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AIBU?

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Original poster

To think this is a possibility?

75 replies

isthisdooable · 03/06/2017 11:50

First child due later this year. Husband earns £28k before tax and I earn £34k before tax. Take home about £1900 each as I also have a student loan to pay off.

I do not intend on going back full time after maternity leave and doing the sums now suggests that childcare costs are going to take up a huge chunk of my wage anyway.

Do you think we could survive on just my husband's wage and then I'll go back to work in around 3 years time?

Some further info:
Mortgage: fixed at £920 until 2022
Council tax and utilities: £200
Other bills (phones, life insurance, pet insurance, TV): approx £245

I guess that what I'm really asking is if other people have managed to survive on one wage with all the day to day costs that life throws at you? We're not expecting holidays and treats but I'd also prefer to be able to do things as a family from time to time.

I have no idea about family allowance or anything so can't add things like that into my calculations.

Thanks in advance!

OP posts:
PurpleMinionMummy · 03/06/2017 12:07

Yes we managed but everyone's circumstances are different. I don't think you will get any child tax credits but you will get child benefit of £20.70 a wk.

Have you taken into account commuting costs/car mots/shopping/birthday gifts/new clothes etc etc? Do you have savings in case anything big needs replacing? Also bear in mind living expenses will go up slightly if you're at home all day. I think it looks manageable for you though.

PurpleMinionMummy · 03/06/2017 12:08

Although it depends how much you spend on food!

Doglikeafox · 03/06/2017 12:10

Might it be an idea to not decide if you are definitely going back until after your maternity leave, during which time you will be able to see how financially viable it is.

DragonMamma · 03/06/2017 12:15

I think just over £500 a month, after bills, isn't much to live comfortably on at all.

Food and baby related things would probably be £250 a month, leaving you with the same again (probably a bit more with child benefit) for petrol, birthdays, Christmas, activities etc.

I think it's extremely tight and wouldn't do it.

DragonMamma · 03/06/2017 12:17

And you wouldn't get tax credits as I believe the threshold is £28k for one child.

juls1888 · 03/06/2017 12:18

I don't think it's do-able.....we were in a similar boat but with higher earnings and a much lower mortgage (but also had car finance etc). We decided the best route was DH to be stay at home parent to enable me to go for promotion, resulting in a much higher salary which is working for us, but also not lots of holidays and big treats.
One thing to research is if you do decide to give up your job, you can transfer some of your personal allowance to your DH (marriage allowance I think it is called). This gives around £100 extra a month on my salary. Also you should ensure that child benefit would be in your name to ensure you get your national insurance contributions paid. Hope this helps.

Babyroobs · 03/06/2017 12:19

I think it would be very tight to be honest. You would only get £20 child benefit on a household income of £28k, no tax credits or anything.
Could you not consider some evening/ weekend work just to bring in some extra money so that you have no childcare costs.
Also I think you need to think of the possible effect of taking a few years out of your career. is it the type of career you can easily slot back into ? if not it may be worth just sucking up the childcare costs for a few short years.

Original poster
isthisdooable · 03/06/2017 12:23

Thanks for your advice. I don't think it's do-able either but was hoping someone might disagree with me!

I'm a secondary English teacher so one of my options would be to tutor privately. I did this while I was training and charged £30-£40 an hour so a few of these a week would bring in some nice extra money.

Problem with waiting until I'm on mat leave to decide would be that I'd have to pay back anything I'd received, wouldn't I?

OP posts:
early30smum · 03/06/2017 12:26

Maybe see how you feel once the baby has arrived? Also, as a teacher, could you look at a term time only Childminder for childcare? This would greatly reduce the childcare bill? Would your work let you go back 3 days a week?

statetrooperstacey · 03/06/2017 12:28

That would b really really tight if it only leaves you with £125/£145 with c.b a week? I mean prob doable but it won't b much fun and if something unexpected comes along you're fucked basically. are u sure you have factored variables in. Hair cuts, new baby equipment, Xmas and bdays, shoes, coAts, all the occasional expenses, broken fone screens, tv licence, insurance pay out excess etc.
I'm sure u can if you have but I'm not sure I would chose it.
Could b a bit lonely if you can't afford to do anything or go anywhere. also do you and your dh have the same outlook on necessities and priorities ?

Original poster
isthisdooable · 03/06/2017 12:28

To answer the rest of your questions: no car finance, credit cards etc. Both got relatively new cars: no tax on either. Probably spend about £100 a month on fuel, which I imagine will go down a bit if I'm not commuting.

