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If you have 3 dc how much do you earn per month and is money tight?

(67 Posts)
zippyswife Fri 11-Jul-14 12:40:44

Considering going for the third dc. I'm just considering the financial implications of this at the moment...

We take home approx £3000 per month and I don't know what the financial implications of a third would be.

So if you have 3dc how much do you earn and is money tight?

SoonToBeSix Fri 11-Jul-14 12:44:17

We have six , but when we had three take home pay was £1700 ( no childcare costs) so I think you will be fine.

SoonToBeSix Fri 11-Jul-14 12:45:21

And no money wasn't tight could afford a holiday abroad but could holiday in the uk, run a car , go on day trips etc.

SoonToBeSix Fri 11-Jul-14 12:45:45

That should read couldn't afford a holiday abroad.

Shinyshoes2 Fri 11-Jul-14 12:48:24

I have 3 and we bring home around £2500. A month .
Money is tight , I'm having to count the pennies after food and bills are paid for
I really wanted my third child though and knew it would be my last one as I was late 30's ... I would have really regretted not having my dd ... I knew I would always regret it .
We cut the cloth to suit our means but it's not easy

zippyswife Fri 11-Jul-14 12:53:54

Thanks. These were the answers I wanted!!

Is it much more expensive having 3 rather than the 2?

I don't want finance to be the reason that we don't do it. I'm 37 now so not sure how easily I'll fall pregnant anyway/if at all.

deakymom Fri 11-Jul-14 12:58:03

seems to be more expensive with three but he is such an EATER we cant leave the house without him demanding food! add up your childcare costs and price up the nappies take it from there i admit i was surprised at how much the cost of baby had gone up my son does end up in his brothers hand me downs and i've always been an ebayer (luckily) you might be able to squeeze one in just make sure you can and still work and still pay the bills that is the trick xx

Mumof3xox Fri 11-Jul-14 13:03:02

We have three

We take home £1600 per month from work

We also get help from tax credits to cover part of our child care costs

Currently have 1 dc in childcare and 2 at school. It is much easier on the purse than when we had two in childcare tbh

WildFlowersAttractBees Fri 11-Jul-14 13:06:25

We have three and bring home roughly £3000 a month.

We live in a nice house, run one car (including finance payments), eat well, afford a summer holiday, weekend away in the year and nights out, daytrips etc.

The expense of nappies and milk have been replaced with a pre-teen boys appetite!

topbanana1 Fri 11-Jul-14 13:12:40

It's a meaningless question because it depends entirely on housing costs. If you have 3 you need a house big enough for 3 - initially you can all squeeze in a 3 bed flat (or even 2 bed if nec) but by the time one is a teen you're likely to feel cramped without a 4 bed house. And how much that would cost you depends entirely on where you live and whether you already own and if so, what your mortgage costs are. If you bought years ago and have paid off your mortgage, housing costs could be zero. If you're looking to rent/buy in London, you could be looking at 2-3K per month easily JUST ON HOUSING COSTS.

So a more meaningful question would be what do you have left after you've paid the rent/mortgage.

FWIW, I have 3 and it is quite a lot more expensive than when we had two - bigger house is the main one but also bigger car, holidays not necessarily much more expensive but different eg more renting flats or cottages than trying to squeeze into hotel rooms. Plus as they get bigger they eat more!

When they're small, if one of you isn't a SAHP, then childcare costs will have a big impact on affordability too. For me, the extra years out of the full-time workforce have been my biggest cost, on top of the extra housing costs. But depending on your job/childcare situation, that might not be a factor for you.

mulberrylover Fri 11-Jul-14 13:27:43

It depends on many factors- where you are, size of your mortgage (if you have one), childcare cost (which will go up if you have a third assuming your using a nursery/childminder/nanny) and other outgoings- debts, car etc.

