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Adoption

Here are some suggested organisations that offer expert advice on adoption.

2 parent 2 child family - SAHP, salary, other things...?

5 replies

KumquatMay · 18/09/2014 13:15

DH and I are keen to start the adoption process soon and are thinking forward to finances/plans for home life etc. Wondering if anyone has any advice/input for me...
We would really like to adopt 2 (under 4yrs) siblings and would really love one of us to be a SAHP. I'm a mature student (early 30s) and graduate with my MA next year, DH is in a stable job earning about 30k.

DH is struggling with the work/life balance of his job, would make an absolutely incredible SAHD and actively wants to do it. I think he would naturally be better at it than me and it's a great time for him to take a career break (he is amazing at his job but doesn't want to progress into management so has hit the ceiling pay/progression wise). As I've been studying for the past 4 years, this would also be a great time for me to get back into work. I think I definitely could be a SAHM, but I could see so much benefit all round from DH doing it, even for a few years.

However, although I have more skills than the average graduate (due to more life/workplace skills/qualifications), I can't see myself earning an equal salary to DH's current one. We have a very modest lifestyle in the North East (£350 fixed mortgage, one economical car, happy with no foreign holidays etc) but are trying to figure out what is the minimum income we could happily live off. Basically, there'd be so much benefit to be had from DH becoming a SAHD but it could totally be negated by the stress of never being able to afford bus-trips or little treats here and there. We don't want to be rich, but I also don't want to never be able to take our kids swimming or out for an ice-cream!

Sorry for the mammoth post, would really appreciate any advice/input/thoughts on any of this - they money thing, the SAHP/work-related stuff too.

OP posts:
KumquatMay · 18/09/2014 13:16

Sorry for the long post, thanks to anyone who reads it!

OP posts:
TheFamilyJammies · 18/09/2014 13:37

This reply has been deleted

Message withdrawn at poster's request.

Italiangreyhound · 18/09/2014 23:34

Hi KumquatMay congratulations on considering adoption, it is exciting and life changing.

In terms of your budget I would start with what you spend on the two of you and work it all out onto a spreadsheet; be honest, include things you spend on now. If later you decide to cut back on this or that, so be it, you can alter it, but to begin with put everything in. We have done this by having a notebook and writing in everything we spend over a period of time.

In terms of clothes etc you don't buy new clothes all the time but you do buy something annually (usually) so you may be able to work out roughly what you need per month to put aside for when you do buy clothes. Likewise a new car is a rare outlay for us (I mean new to us, we always buy second-hand) but we put aside a bit each month for a car when we will need it and for holidays etc.

So start with what you need for you two, which you may or may not have done.

Personally, to add in the cost of two children the best thing to do would be to budget for the children as best you can, again looking to see what they may cost per month. This will be the best way to work out what your costs would be. Others will be unlikely to be able to tell you because we all probably spend different amounts on different things. So people who are great cooks, producing amazing meals from their home grown veg and whipping up cakes for pennies, may spend less then me! My kids eat a lot of pizza, chicken nuggets too, which are not cheap but are often all they will eat (please do not judge me Grin) and they are huge fans of

these over priced cake bars!

To work out costs for clothes and equipment, I would do the same as you do for your clothes and car. You can get given stuff, that does happen, but not always, and so you may want to investigative costs of second-hand equipment etc and allow for some new things too, (Mattresses for kids should be new).

Do some window shopping and see how much money you would need to spend on general outlay and on ongoing costs in your area. Friends and family will often offer to buy or contribute to big items and toys etc but it is the day to day costs that need to be accounted for too.

Our family has gone up by one, from three to four (by adoption), and I have noticed we are getting through more food and doing more laundry, it's obvious of course. However, if you had asked me before if I would really notice it, I would have said something like "Kids are small, they don't eat much, their clothes are small etc!" BUT you do notice it. Their shoes are very expensive and they grow fast, they grow out of clothes quickly when little.

So they are 100% worth any costs or expenses, and in fact very quickly they become the very centre of your world, but to know how much you would need to support them you will need to do some maths work in your area. Good luck.

KumquatMay · 19/09/2014 14:24

Thanks so much for your input TheFamilyJammies and Italiangreyhound, lots to think about already which is great!

I hadn't thought at all about statutory adoption leave but that's definitely an avenue to explore - that could make a real difference in terms of an increase in monthly income which might get us through the first year or so!

I also hadn't thought about going through expenditure and pricing things up in such detail either, so that's really helpful. Think it will just be a good exercise anyway to work out how much we actually spend now rather than just how much we think we do!

Thanks so much for taking the time to write, really appreciate it Thanks

OP posts:
Italiangreyhound · 19/09/2014 17:11

Thanks KumquatMay, remember you can always cut back and as time goes on the kids will need less equipment and you may well get into good relationships with folks who have kids a stage above yours who will pass on clothes etc. I was given a whole bag of school stuff for ds today. So do not be put off by it but just be realistic about what you spend and might spend. Good luck. They truly are worth every penny! Wink

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