How do people afford to have a baby?

Me and my husband eventually want to have children but our finances are against it. We have a mortgage to pay and have worked out that we could just not afford for one of us to take the first year out of work which is really dissapointing. Its just so unfair, the only option we can see is to move to a less valued house which we do not want as we are really settled where we are. Both of us can not see our wages going up that much but we really want children, maybe not this year but maybe to start trying next year/year after. If we did not have money to worry about we would try tomorrw.

I really dont want this post to sound affensive in anyway Im just asking for advice. I have heard that you can not budget or save to have children but im scared that we could not afford to pay our mortgage.

You save like mad, give up any holidays and stop going out for a year.

Put every bit of spare cash you've got into an account you can't fritter away at.

Get some car boots done, and find a part time job.

Save, save, and save.

With all the spare time you now get at home from not going out, you practise making a baby:hihi:.

That's what we did for baby surfin no.2

Jim:thumbsup:

firstly, never underestimate the generosity of other people when it comes to helping out with a baby - some people who moved in 3 doors away from us gave us a very nice cot, and they'd never even met us before, jsut seen us with a baby. people gave us spare bottles, books, toys... if you time it right you can have some of our stuff when we're done with it (next baby hopefully april 2008...). second hand things can be incredibly cheap and barely used.

it does suck though, doesn't it? we were really fortunate that we managed to save enough to cover everything to start with, but the childcare costs are going to be crippling - around £150 per week, although i'm sure it can be found cheaper than this. before i had a baby i thought that was extortionate but now i know how much work a baby involves it's actually very reasonable. don't lose heart, though - the childcare only lasts for a few years and at 3-4 kids get nursery education funding which gives them a certain amount of nursery education supported by government funds rather than mummy/daddy working fingers to bone funds, and the amount is apparently going to go up in a couple of years. child tax credit, child benefit (£17.45 per week goes a long way if you're breast feedign, which is obviously better for the bab into the bargain), working tax credit, i think you can get childcare benefit as well. if you're working you should get some kind of maternity benefit, even if it isn't great it's still better than nothing.

have you considered changing your mortgage? it's worth looking in to - if you can get a lower rate, stretch it over more years, or even change it to an interest only mortgage for a few years until the kids are at school and you're working withotu paying childcare? in a few years hopefully you and your guy will be earning more, but if you get a fixed rate mortgage the payments will still be the same, hence easier to afford.

It's true, there will never be a right time to have a baby if you ponder it. Babies come when they are wanted (in most cases, but don't quote me) and adjustments are made after, as and when needed.

We had very little money when our first child was born (6 years ago) my husband was ill and I was sole provider during my pregnancy. We had no way of knowing that he would recover. We coped, and then came another baby right at the time when we had several other issues to deal with which affected our finances amongst other things.

Circumstances change and they cannot always be predicted. We are in a much better position than we were a few years ago and we couldn't have accounted for that.

That's what we did for baby surfin no.2

How many baby surfins are there Jim if you don't mind me asking?

How many baby surfins are there Jim if you don't mind me asking?

Just the 2. Mrs Surfin had a really bad time at the start of this year with Faye. Have a read at my placenta thread

http://www.sheffieldforum.co.uk/showthread.php?t=147899

Jim:thumbsup:

Just the 2. Mrs Surfin had a really bad time at the start of this year with Faye. Have a read at my placenta thread

That sounds really nasty Jim, hope Mrs Surfin is okay now and baby Faye

With our situation we had really pulled ourselves out, I'd been saving and had some money stashed in the bank ready for major expenses but then we found we we're having twins and our house wasn't big enough for two babies so we decided we really needed to move (and it was prudent to get on the property ladder ASAP).

So, we managed to pay the deposit, decorate and work on new house, buy baby stuff and have a holiday.

It probably cost in the region of £8,500 to do all that. So, since you already have a mortgage it would be an awful lot less.

As said above, second hand good are great and a lot less galling to part with when they've only been used for a very short time. In many cases, buying second baby items will still leave you with a resale value when you've done with them.

Then, you'll get 6 months maternity pay and family tax credits (assuming you have an income which entitles you to it) with a new baby supplement and the child benefit.

So, certainly for the first 6 months it isn't too bad but then it depends on your return to work and if you can manage if you choose not to. Then you do get financial help with childcare if you return.

Bizarrely it does all work out but you can only know that once you are actually doing it.

The old tale of 'you'll never have enough money to plan for a baby' is entirely correct.

Worst case scenario you may have to tighten your belts but since heavily pregnant women tend not to be running up enormous social life bills, drinking lots of alcohol and so on, it doesn't change too much after birth either cos then you've got a baby to care for.

Good luck if you go ahead and try, it will all work out.

you wiil manage if you really want a baby you just have to go without your little perks but believe me its so worth it and at the end of the day money does'nt buy love does it?

Thankyou all for your kind and helpful words. Its a huge decision to make starting a family. I do feel a bit better after reading everyones replies so thankyou. So for the next year we will have to save like mad.

In a year or two who knows I may have an announcment to make.

This thread inspired me to do some research.... We are considering children in the near arther than distant future, but can't really afford it at the mo (damn breaking cars and wedding bills!!!!) I tend to be employed on yearly contracts in my line of work so though that i'd never qualify for maternity pay... it seems i would do, YAY if i'd been in the job long enough... so thats no reason to stop me...

Again we now really need to concentrate on saving money (once this wedding is our of the way ) and then we need to find time to ...erm... practise too i guess

I'm feeling more positive about it all now the one big problem is i'm not a going out and drinking kinda person, so i won't be saving that money that i'm not spending... hmmm... I guess i'd be saving money on trainfares though... at least whilst i was on leave

<---thinks too much...