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PostPosted: 08 Sep 2009 20:44 
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Hello
As you all I know, I am married and have one little boy aged 20 months. I work full time, and so does my hubby so my little one goes to Nursery every day.
Just lately i have had the well known overwhelming broodiness that we cant ignore! Mother nature has tipped this one on me again!
I would really like another, although i am more than happy to have Rohan, but would like a brother or sister for him. My hubby is fantastic with Rohan, and to be honest isnt bothered at all abut having another, but said he will when we are in a better financial state.
Dont get me wrong, we have good jobs, have a nice life and we are not struggling, however like the rest of the world, we have committments, and debts which need to be paid. This means that I could not give up work, as Jase wage alone would not cover all the bills/responsibilities that we have. For me to give up work would mean that Jse would have to cover all rent/council tax, electric, gas, phone/internet, food, car expenses like insurance and MOT, tax as well as fuel. I appreciate that if I was not working Rohan would not be at nursery full time, so we would be saving there, but even takind that into consideration, we would still have a shortfall of over £600 with me not working. I would get full pay for 6 months maternity leave which is good, but the problem would arise in that when i go back to work we would have to pay another lot of childcare (approx £750 per month for second child), all to pay the bills and not have alot left over.
Problem is, I am not too bothered about work. In fact I would happily leave tomorrow (apart from the fact i have to give 12 months notice, being in the forces) and bring up Rohan and any other that comes along, but I dont want us to live on the breadline iykwim? I appreciate there are sacrifices to be made, we all do this for our kids to make sure they have a nice life, but I dont want to be peniless so much that we cant afford to live. Do you understand what I mean?
Any suggestions to get round this? We dont qualify for childcare costs, so to put two in nursery would cost us around £1400 per month! HELP! :lol:

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PostPosted: 08 Sep 2009 20:54 
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It's a vicious circle isn't it when it comes to money and childcare. You need to work to earn money to live but when you have to pay out for childcare you end up spending the extra income on it so may as well not bother! That's the only input I have I'm afraid :lol: no solution sorry x

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PostPosted: 08 Sep 2009 21:16 
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Location: Bury - Near Manchester
Hiya Hun,

When I found out I was pregnant with Josh (he wasnt exactly planned IYKWIM) I was really worried about finances - we had struggled when I was on mat leave with Izzy and obviously had even more expence with her too, but as I also had enhanced benefits (not 100% for 6 months mind you!!! :o :shock:) so we made do by tightening our purse strings and we were luckyto get some extra family support, but I was even more concerned by the cost of full time childcare for 2 children. However it didnt work out as bad as I expected. The nursery offered a 10% discount for having 2 children going there, and we got tax credits which actually covered a lot more than I'd thought - I think its based on upto 70% of the child care costs upto £300 for 2 or more children.

It sounds like a good idea to have another child whilst you get the amazing 100% from the RAF as it would be more difficult afterwards if you then only got SMP where its just 90% for 6 weeks, then £123.06 pw.

Maybe it would be worth seeing how much you would be likely to get based on the increased childcare amounts -

http://www .workingfamilies.org.uk/asp/calculator/
http://www .hmrc.gov.uk/taxcredits/payments-entitlement/entitlement/question-how-much.htm

I also found that we were just over a tax credits level, which meant that by going back only 4 days a week I actually qualified for more tax credits, and the difference made up the wage drop.

HTH

Lizi


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PostPosted: 08 Sep 2009 21:37 
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Lizi wrote:
Hiya Hun,

When I found out I was pregnant with Josh (he wasnt exactly planned IYKWIM) I was really worried about finances - we had struggled when I was on mat leave with Izzy and obviously had even more expence with her too, but as I also had enhanced benefits (not 100% for 6 months mind you!!! :o :shock:) so we made do by tightening our purse strings and we were luckyto get some extra family support, but I was even more concerned by the cost of full time childcare for 2 children. However it didnt work out as bad as I expected. The nursery offered a 10% discount for having 2 children going there, and we got tax credits which actually covered a lot more than I'd thought - I think its based on upto 70% of the child care costs upto £300 for 2 or more children.

