Does having 2 kids vs just one make a big difference on finances?

[neighbourschmeighbour]

Just wondering what people’s experiences have been and whether the second has impacted on finances that much, or not made much of a difference?

Does in the short term re nursery fees. Long term also re further education fees.

In between, not really

Yes i guess this is the main cost in the early years. I’m hoping that funded hours will materialise, at least a little bit. That would shape our decision I think

Yes, basically double everything. Childcare, food, clothes, shoes, entry fees, birthday parties, Christmas and birthday presents, cost of hobbies (although they could do less each), school trips, school uniform, cost of learning to drive and going to uni. A bit of saving if you can hand down clothes and share toys.

Of course! Mine are 13 & 11 now. Both eat! Both need to get the bus to school. Both do after school activities. Both needed new football boots & astros at the beginning of term as well as school shoes.

Two lots of everything:
Driving lessons
Support in uni
Brand new trainers
School uniform (if different genders at least)
House deposits
Wedding deposits
Flight tickets
Farm/zoo/theme park entry
Nursery fees
School trips
Swimming lessons

We aren’t huge earners and we could easily afford all the above for one, plus still have enough funds to enjoy & go on days out, holidays, fund good birthday parties etc. Not sure how we’d afford that for two especially if we had an elder in primary school and a younger in nursery, I worry the older one would miss out on things they would have otherwise had.

On the other hand, DH has no siblings or cousins. I have one sister (we don’t get along so see each other extremely infrequently) and all my cousins are much older. If we had an only, they’d have very few possibly no relatives their age to grow up with and to be around as adults. I feel like that’s massive. I’d be more content with having one were either of our extended families bigger, if that makes sense

yes.

I have 2, my brother has 1, and I certainly feel there's a big financial difference, especially once they get out of 'free childcplace' offers and stop having kids meals once out etc. Suddenly a manageable meal out for 2 adults and 2 kids is expensive when it's effectively 4 adults.

Start with one and see how you get on.

We're having a second and a big driver was having a family member their age as noone else in our family siblings is having children.

It's gonna be tight at times but in our vision for our life out child had a sibling and we had two children so will cut cloth accordingly.

We will have less holidays (possibly none abroad some years) , and childcare will be a nightmare cost wise for a few years, but all the costs for us will be worth it to fit the vision on what we want our family to look like. Our house at times will feel too small. The amount children eat and the cost of their shoes will continue to astound me.
We'll buy second hand clothes as we do now and sell what we can on too. I'll balk at the cost of swimming/driving/trumpet lessons etc and paying 2 entries for parties etc.
But it'll be fun and hard but worth it. (I hope)

Money isn't everything. (Tho not having enough sucks a lot and isn't to be diminished as a consideration).

Ask yourself what does your family look like in your head in a few years.

Then aim for that and the finances find a way.

I spent £85 in Clarks on a pair of school shoes and £42 on PE trainers on Monday for DS. They are basic trainers from sports direct.

I find the older mine have got the more expensive they are and my kids aren't particularly into branded clothing or having the latest phones etc. everything just costs more these days.

Driving lessons for example are £34 an hour, Cubs used to be £3 a week!

It will for us, but we've opted for private school! (Eldest at prep school, youngest will start in a few years). Baby classes for the youngest are already costing a lot, and DC1's extracurriculars and holiday camps are starting to be more expensive, so I have to double those in a few years. DC2 will get lots of hand me down clothes and toys though. We like to do activities like swimming, soft play and theatre trips which are going to get more expensive (DC2 can still go as babe in arms and our pool doesn't charge for her yet). DC2 is costing a lot in food already, same as DC1. Not had to pay for a flight for DC2 yet, but holidays will cost more soon.

I have one and I’m happy with being able to give her the life I want, I wouldn’t be able to provide that for two children. If you’re on a high income then sure

We still only have one and thanks to free child places we are still managing annual holidays abroad. If we had a second the cost would be a lot higher.

We waited until our first was in school to ease the finances, kept all the baby things and luckily had another of the same sex so didnt need to buy much in the way of new clothes. It was more for my mental state to cope with two but the financial benefit was great.

I can't really afford second child but wouldn't have it any other way. Itll do my son good having a sibling. You just make it work and I'm good with money.

People have taken your question literally. Obviously we all know the cost is double but I think its doable. Everyone talks about siblings.... it's not just that it's the lack of cousins you have too if you have an only. I have an only myself and I'm also 1 of 4 siblings too!

Personally I would have another OP. I'm best friends with one of my cousins. Shared some of the best memories together.

If you want nice things in your life stick to one. If you want to scrape by and make do have two.

Well two lots of nursery/childcare fees if you need it.

Possibly 2 sets of clothes.
Double school shoes!
Double food!
Double swimming lessons!

I guess, up to 8ish, 2 is not really that much more expensive. It's teens that make a difference! Then it depends what extras they do - sports, music lessons, school trips, scouts etc . And again with the school shoes, trainers, football boots...

Two lots of bus fares.

Next year ds will be too old for a Premier Inn family room - double hotel rooms.

Depending on the gap it's expensive when they get to their teens. Clothes cost more because they want certain brands and they want money to go places with friends then two lots of mobile phones etc.

That’s true actually

yes , more so if different sexes

Yes. Massively so (and mine aren't at private schools). Costs are higher due to them being different sexes and therefore I can't pass down a lot of clothes or uniform.

You obviously have double the cost.
Double the food costs, clothes costs, water costs, any kind of gifts , any days out where you might buy a treat or pay an entrance fee. Double any clubs costs.

It gets FAR worse when they're teens

Yes it does but if they have each other to play with, it's easy to do free and cheap stuff. Like taking a ball or frisbee to the park, playground, even throwing stones into a lake is a fun activity.
If you want to send them to activities then that can be expensive. Especially if they both end up being good at a sport or being talented at something.
Mine were good at a sport so that cost a fair bit. Some clubs are cheap like scouts.
They don't have to have loads of swimming lessons either. You could go together as a family activity.
Days out can be cheap. Beaches are free. There are always deals. We used Tesco clubcard vouchers, blue Peter badges, groupon, we used Tesco clubcard vouchers to get a friends and family railcard.

It's probably more expensive when they're at secondary school. Their clothes, shoes and bags are more expensive. They want to go out, they want more food from outside.

But your finances can change hugely by then. You may have more family income or your dc could get part time work.