that while we are paying these we cannot afford a baby (well we could probably 'make do' but we don't want to do that).

With jobs, I'm not in a secure position as I work for a charity and if my performance falls then I'm out of a job. Hubby is a bus driver so he's really secure but we don't want him to do that forever. We have said that once the debts are gone we will be able to afford a baby and we will take it from there. Hubby to go to Uni (student loan company!) and me to go on Maternity (SMP) would actually cover all of our outgoings ex-debts so it makes sense.

I think people have to weigh up the pros and cons to each situation. For us, we would like to buy a house but we know that realistically we cannot do this for another 5 years, so we've decided that we will do this once the babies are here. Renting is ok at the moment. The debts will be gone so we will be able to actually get a mortgage which helps lol.

We believe that we just need to be in a stable position. You never know what's going to happen but if at that time, things are right, then it's time to bring a life into the world. A couple of people in our family have had children in worse circumstances than us and they are fine. We know that no matter what happens, we will survive, and survive well surrounded by support and help.

Something that I always think about when I worry about money is that women have been raising healthy babies since the dawn of the human race and they didn't have jumperoos or whatever the latest "must have" is so all those expensive things can't be that essential!!

Its not so much the baby things that I am worried about - its more the fact that no job is guaranteed in the current climate and how we would cope as a family if either of us lost our jobs

 

[Dream.A.Dream]

My opinion on this is that obviously it's best to be as stable as possible. But no matter how long you wait you could always wait until you have more money. People fall pregnant by accident all the time and they manage xx

 

[Caroline]

I think if the worst came to the worst you would get by.

The food budget would have to be cut back to basics, and no spending on luxuries ( in our house thats DVD's & games).

I try & build up savings for ML but only take 6 weeks on higher rate, 2-4 weeks on lower rate, then take 2-3 weeks holiday, then its back to work.

Its tough but as its only me working & OH @ home with the lo's there is no other option.

I'm sure everything will work & remeber once you are pg you still have nearly 9 months to save up, especially if you do as I do and work as late as possible ( normally the day b4 I have baby

 

[Mrs Doddy]

Hiya

I momentarily forgot the 6 weeks pay, that will help and we will sell the caravan so that will be a little amount and I doubt I would be going out much to start with - thinking about it more and more I think we will be ok - and yes I think I will work as late as I can or until my body has had enough - didn't think of that the girls at work seem to take a month off before their due dates. We are not going on holiday this year so will be able to save some holiday entitlement too.