SAHM/P question? (personal)

[waitaminutenow]

Going off another thread and because I am extremely nosey...lol
My question is if you are a SAHM (or SAHP)...
How long have you been at home?
How many children do you have and what ages are they?
What does your OH do and what is they're pay (v personal I know!)?
Do you receive wtc ctc and cb?

I don't want this to turn into a bashing thread for or about anyone. It's genuine curiosity of how others live that is all.

SAHM for 1.5 years. DD is 15 months and I'm 12 weeks pregnant with dc2.
DH owns a consulting business and earns anywhere between £200k and £300k a year.
No wtc, ctc or child benefit.

For those asking what the high earners do with their money, I can't speak for anyone else but DH and I put about 95% of our profit back into savings and investments. Our ranch is extremely lucrative at the minute, and has been growing well, but there is always the chance that things could go tits up.

We employ a lot of people who live on houses on our ranch with their families, and they and their families depend on us as where we live its so remote that there is no other work within five hours drive (along often impassable roads).

We're very sensible with our money as its a huge responsibility having that many people depend on you, we owe it to them to be prudent.

Sahp for 8 years
Two children 7 and 4
250k -300k
No benefits, well I claim cb and pay it back for the ni stamp.

SAHP for 4 years
Children -DD about to turn 4, DS 15 months
DH is a hospital consultant, earns around 100k (does a lot of private work + NHS)
No benefits

I think it's very important people know what other women (and men) do earn because some women set their sights far too low and then are short of money. We don't really talk about money in England as it's not the done thing and we don't want to show off but that can people girls growing up think earning £20k a year is what most people earn. although actually it is I suppose if about £23k is the average wage.

Sahp for 12 years
Dcs in secondary
Dh earns £200k+ in the city
No benefits.

I wish we could say we spent it on something worthwhile but the truth is we have fun spending it - eat out a lot, we like drinking, we like holidays....and we like saving for our old age so we can continue, eating, drinking and going on holiday!

I remember struggling on 18k living alone.( It's relatively expensive to live alone)
What do you spend 200k plus on...mortgage free, big pension, buy to let.

I'm still frugal and shop at aldi/ lidl, buy second hand, old car, old habits die hard I suppose.

We can just buy whatever we want, but we don't, were not spenders. If my sister was in our situation she would still be overdrawn. To think we have ten times plus what I had alone is mind boggling really. It not something that happens overnight though it creeps up and you adjust your living costs (house mainly) accordingly.

I've been at home with the kids since our eldest was born - 9 years (almost).

Four kids - 9, 7, 4 and 5 months.

Husband an Army Officer - salary c£74,000.

No benefits.

Its tough to answer but money just seems to disappear!

When we were in UK I think DHs earnings were about 4k after tax and pension contribution. His commuting costs were 500ish a month, mortgage was 1k, he had a post grad loan we were still paying which was 750, credit cards were approx 250, we had council tax of 150, bills another 200 then food, running a car and stuff for kids and it soon went!!

Where we live now is tax free so take home is very high but our rent is nearly 3k a month, school fees are about 20k a year for 2 DCs (no state provision here so private is only option), utilities bill is frequently 500 a month, food is probably minimum 1k a month so again it seems to disappear! We do run 2 cars though and eat out a lot and can afford weekends away, one nice holiday a year etc

I've been a SAHM for 10 years. 3 dc aged 11, 8 and 4. Dh is a senior manager and earns 64k. No CB. I am looking to go back to work soon.

sahm for 2 years.

Dd is 3
ds 1.

dp earns around 90-100k I'm not sure exactly. He is a programmer.

No benefits of any kind except family allowance or whatever its called which dp pays back through his tax return.

"What do you spend 200k plus on...mortgage free, big pension, buy to let."
Well the state steals about half of it in tax for a start! Don't forget we have the highest burden in British history on higher earners ever not that the press often report that.
The half you are left with or just over well 3 sets of school fees would be about £45k in London. Then mortgage of £1m, repayment is going to be about £70k a year (mine was £90k a year interest only at one point - eek). When children are smaller child care full time for 3 will be about £30k. Holidays might be £20k. Pension contributions could be high. The main thing I've spent spare money on in the last few years apart from school fees has been paying off the mortgage which I managed after 30 years last year. 2 cars. Heating and lighting of this fairly big house is £5k a year. It just mounts up but actually as I say above what makes people happy or sad is the same whatever your income level so none of it matters as much as people think.

to add that has only been our situation for the last year.

prior to that it was
me sahm.
dp earning 17k
still no benefits except a small amount of working tax which they made us pay back when his job overlapped with his old job.

mrs l'm assuming you didn't have children then? You would have been entitled to CTC on 17k.
Suppose it doesn't matter now though...

we had one. We put off claiming because he had his own business and proving his earnings was difficult and I was wary as I had heard so many people having been overpaid. We ended up claiming as whilst I was on maternity leave his wage coming in was 500 pcm. six months later he got a better job although we could now meet the bills not be putting them on credit cards. We told them straight away and they said it was ok. 6 months later had to pay it all back. Although the wage was much better due to the costs of two years of not getting much the debts had wracked up. My maternity pay had kicked in and it was all to pot.