It sounds like a good idea to have another child whilst you get the amazing 100% from the RAF as it would be more difficult afterwards if you then only got SMP where its just 90% for 6 weeks, then £123.06 pw.

Maybe it would be worth seeing how much you would be likely to get based on the increased childcare amounts -

http://www .workingfamilies.org.uk/asp/calculator/
http://www .hmrc.gov.uk/taxcredits/payments-entitlement/entitlement/question-how-much.htm

I also found that we were just over a tax credits level, which meant that by going back only 4 days a week I actually qualified for more tax credits, and the difference made up the wage drop.

HTH

Lizi


Thanks hunny
It is a help, gonna check it out x

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PostPosted: 08 Sep 2009 22:33 
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Vickie, i was in the same position as you until Ryan got made redundant in December last year and i became the provider in our home...

any advice ladies? :mrgreen:

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PostPosted: 08 Sep 2009 22:35 
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When Geoff and I decided we wanted to try for a baby, I literally fell pregnant within a month of trying so it happened way too quick for us to get our head around the financial aspects of it. At the time, I had only just moved to Windsor, having quit my job in Milton Keynes and was looking for a job. I moved down 1st October, by mid-November I was pregnant, and by December I was so ill with morning sickness (that still makes me laugh, it was more like 24/7 sickness :roll: ) that I couldn't get out of bed, let alone go out and look for a job. I was sick right up until mid-February, and obviously, that really affected us financially. At the time, we had lived in a hotel that cost us £2000 for a month, then moved into a flat where we were paying rent, and paying the mortgage on this flat as Geoff had just started the works on it (as you know, the flat we now live in is intended for development only and should have been sold before Oscar was born). By the time I did start work, it was February and I was only working as a temp in admin, as it was a 2 minutes walk from where we live, so I saved LOTS of money not commuting. It was a job that suited me fine at the time, whilst pregnant, as the tiredness didn't affect me as much if I had to do an hour commute into London every morning and evening, (plus I could come home for a nap if I wanted to in my lunch hour :lol: ). We lived off mostly my wages for a while, but soon realised that we didn't have enough in our savings to finish off the flat, and buy all the baby stuff we needed. Thankfully, the MIL chipped in to help. There were soooo many structural changes and surprises to this flat, that what we thought would only take a few months, ended up taking much longer. The flat was ready for us to move into by April, although it was no where near finished. After I started my maternity leave, in July, the work just stopped completely, and in August Oscar was born and we were no where near ready. My maternity pay ended in April. Thankfully, we have a variable rate mortgage, so when the interest rates dropped, that made up for some of the loss in my wages. Somehow, over the last year or so, we have managed, but never struggled, and I have been able to look after Oscar at home, and not go back to work. We are now in a position to finish the flat now, it's easier now that Oscar is older, and the disruption of having to move to MIL's for a week or two won't affect him as much as it would have done as a newborn. Although the flat has taken a backseat (the sale of it was supposed to be our lump sum start up money for a new home before Oscar was born!), somehow, over the last year we have managed. Don't ask me how, but we have. I guess the point of this rambling story is that where there's a will, there's a way: kids have that affect on you. I appreciate that you may need to take out a second mortgage to cover the costs of childcare :shock: , but check out what you're entitled to with regards to financial help with child care costs, but I'm sure, that like us, you will find a way. :D

