How can I afford a baby?(13 Posts)
So I work full time and am currently training in other profession which I'm due to qualify in about 3 months time. I still live at home with my parents(which I don't think they will appreciate a screaming baby)
I'm worried as my income can hardly stretch for me right now and I know I'll get help but what I'm really worried about is childcare???
It costs so much!!!
I need to work full time to live so I can't go part time, unfortunately I don't have a partner to help me out with money.
I really want this baby but I want to make sure I bring him/her into this world knowing I can afford and not struggle.
Has anyone else been in my situation that could help???
When is your baby due? Do your parents know about it? If they do and they haven't asked you to move out then they might well be expecting you to stay?
Not yet I've only just found out and I'm trying to wrap my brain around it all. If I did stay with my parents it would only be for a short time as we live in a flat.
I'm due 23rd September.
how much do you earn OP?
are you entitled to matenity pay from your job and have you looked at what your employer offers?
are you in touch with baby's dad ie can you claim maintenence from him?
are you parents likely to help out with childcare?
A lot of work places will help you via Childcare vouchers, being flexible re times and giving you special leave during emergencies etc. Small babies don't cost much if you breast feed, nursery fees vary depending on where you are. Around here it's £30-35 a day but I imagine it's a lot more in other places. Childminder may be a cheaper option. If you are low income you can get child tax credits. Would your parents not help out a bit if you had your own place? Grandparents do tend to like their grandkids....And get the father to contribute maintenance even if he doesn't want to be involved.
You will also get £82 odd a month child benefit for your baby irrespective of your income
Would your parents help out with childcare?
Does your workplace offer over the minimum statutory maternity leave?
Is the father on the scene? Could he and/or his parents help with childcare/maintenance?
Love is more important than money, but having no money is very stressful.
How old are you?
Google the coat of a nursery in your area then go to entitled to website and put your details in.
It will tell you how much tax credits you will get.
You will also get a maternity grant, child benefit, maternity pay.
Housing is probably more of a problem.
Look up private lets and see if housing benefit will cover it.
Other than childcare babies are cheap.
plus you save money from never going out
Congratulations for your pregnancy. Is there no way that the father and his family can be involved?
I haven't yet told the dad. I'm not too sure how he'll take it, that's something I'm very nervous about.
Will you be able to get a job easily when you qualify?
You get tax credits and things, honestly it will be ok
My situation was a bit different to yours but maybe you'll find it reassuring - admittedly it never went into practice as I lost my baby early on.
I'm disabled and not working, my partner is also disabled. We have a small income but with good budgeting we are comfortable - even able to regularly save.
We worked out how much we could set aside each month in advance of the baby arriving. We then listed what we would need before baby's arrival - having a costed list is something I found very helpful. We also scouted out where we could save money in advance, and you might find that helpful as well.
eBay is great for picking up second hand baby things very cheap, especially clothes and toys, which you can often buy in bulk. Check out Freecycle as well - a lot of people give away their old baby things and just because they're free doesn't mean they're junk, normally it just means people want their space back or need to make more space for their growing child!
Don't fall for marketing ploys. A gigantic three wheeler buggy is more or less the same as a nice fold up pram in terms of durability, and the nice fold up is going to make fewer people hate you on the bus or in Starbucks as well as cost less. Boiling water in a pan is going to be cheaper than buying a sterilizer if you need to use bottles - obviously be safe and make sure your bottles aren't going to melt!
We costed how much formula would cost on the off chance I couldn't breastfeed, just in case, and worked that into our weekly budget. We also looked into nappies and discovered it wouldn't be too hard to opt for reusables and it would save a HUGE amount of money - google The Nappy Lady, she has some videos showing how to use reusables as well as the process of cleaning them, which is easier than I thought it would be.
See if you can develop a budgeting system now. Think about your outgoings and whether or not you can cut down. A good example is things like mobile phones - some people are paying maybe twenty or thirty pounds a month because they haven't shopped around or changed their contract, that could come down to around twelve pounds for the same useage with some companies, depending on available deals!
I'd always plug moneysavingexpert.com as a good source of advice.
And finally, best of luck to you. Don't get overwhelmed. You've worked, you've studied, you're no stranger to making changes to your life. Congratulations!
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