I look back now and I'm so thankful that he made the decision to go contracting. We have a very different life although it will take some time to get debts gone and house fixed up after being skint all our lives.

I have been on both sides of the fence with income now so I hope if our good fortune continues I never ever forget how hard times got.

Reddaisy SAHP aren't spending 30k a year on childcare ... not using childcare is kind of the point!

Actually they are in my world. I know tons of senior lawyers with a spouse at home and a full time nanny often plus a housekeeper too! I only contributed because people were saying what on earth does money get spent on if the family income is hundreds of thousands a year.

Self employed management consultants, £380, 000 last year, paid £100,000 in tax. Started with nothing 35 years ago, now mortgage free in £1m London house. Still shop in Lidl, dress kids in Oxfam, drive 23 year old car. Can't get used to not being penniless.

My DH is a SAHP
2 children 4 & 2
I earn c. £100k working in marketing in the city.
No benefits.

We have a big mortgage and have had to spend a lot on maintenance on the house lately, have some childcare bills as DH is studying. We don't have fancy holidays or go out a lot to be honest. I know we are lucky though to be comfortable although not seeing the kids during the week can be very hard at times.

Currently on train to my last day at work! Taking voluntary redundancy from my £60k a year job. Girls are 1 and 3.

Dh earns six figures.

Getting really fed up with people asking whether I have found a new job yet!

Was SAHM for 18 years, then went back part time 12hrsish a week 2 years ago. Not working at the moment but looking for PT again.

Children 28, 20, 18 and 15.

DH a Project Manager for a power generation company.

Earns about 80k.

No wtc, cb etc.

Sorry, didn't answer the other questions. So current household income (with me ft) is over 160k, will be £100k once I am a sahm. Currently childcare costs £22k from net income, commuting costs (mostly mine) £5k. Out of net salary obviously so that eats up most of mine. Going forwards I dont think it will be tight as we will have lost the childcare/commuting costs. Live in a big but old house (needs lots doing to it) large mortgage that we overpay and hope to have paid off within ten years. Drive two ten year old cars (admittedly one is a convertible, but a sensible family one!) and I shop in lidl or wherever sends me a voucher!

Otoh we do like a drink and foreign holidays. Children will probably grow up not knowing planes dont all have lie flat seats, and if they don't get a good state school at secondary we will look into private.

No real idea how me being sahm will actually impact us ( may be begging for a job in six months) but financially between my payout and the saving in childcare and commuting costs it should have nil effect for the next three years.

Been a sahm for past 6 months, previously worked full-time. 1 child in school, 1 working away, 2 SC. DH has own company, high earner (over £150k). Huge tax/vat bills, it makes no difference to our income if I work or not as it gets taken off in tax (I normally earn £35k) so I'm taking a break.

We don't live the high life, money goes on (huge) tax bill, mortgage, pension, cars, doing up house. We do eat out a lot, have weekends away at nice hotels, all our children go on trips/do multiple activities. Maintenance to ex is £35k (plus any 'extras'), they (quite rightly) also live a nice lifestyle/have a nice house. Bigger house, bigger bills. Have been really struggling as a lone parent before I met my DH, am horrified how much money comes in/goes out, still buy clothes off ebay/shop in Aldis/don't do manicures/designer haircuts etc. Live a generally simple life.

To add to what reddaisy said, I'm a sahm (sort of, as I said previously) and I have a live in housekeeper. I also have a cook, although he doesn't cook for DH, DS and I at all, just for the hands.
I think it depends on your set up. I didn't have a housekeeper for a long time, but when she arrived in our doorstep with her daughter asking if we had anywhere they could stay for the night (running from dv) I persuaded her to stay and found something for her to do.
That sounds awful and colonial, its not really like that, she's immensely helpful. I have cancer so on my bad days she's been a live in nurse too, and her and her daughter are like family to us, and since being ill I would really struggle without her.

Moomin...you need a new accountant if your paying that much in tax.