affording a large family(13 Posts)
Hi i'm new to this board just got a really nosey question how much does everyone earn we have 4 children and finding it hard to budget and just wondered how everyone else manages .
We manage by being in the upper tax bracket.
But to put things in perspective...
Friends who have 6 DC (but no mortgage or rent) manage on earned income of about 11k/yr. They do an awful lot of travelling, but their kids don't get to do many activities, toys or new clothes. So it just depends how you want to juggle your money, I guess.
I'm wondering same thing. We have three girls, thinking about a 4th but worried about money. Hobby earns 29k plus cct and cb. I don't work. Manage fine now but do.worry about when they hit teenage years!
My DH earns 23k basic but does some extras and I do some babysitting so our combined salaries over the year usually bring us to around 27k.
We are just very careful. We rarely go away, only generaly a week in the uk every couple of years but do try to go and visit family and combine it with cheap travel lodge stays a couple of times a year.
Clothes wise I buy from supermarkets and some second hand. I sell any decent clothes on.
The children don't get many toys and presents outside of Birthdays and Christmas but then they don't need them really. We manage to buy decent presents on special occasions - spend around £100 per child.
I am very careful with food, do a food plan each week based on what we have in and then shop the offers in supermarkets in preperation for the next week. We try to grow some fruit and veg and look locally for useable produce - ie we will pick blackberries in the next few weeks and make pies and freeze.
We both drive cheaper cars, a nissan almera for me and a fiat multipla for dh. Cheaper to run than big mpvs which we had before, and were impractical.
We only buy houses that are cheap and renovate to keep mortgage costs down but help us to move up the property ladder.
We look locally for cheaper days out, local councils run great activities so the kids still have fun at a fraction of the cost. We use tesco points for days out, look out for 2 for 1 tickets etc.
But we generally manage pretty well and it is fine! We have laptops, sky, broadband, decent clothes, are well fed, pay our bills...
We earn abOut £17k now. 3 kids but fairly low mortgage and no childcare as we both work part time.
Considering dc4 but it's space rather than finances
I don't think it costs a lot more to have an extra child. Once you have gone up to a bigger car, and extra room in house, there are not many additional costs.
I know another child needs their own clothes, but large families are good with hand-me-downs.
If you are paying school fees, then you notice the extra child.
Holidays can be expensive if you are paying per person, but not if it is per
room mobile home.
We are ok in that the household bills aren't a problem. But with 5 dc day to day expenses can run into a lot of money. Food wise its actually more economical to cook for more people, cost per meal works out cheaper. But things like when everyone needs trainers, or trips can cost lots. I wouldnt say our dc go without, but we dont do as much eating out or expensive activites as we did say when we had 3 dc.
Bloody hell!!!! We worked it out today that in 4 years time (when we plan to try for dc4) we will be on a combined income of roughly €90k and were worried whether having another would be sensible due to finances!!!.
I'm not saying this in a boastful type way - sterling is worth that bit more than the euro and it's Soooooo much more expensive to live here than in the UK but am completely shocked as this thread has made me realise how much cheaper it would be to live in the UK.
We're not high earners btw, I just can't get over that........
We are expecting 4th and are on around £70-80k combined with company car. I know we are well off on paper BUT we don't feel mega rich cos we live in a capital city (2 bed, 2 box room flat with no garden) and I work so are paying around £21k for childcare just now for 4 days and after school care. That's about £30k to be earned considering tax so in my view we're sort of on £40-50k.
We shop charity and lidl and one to 2 UK holidays a year but we can afford sky package and coffees out now and again at weekend. No tax credits obviously just child benefit which will go for us. Not complaining - tbh if you're prepared to accept all hand me downs and economise as I feel we do the kids themselves aren't that expensive (mine are little) - it's just the childcare killing us although I realise I'm lucky in that I can financially choose to work.
Yes the food bills of the future do worry me what with 4 boys. Said to dh the other day we're going to need one of those American fridges you could get buried in in a few years. TBH I foresee our childcare costs just being replaced by food and trainer bills. And god knows how I'll afford to teach them to drive (sad but I work insurance and cost for young drivers is phenomenal)-think they'll be doing that one on their own in their 30's
We have 4 DC and have an income of roughly 25k.We paid off mortgage before having last 2,we run a van and an MPV which were bought cash,we have no debt and some savings.We have no childcare costs as I don't work.We manage a couple of UK holidays every year and abroad maybe every 3 years.We have sky,broadband etc and really don,t want for much.
Our biggest outlay is probably food which I have noticed is becoming more expensive and as someone else mentioned space is more of a problem but the kids don't notice! They are happy to wear hand me downs but get plenty of new stuff too.I am a canny shopper!
It can be done-it's all about priorities.I think too many people are caught up with what you are seen to have and keeping up with the Joneses.The best things in life are free and my kids enjoy playing in rockpools or some such entertainment-even the teenager!
another family not on a huge income with 5 kids, 4 boys and one baby girl.
its tight and food costs LOADS, my boys eat for england! so i buy second hand clothes and we are just getting another set of bunk beds 2nd hand from local free ads.
i do buy some new clothes but h&m and supermarkets do cheap stuff and i look out for good sales etc.
we holiday in the UK, we go camping as well when we can, our car is diesel as that is cheaper and we were careful with engine size etc so the car tax wasnt too much.
i am a sahm so no childcare costs but it is impossible for me to work with dp's shifts and he works his arse off!
its the things like music and sports clubs etc that add up and make you weep!
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