Finances

[drsholmes]

Got my finance meeting next week. There's so much they want to see! I was just wondering what do SWs not like seeing in our bank statements/loans/credit cards etc...??

They like to see that you're not on the breadline, with masses of debt. They want to see you can take adoption leave comfortably. They're not going to judge how much you spend in Starbucks, but if you spend hundreds a month in Majestic, or Paddypower, they may do!

Ok. About six months ago my husband who runs his own business was off sick for weeks and we've been dipping in and out of our overdraft ever since. Is that going to be seen unfavourably or is it a deal breaker and we have to stop the process? No debts apart from car and we have savings but that was for an extension....

Can't you use some savings to get yourself clear of the overdraft.
It is possible they will ask you to pause the process whilst you clear any debt but only if it is significant.

They're just checking you're more or less solvent and more or less responsible.

I wouldn't have thought your current situation would be a problem but it might prompt questions about how you'd manage if it happened again and you weren't earning.

Yes, a tricky question to answer. Has anyone been in this situation?

How essential is your extension? Can that be your emergency cash instead?

When were you planning the extension for? In the nicest possible way it would need to be completed before you were matched.

On the finance front i also worried. But they just needed to see we were on top of things and not eg completely flummoxed by the bi-annual arrival of the water bill. Have you thought about the changes in bills by having kids? More food, more heating, less going out, more clothes for them/less time to shop for you, no travel for carer at home, no overtime for one in work etc etc.

Hi, extension not essential but we wanted it done 2019 so we can increase value of house. Spoke to SW already and she seems happy that we have planned everything.

I have a child already so know all about the cost of children - especially childcare!! My god that was half my wages when she was in nursery!

Building work can be very difficult for adopted children to handle. I now cannot get my fireplace done, as DS couldn't handle a new hall carpet. He hates all bangs, and change to the house.

Childcare can also be very hard for adopted children to handle

They will also want to see that you can live within you means now. Otherwise you will struggle when you have another child and one of you stops work.