Can definitely slot back into teaching after a couple of years, especially if core teachers are as in demand then as they are now. Currently head of year so also offer pastoral experience so not worried about that.

OP posts:
RedHelenB · 03/06/2017 12:30

£200 a month sounds really low for council tax and utilities.

Original poster
isthisdooable · 03/06/2017 12:32

I think you're right. Will see how I feel when baby if here. Can almost definitely cut my hours down: don't see that being an issue.

I do feel that living life as a hermit because of lack of funds would be miserable. My husband is a policeman so I'd probably be on my own for long/ unsociable hours.

To be fair, keeping my job may also keep my sanity in that regard! Hadn't really though about it like that.

OP posts:
ballerinabelle · 03/06/2017 12:32

I'd go back part time for your sanity.

Original poster
isthisdooable · 03/06/2017 12:33

@RedHelenB good, isn't it?

Two bedroom maisonette: £110 on council tax, £60 electric and £30 water

OP posts:
Cakescakescakes · 03/06/2017 12:36

You only have to pay back the enhanced element of your package. So the 6 weeks at 90% and then remaining weeks of SMP don't have to be repaid.

What I tried was going off on mat leave and saving all of my salary. This allowed us to see if we could live on one wage and also meant if we could then I had the money saved to repay what I owed my employer (which turned out to be not to much as you get an allowance for accrued leave etc). I didn't go back in the end but it kept options open.

Original poster
isthisdooable · 03/06/2017 12:38

@Cakescakescakes that's really interesting. I think the 'enhanced' part of mine is 12 weeks at 50% pay and actually, I have the choice of not receiving that during mat leave but having it as a lump sum when I return to work.

Theoretically, we could choose that option and then it's win, win either way.

OP posts:
honeysucklejasmine · 03/06/2017 12:40

We survive on one salary but it's £35k and our mortgage is lower. I'm a teacher (currently SAHM) too so share your confidence in getting back to work afterwards. However, you might want to consider a bit of tutoring to bring your household income up a bit. When are you due back from mat leave? Could you give back until term end to qualify for holiday pay, and then quit?

SuperMoonIsKeepingMeUpToo · 03/06/2017 12:40

You wouldn't have to pay back the money if you returned to work for a certain period of time, I think it's 6 months, but I'm not sure.

Have you considered becoming a childminder? That'd bring in a bit extra, too - maybe £50a day per child. Along with some tutoring, I reckon you'd be okay.

IppyDippyTippy · 03/06/2017 12:41

It is doable, but it's not easy. I'm a single mum with two young DC, and I survive on less than £500 a month. However, it may not be as easy to get back into work as you might think. I've been jobhunting for a year now, and nobody will even look at my CV because I took time off to raise my DC.

EatTheChocolateTeapot · 03/06/2017 12:43

Yes it could be doable but just about. DH gets 30k before tax, our rent is 750 and we manage to make some savings (2 DCs and an expensive pet).
We are very frugal, DD is breastfed and clothes are mostly from charity shop, etc... I am raring to go back to work but at 16 months DD is not ready to go to nursery for full days IMO.

chickenjalfrezi · 03/06/2017 12:48

For argument's sake, the £1,900 you take home will need to cover childcare while you're at work and depending on where you are a FT nursery place (most expensive option) would be £1k a month for say 2 years until free hours kick in (to some degree). So you'd be earning £900 a month extra AND would be able to spend school holidays with your child even if you still needed to pay to keep the nursery place open.

It's an absolute no brainer for me, use definitely go back to work and enjoy the benefits it does give you rather than focus on cost of childcare and missing time at home.

princessconsuelobananahammock · 03/06/2017 12:51

You'll be in huge demand as secondary English but I'd be concerned about being out of a school for too long, think how much things have changed in the last couple of years!! Can you negotiate part time with current school. In my area you'd hold the cards as an English teacher.

RedHelenB · 03/06/2017 12:52

Yes your bills are cheap but may go up a bit after baby.

Captainj1 · 03/06/2017 12:54

I would wait until baby is here and you're on Mat leave to decide. My PFB was an absolute effing nightmare baby and I couldn't wait to go back to work 😂

He's a fantastic, smart, well behaved 6 yo now and his sister wasn't half as much of a nightmare (although second time I didn't have the same delusional expectations about a mat leave spent on Costa reading the paper whilst a baby slept peacefully next to me in a pram) 🙈😂

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