I'm in London, bring home £2.5k a month and get just under £600 a month from ex for DD. I have no mortgage/rent to pay and just about manage to keep my head above water. No holidays or expensive days out here really.

thebigfoo Fri 11-Jul-14 14:12:46

We have 3 DC and our income is around £1,200 per month. Yes, money is very tight, but we manage to get by, usually by the skin of our teeth.

littleSpud Fri 11-Jul-14 14:18:53

3 dc here

I'm a sahm

Dh earns 23k and we get some tax credits plus child benefit. Plus dh earns about £100 a month as a session musician

We get by fine, we run 2 cars (and a motorbike) have treats, nice things, holidays, have no debts etc. we rent (council) though, if / when we buy things will be tighter

We are in the midlands as well. Hope it helps x

Snatchoo Fri 11-Jul-14 14:19:48

Three living here and DSS.

DH is out of work, my take home pay is between £1300-1400 normally. We wouldn't cope without tax credits and child benefit.

However, this is our own fault - our mortgage is small, so if we had no other debts we'd be ok.

Snatchoo Fri 11-Jul-14 14:21:33

We live in the NW and don't run a car or have commuting costs btw.

A bedroom each isn't necessary, just desirable!

curiousgeorgie Fri 11-Jul-14 14:22:37

This question is a bit pointless...

If you have very low outgoings, where you live, bills, credit cards etc.

My DH brings home 7-8k a month (in Surrey) and we couldn't afford a 3rd child.

melissa83 Fri 11-Jul-14 14:24:44

Its not any more expensive for us but still have 2 bed flat, same car etc. Its no different from having 1.

Getyourflipflopson Fri 11-Jul-14 14:30:38

I am pregnant with our third. Dh brings home just under £3500 a month, I'm a sahm. We have two cars, mortgage is just under £1000. We get by but can't afford not to watch the pennies/spend frivolously.

numptieseverywhere Fri 11-Jul-14 14:34:20

at 7-8 k a month in Surrey you can easily afford 3 kids whilst living quite well, going on nice holidays etc, living in nice house...assuming you've cut your cloth accordingly.

Suzietwo Fri 11-Jul-14 14:35:32

I think the expensive of more children isn't so much that each one increases the bill be £x but that it increases the TIME you are having to pay for them

For example, if you use child care then if you only have 1 child you'll be paying out for, say, 5 years. If you have 3 then you're likely to be paying for closer to 9 years.

Artandco Fri 11-Jul-14 14:35:58

We have 2. We would struggle on less than £5000 a month. However we spend almost £2000 on rent a month (1bed flat, London), and £2000 on childcare. So the rest for bills, commuting, food etc

curiousgeorgie Fri 11-Jul-14 14:36:14

numpties - well, we can't.

MyCrazyLife Fri 11-Jul-14 14:55:27

We have very low outgoings in Lincolnshire

DP earns between 16,000 and 22,000

I'm a SAHM with tax credits

Rent - 495 for a 3 bed with playroom and large garden
Council tax - 82

Bills are probably the same as most others, although if anyone wants to know, if you claim child tax credits and don't have a water meter, Anglian water will set your tariff at £37 a month, and you can use as much water as you like smile

BackforGood Fri 11-Jul-14 15:23:09

Depends on your outgoings, surely? No point in just looking at what people bring home.
Also, what stage you are in, in life. We have 3, but they are now teens and we are both a considerable way further on in our careers than we were when they were little.
When our 3rd was born, dh was doing his PhD and on a pittance, and I was working 3 days a week as a teacher - things were tight! but you manage.
Our eldest was also at school when our youngest was born, so the CM fees had dropped a lot the year before she was born, so it was just a case of them going back up to what we'd been used to before that.

Preciousbane Fri 11-Jul-14 15:34:25

It depends on your outgoings especially housing but also what you think is acceptable as a standard of living. Many people don't have a choice but you do. I never wanted a lot of dc because I grew up in poverty as one of six dc.

The more dc anyone has the more their money and time is spread only you can decide what is ok for you.

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