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PostPosted: 08 Sep 2009 23:04 
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Sel wrote:
When Geoff and I decided we wanted to try for a baby, I literally fell pregnant within a month of trying so it happened way too quick for us to get our head around the financial aspects of it. At the time, I had only just moved to Windsor, having quit my job in Milton Keynes and was looking for a job. I moved down 1st October, by mid-November I was pregnant, and by December I was so ill with morning sickness (that still makes me laugh, it was more like 24/7 sickness :roll: ) that I couldn't get out of bed, let alone go out and look for a job. I was sick right up until mid-February, and obviously, that really affected us financially. At the time, we had lived in a hotel that cost us £2000 for a month, then moved into a flat where we were paying rent, and paying the mortgage on this flat as Geoff had just started the works on it (as you know, the flat we now live in is intended for development only and should have been sold before Oscar was born). By the time I did start work, it was February and I was only working as a temp in admin, as it was a 2 minutes walk from where we live, so I saved LOTS of money not commuting. It was a job that suited me fine at the time, whilst pregnant, as the tiredness didn't affect me as much if I had to do an hour commute into London every morning and evening, (plus I could come home for a nap if I wanted to in my lunch hour :lol: ). We lived off mostly my wages for a while, but soon realised that we didn't have enough in our savings to finish off the flat, and buy all the baby stuff we needed. Thankfully, the MIL chipped in to help. There were soooo many structural changes and surprises to this flat, that what we thought would only take a few months, ended up taking much longer. The flat was ready for us to move into by April, although it was no where near finished. After I started my maternity leave, in July, the work just stopped completely, and in August Oscar was born and we were no where near ready. My maternity pay ended in April. Thankfully, we have a variable rate mortgage, so when the interest rates dropped, that made up for some of the loss in my wages. Somehow, over the last year or so, we have managed, but never struggled, and I have been able to look after Oscar at home, and not go back to work. We are now in a position to finish the flat now, it's easier now that Oscar is older, and the disruption of having to move to MIL's for a week or two won't affect him as much as it would have done as a newborn. Although the flat has taken a backseat (the sale of it was supposed to be our lump sum start up money for a new home before Oscar was born!), somehow, over the last year we have managed. Don't ask me how, but we have. I guess the point of this rambling story is that where there's a will, there's a way: kids have that affect on you. I appreciate that you may need to take out a second mortgage to cover the costs of childcare :shock: , but check out what you're entitled to with regards to financial help with child care costs, but I'm sure, that like us, you will find a way. :D

Thanks for that, its good to hear all different persectives on it and see that im not alone! x

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PostPosted: 08 Sep 2009 23:27 
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VickielovesRohan wrote:
Thanks for that, its good to hear all different persectives on it and see that im not alone! x


No wucking forries, although I didn't say all that for your benefit, I just wanted to prove that I can randomly ramble too! :lol: :lol: :lol:

You're never alone Hon. If it makes you feel any better, Geoff and I are looking to try for another one next year. We've decided that having another when Oscar will be round 3 years old, will just make life a little easier on us all (no need for a twin buggy etc). As far as finances go, Geoff and I will be looking to do some bookeeping at home which will bring in some extra money and take it as far as we can. I think that with these things, as much as you want to be as financially prepared as you can, you can end up waiting for the right time, which inevitably, will never come. x

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PostPosted: 09 Sep 2009 07:32 
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I agree with Sel I think you just manage if you really want to.

With childcare being a real issue tho there maybe ways around it. When Rohan is three you will be entitiled to some free nursery seesions which will cut his bill. Also if you reduce his nursery hours while on maternity you could squirrell some money away ready for when you need more childcare. If your not fussed about work have you considered getting registered as a childminder after maternity. That way you can be at home with your babies and get some money that way and wont have to fork out for childcare. Even doing some after school pickups would soon add up. i pay 4 pound a hour each for my two.

Just more options to think about!!

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PostPosted: 09 Sep 2009 09:31 
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Don't ask me, we just cope! :lol: :lol: :lol:

Granted we are in a council house, so the rent is a pittance compared to a mortgage and we don't have to worry if something goes wrong, like the carbon monoxcide detector going off and therefore needing the chimney unblocked (oh the joys just after Christmas!!). I'm a SAHM so no child care costs involved and if I did work all my money at the moment would go on after nursery/school childcare. So we get by on Peter's wages, child tax credits and child benefit. With 4 kids that's a fair bit and helps enormously.

If you can I'd start saving what you can now. Start cutting back on things and looking at how you can save money on your weekly shopping bill for example. If you gradually introduce a budgeting system now, it won't come as a total shock when you really need to do it.
You should also be eligible for the Health in Pregnancy grant once you are pregnant. Granted it's only £190, but that can go a long way if you want it to!!

Most of us think of having another and panic about how we're going to afford it and somehow we just do!!

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