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Worrying about finances

(21 Posts)
Lj8893 Mon 25-Mar-13 21:55:30

I'm currently about 9 weeks pregnant and do work full time, as does my partner.

However once I go on maternity leave we are hoping to move back to our home town where my partner will be working, but only on £13000/14000 pa. I will leave my job during my maternity leave as I want to only work part time, and will only be on min wage £6.19 an hr with whatever part time job I eventually get once my maternity leave is finished.

Obviously not a large income between us at all and I'm really worried how we are going to manage! We barely manage now with both of us working full time, in a small low billed flat with only 2 mouths to feed!

Is there anyone in a similar situation, how do you manage?

Rockchick1984 Mon 25-Mar-13 22:09:57

We have a household income of £18,000 at present (I'm a SAHM, the salary is DH's). We get a small amount of tax credits, and child benefit. We earn too much to get help with rent or council tax, but we manage. It's just a matter of budgeting, meal planning, and accepting that treats like meals out, new clothes etc are treats not an everyday occurrence.

SeriousStuff Tue 26-Mar-13 00:06:46

My profession means I'm the main earner in our house and I'm very keen to take as much time as possible off with our baby - and when I do go back I'll be working part time from home so I can keep the baby at home and spend as much time as possible with him/her.

It will mean quite a cut to our joint income, but I think the best advice is to stop reading what you 'should' get for your baby. Baby shops and online stores will brainwash you into thinking you need things you really don't (the same as with weddings!) They actually need very little at the beginning and other people will buy them things e.g. clothes, toys...also, think how great it is that we have ebay and Ikea (Ikea will be my saving grace - very cool things for very cheap prices!). Imagine 20 years ago and these things weren't available.

Also, some charity and second hand shops are now very high quality.

I hope this helps!

Lj8893 Tue 26-Mar-13 00:39:40

Thanks serious. I'm more concerned about rent, bills and food though!

SeriousStuff Tue 26-Mar-13 01:12:47

Sorry! Have a look at the MoneySavingExpert website - there's always loads of good tips on there re. saving money on bills and food.

Saundy Tue 26-Mar-13 08:12:07

I save a lot of money by doing food/household shopping at Makro, see if you can get a membership. It's seems expensive as you are bulk buying but when you see how long things last you realise it's not. Especially if you shop the offers.

Kateliztmum2be Tue 26-Mar-13 09:11:33

Hi there, I'm in a similar situ I'm 20+3 days
My DH is the main earner in the household but is currently in a meeting to learn if he'll still have a job next month, damn recession! I start mat leave in July and will be entitled to statutory mat pay only, obviously a huge help but still quite frightening. I'm spending a great deal of my time at the mo supporting DH, he is really down at the mo but trying to keep him positive, he will find a new job and he will be happier etc, but you can't help but worry can you?!
We are lucky as family are very supportive, but managing the bills and mortgage etc, its a case of reassessing our budget and being sensible, luxuries are exactly that and if we have to go without then we will! That's ,y only advice, review your monthly budget and see where you can make savings in places like sky tv, Internet, mobile phone etc. with food budget shop around, I buy all my cleaning and toiletries from the likes of pound land and other budget shops, buy none branded groceries and if you have a market for fresh food, use it, it's usually nicer and fresher and cheaper than the supermarket! It's about being organised and strategic in your shopping! Even try the online shopping for the big supermarkets, you'll be surprised how much you save by not being tempted but those end of aisle special offers!

Good luck and hope all healthy with your pregnancy!

X

Lj8893 Tue 26-Mar-13 11:57:43

Thanks for all your replies, really helpful, especially in regards to food shopping etc. we are pretty good at budget shopping.

What I'm mainly concerned about is that a 2 bed house to rent is going to be at least £650 a month, more like £700 and then council tax and bills on top of that, not even taking into account food, is going to be another £250 at least!!

And we will only be bringing home £1400 at the very most!!! It's just not going to cover even the bare minimums!

looneytune Tue 26-Mar-13 12:03:18

Just seen this and marking my place as interested in ay advice from others. My dh is currently out of work and yesterday was my last day of work so we're both at home with no income, no JSA or other benefits either, just the tax credits and evenually my maternity allowance. Scary times, really don't want to loose our home but the mortgage needs paying then like OP says, food etc. We're looking into what benefits we might be able to get and keeping everything crossed that dh gets a job soon - it's s* isn't it!

