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AIBU?

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how much does your child actually cost you? Please help me :(

112 replies

AbelMary · 24/01/2024 14:30

I want to leave DP. He earns 75k with prospects of it going much higher, perhaps to 140k eventually, maybe 100k in next 4 years etc. We have a two year old.

I am well aware that cms is shit and can’t rely on it. I only add in his circumstances for context. It’s me who wants to leave and he will absolutely put me through cms if that happens, he generally does the right thing but he won’t make any of it easy given I will be causing the break up. Dd will live with me, he won’t argue that one as he does barely anything as it is and is completely work obsessed.

my question is… am I making a huge mistake financially? I earn 68k but I am always worried about my job as my mental health is up and down. I’ve always maintained my job but if I was a single parent I would be alone paying mortgage and bills etc.

I am v lucky that I own a 3 bed detached with a 50% mortgage on it that I rent out while living with DP. I intend to move back to that.

My worry is that I am not really understanding how much a child costs. DP would pay 780 based on the cms calculator and when I confirmed all this in a friend she said that won’t go far when she hits school…. Is this right? I am too embarrassed to ask more about what she meant as I wonder if I am completely deluded about child costs? I have been looking up costs of dancing classes and swimming lessons etc and done a budget plan and the costs are a lot. How much do you spend overall for a 5 year old, 10 year old, 15 year old etc etc? Am I crazy for considering this on a financial level given cms is never guaranteed? I would hope he would do the right thing but I don’t want to separate in that hope, I need to be realistic that I could fully be on my own financially. Can anyone help?

OP posts:
AbelMary · 24/01/2024 14:44

@IcedupTulip is it really teen years then that are hard? What sort of stuff do you pay for?! I feel so out of my depth. Cinema trips or schools trips etc? What sort of cost wouod you say it is monthly?

I have huge anxiety linked to mental health challenges and I feel sick with worry that I don’t have any experience of any of this

OP posts:
ImActuallyFreezing31 · 24/01/2024 14:42

You'll be fine, single mum, 2 kids, no financial support from their dad, after rent we have 1.2k a month and we are okay

They have nice birthdays, xmas ect, we have days out, they have treats each week,

You'll be okay

Avacardo2023 · 24/01/2024 14:40

It's plenty to live on and you are in a great financial position. Also you might find that your mental health improves enormously when you move out, so you won't have to worry about your job so much.

ingenvillvetavardukoptdintroja · 24/01/2024 14:40

You earn more than me and my husband together and we have 2!

QueenOfWeeds · 24/01/2024 14:39

When working out costs, remember to think about if you will need wraparound care for school (and you would obviously be looking at schools near your current rental, so factor that in). “Hobby” classes are, ultimately, optional, but you need to have something in place to enable you to work. Also holiday childcare when they are school age will be a spike in that month’s outgoings, so August, when they are off school, will probably cost you more than, eg November, when they will have the full month in school.

I hope you find something that works for you. It’s horrible to feel financially trapped.

HariboFantastics · 24/01/2024 14:39

You’re welcome! I think overall your biggest costs would be any extra childcare, (I’m unsure on your earnings to be entitled but have a look at 30 funded hours once DD is 3 if childcare isn’t already in place), school uniform and days out during half terms but those are all down to each parent and whether you choose private nurseries, branded uniform instead of the correct colours from a supermarket and where you go for days out, think about how comfortable you are now and how much his wage actually contributes and then halve it, I honestly think you’ll be okay!

IncompleteSenten · 24/01/2024 14:38

That's plenty to live on. Financially you will be fine.
When it comes to non essentials, children cost what you can afford for them to cost. So that may mean fewer hobbies but that's ok. They have a roof over their head, food in their stomach and clothes on their back. Everything else is whatever you can afford. It's different for everyone

unicornsarereal72 · 24/01/2024 14:38

You cut your cloth. Your out going appear to be very reasonable. And you will adapted. I earn half of what you do. Mortgage of £900. And no CMS. Due to my children's needs I get some DLA and UC. And we do just fine.

Sanch1 · 24/01/2024 14:37

You earn £68K, you only have a 50% mortgage, and he'll be due to pay £780 a month CMS? With the greatest of respect I think you'll be ok! When I was in your position I did a spreadsheet, basic income vs outcome to see how it would work out, have you done that? Also remember that as your child gets older, you'll be likely earning more, the expensive stuff after nursery doesnt kick in until secondary really, and they dont HAVE to do all the clubs, a couple would surely be fine? Also go on entitledto.com and see if you would be entitled to claim anything, i was surprised at what I could claim when I was in same position.

IcedupTulip · 24/01/2024 14:35

You’ll be fine. You’ll be entitled to a fair amount of cms and you are a high earner yourself with only a 50% mortgage on your home. I really think you’ll be fine.

kids start costing in their teens. You’ve got about 10 years before they want the designer clothes and trips out with their mates. I think you’d be fine even if your kid was a teen now.

AbelMary · 24/01/2024 14:34

@HariboFantastics thank you that is massively reassuring. I don’t want to stay with him just for financial reasons but I also don’t want dd to suffer so I am trying to balance everything. Thank you

OP posts:
HariboFantastics · 24/01/2024 14:33

Single mum here to a 5 year old, full time monthly wage (think around the 2k mark) with 180 monthly child maintenance, I manage just fine, children are expensive but dependant on your outgoings, any debt, disposable income etc I would say you’re going to be fine. 😊

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