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Savings advice?

WhiteKhocol8

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One of our big goals pre-baby is to have a bit of a nest egg to pay the mortgage while I'm on family leave. I have a rough figure in mind that I would like to see us save (as a bare minimum) but I'm curious as to what you ladies have in mind that you'd like to have as a buffer before ttc?
 
Hi white. This is the same for us. I would like to have 4000 saved so we are not struggling. Have you started saving yet?
 
Can you overpay on your mortgage now and underpay later? You may find this saves you more money that putting the cash in a savings account as most savings accounts don't pay anywhere near the interest that gets charged on things like mortgages/loans etc. Or change to one of those mortgages that offset your savings against your interest?
 
That's what I'm planning on doing, overpaying on my mortgage. I also want to have some savings but I'm not sure yet how much.
 
We looked into overpaying but unfortunately as our mortgage is new we are locked to how much we pay for the next two years. We can put more in but we would still be required to make similar minimum fortnightly payments when time comes for me to stop work. I guess it depends when I actually become pregnant - if we have a year of trying before I fall we will overpay then, and hopefully have some leeway later.

I was thinking of trying to save 6000 for living costs when I'm off. I have a casual job that will give me some income while I am not working full time, and I can always tutor, plus my tax return will net a pretty little injection in the middle of the year, but I'd like a bit of a safety net just in case. I would really like to be able to buy what we need gradually over the next two years (separate to our savings) as this will be our first and possibly only child so I'd like to do things as nicely as we can.

I have started saving, but life happens and the recent move wiped a fair bit of it out! Back on track now though - tax season is a wonderful thing!

I am saving for this on my own as I am so aware of my husband being the only breadwinner while I'm off - I want to make it as easy as possible on him beforehand. I'm looking forward to surprising him with my savings!
 
I should add, too, that finances are the only thing stopping us from ttc now. We have had a few giggles over 'well, if we win lotto then I guess we can start trying now!' So fingers crossed we win the jackpot at some point in the not so distant future!
 
We have some debts that we will have really paid down by the time baby arrives but we went have anything in the way of savings, dh earns enough with my mat pay to get by although it well be a bit tight, I'm applying for a new job, I'd I get it I'll get great mat pay and went need to worry. I'm not stressed about not having savings but it would be nice, it's just not possible to pay off our debts and to save
 

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