To think having a baby doesn't have to be expensive

[annabanana84]

I have just had my coil out as I thought dp and I would like to start ttc. As soon as I got home from having it out, dp started saying we should use condoms until this time next year as babies are very expensive and we don't have money for one. We both work and have a nice lifestyle but do have to watch the pennies. I am 30 and really, really x1000000 broody. I am pissed off at dp, because although babies do cost some money, we will have 9 months to buy all the baby things, even longer if we struggle to Conceive straight away. We will be getting most of the baby things second hand or off freecycle anyway to keep it cheap as possible. I hate the way dp let me get excited and now wants wait - a year! I don't want to get old and not have children :o( I think babies need love more than money and material things anyway!

Where are you getting your workings out from?

If you are doing it one on large income one on part time you wont get much, both on full time you get a large amount

That was from HMRC's calculator. Childcare element can be up to 70% of £300 a week for a family with 2 children.

That is definitely wrong. How on earth would anyone work?

Two full time parents, earning £30k joint. However much you earn the total childcare element will never be more than 70% of £300 for 2 children.

Has anyonr on actually claimed tax credits as I have been for childcare on around that income for years and have been checked by hmrc and I can assure you that you get considerably more than 50 a week

Here
www.hmrc.gov.uk/taxcredits/payments-entitlement/entitlement/how-worked-out.htm

This is the childcare element of working tax credit
Up to 70% of your costs, subject to a maximum limit as follows:
£175 per week if you're paying for one child
£300 per week if you're paying for two or more children

Since having my first DC in 2003, I have lost in the region of £250,000 in earnings foregone. First was the pay cut in going part time, then giving up work after DC2 arrived.

And that's before we've paid out a penny in buying them food and stuff.

I wouldn't know the detail as we earn quite a bit over £40k joint. DH and I both earn about the same, both basic tax rate payer. (You can basically guess our income from that statement).

surely 70% of £300 for 2 children is £210, so £105 per child?

Even if you are paying for 4 children, it's still only a maximum of 70% of £300 a week. That drops to about 5% once you reach a joint income of £40k.

Yeah so its quite a bit a week even on 25-30k definitely more than 50 on 25k you would get nearly that to stay at home!

PMSL at a " baby only needs love not money". Mmm, unless you plan a life of shoplifting and leaving a child unsupervised then you are going to have a rude awakening.

Whilst baby equipment can be bought second hand, thats only a tiny part of it. Maternity leave, child care, food, clothes, school days/trips, hobbies etc all add up.

As for relying on benefits, given the state are now wise to that its not going to be an option for much longer. Tax credits already are capped to £26k if you have one child and universal credit replaces them soon anyway and appears to have stricter rules. Financially planning for a child before getting pregnant is what most sensible people do to ensure the best possible outcome.

I agree childcare is a huge cost. I would also say that it's not when they are little that they are the most expensive but as they get older and you then have clubs and various else to pay for.

OP - how would you manage to pay for the childcare you would need?

So much depends on the family support you have, childcare costs where you live, the hours you need to work/commute.

Not being able to cover your outgoings means a world of grief.

At a joint income of £25k you'd get about 20% off £300 a week for 2 children. £65 off still means you need to pay at least £235 yourself, if you could find childcare for 2 for £300 a week of course. That's still a huge expense!

hetieene - in rl you get much more. How on earth do all the minimum wage couples work and nurserues stay open.

Olive, your theory them costing hardly anything is only because you are claiming benefits therefore they do cost other taxpayers. If you truly believe children cotpst very little why dont you pay all their costs?

Not sure how you've missed it olive, but mostly families on low incomes struggle at the moment One parent stays at home, both parents reduce/compress hours, people use as much family childcare as possible, work around each others shifts etc. However you look at it, childcare is a major expense, and few people think fuck it, the government will pay 20% (for now).

I think it would be a mistake to plan to rely on benefits. Not a moral judgement btw, just common sense - the political climate at the moment is all about reducing benefits, and I can't see that changing any time soon. So you might get those tax credits now, but in 2/3/4 years, when you still really need them? Who knows.

hettienne - Many couples use childcare to fund childcare. I get well over a 100+ a week, and universal credit is cutting down for sahms but not for dual earners. I deal in that area heavily through my employment.

How will you manage on one income if you cannot save on two. You have had very good advice on here you would be wise to take it. Do a budget for how you would manage on maternity leave it may be an eye opener.

I agree with your op.

You're 30,personally as somebody who only had children because I started ttc at 30 and ended up having years of fertility treatment I think you'd be mad to start any later.

You may end up paying for treatment and a baby on top.

It makes no odds.Said baby will be expensive whenever it arrives and unless only rich people procreate the maj of us just have to suck it up.

They are worth every bit of scrimping.

Olive- what will you do if in 2/4/6 years time the government says no more tax benefits and no more free childcare? What about when your school starts charging double for those cheap or free activities?
Personally I don't think you can afford your children, sorry. Benefits are for those in need at harsh times, not for people to rely in as part of their income