Lj8893 Tue 26-Mar-13 12:07:40

It really is a scary thought, I wonder how single mothers (or fathers) cope!!

Saundy Tue 26-Mar-13 12:13:19

I know what you mean. I've moved to the nice part of a less than desirable area and the rent on a lovely 3 bed new build is only £440. Half the cost of better areas at least. Its actually quieter than nicer more central areas I've lived in and the neighbours are much friendlier & look out for each other more. I don't bother anyone and nobody bothers me. As I drive its fine.

I don't intend to stay but I figured as long as we leave before the baby is 3 & can't be influenced by the more feral children that are about/is not of school age we can give ourselves some breathing space financially. Obvs a worse area = less council tax too so well worth considering.

We also use Utility Warehouse for our gas and electricity as they guarantee to beat the rates of the 3 biggest suppliers in your area, they don't particularly advertise (to keep their costs down) but are very good.

Lj8893 Tue 26-Mar-13 12:22:32

Unfortunately where we will be moving to is quite a small town so there isn't really a nice part and not so nice part, its all kind of merged into one so there isn't a difference in rental prices.

I have heard of utility warehouse a lot and will certainly be using them, not only for the better price but for the ease of having all the bills on one place.

Thankfully with a bit of research it seems we will qualify for working tax credits and child tax credits which will be a great help!! And the estimated amount we will be entitled to should be enough to at least cover or almost cover rent so that's a big relief!!

Saundy Tue 26-Mar-13 12:23:30

Phew! Good luck with it all.

ExpatAl Tue 26-Mar-13 12:24:58

I was just wondering whether this is the right time for you to be moving? It sounds like you're very anxious about where the money is going to come from and it's not guaranteed you'll get a job quickly. At least you know what your expenses are where you live now and you'll have a job to go back to.

ExpatAl Tue 26-Mar-13 12:25:44

Whops! Just seen your last post and it seems all is sorted. Good luck!

Lj8893 Tue 26-Mar-13 12:31:19

I appreciate your concerns expat, but my partner is being transferred to a location within the town where we will be moving so that isn't a worry.

I am not able to go go back to my job as part time and am adamant I do not want to work full time after my maternity leave so that's out of the question.
I'm fairly confident in managing to find a part time job in the town, and if I can't find one suitable I have several family businesses who are more than happy to place me in a job doing something if needs be!

We would have to move anyway, as we are currently in a tiny 1 bed flat and rental prices for anything larger will be much cheaper in our hometown than where we live now.

ExpatAl Tue 26-Mar-13 12:34:15

Might have been good to say all that in your first post.

BabyHMummy Tue 26-Mar-13 13:17:06

I have similar concerns! I am on sick.leave which is due to run out of pay soon and dreading it but budgeting and going without is going to be a must. Due to problems at work i am not going to go back before my mat leave starts so am worry lots.

People managed on earnings much less 20+ years ago so as long as u r sensible u will be fine. Shop around and use free sites love freecycle to get what u can for baby. Ebay is also a godsend! If u have friend that are pregnant pool resources for things like makro and bulk buy nappies/wipes etc

rrreow Tue 26-Mar-13 14:02:52

Glad you found out about working & child tax credit, as that's what I was going to suggest. They've been a real lifesaver for us.

If you haven't left your job yet you might still be earning too much at this point, but as soon as your joint income is below their threshold, apply for the working tax credit (as you can do that before your DC is born). Then once your DC is born you can just call them up and add the child element by phone if I recall correctly. Means you will have a little bit extra leading up to the birth and also saves you having to fill out the many forms when you're dealing with a newborn!

Also don't forget to start claiming child benefit (it's about £80 a month for the first child) as soon as your DC is born (they'll pay it in arrears up to a point if you claim later, but better to do it as soon as possible).

rrreow Tue 26-Mar-13 14:05:10

Oh and I'm fairly certain that for child benefit and child tax credit they will need to see the birth certificate. So register your DC as quickly as possible and make sure to get a few extra certified copies (I think HMRC send them back to you in the post, but it's definitely helpful to have more than one, I think 3 is fine)

Lj8893 Tue 26-Mar-13 14:14:32

Rrreow thanks so much! That's really simplified it all in my little brain now, its so much to take in at first.

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