To wonder what you do when you earn too much to qualify for any benefits

[stangel]

But outgoings don’t add up?

Giving serious thought to having a child: monthly income is £2400. Bit mortgage and nursery fees wipe out £2000 of that leaving £400 for bills, food and petrol.

It doesn’t add up, does it?

Well plenty of people do it on less than that. You have to be creative .... how can you get out of childcare .... could you and your partner do shift work so you can care for the child between you. My partner worked nights for years so we didn’t have childcare bills and we didn’t want them in childcare. Obviously it’s sensible to consider your finances but sometimes if you think about things too much you won’t ever do anything. On a 45k income you will work it out and make some scacrifices. Assuming your not in London.

She said MORGAGE and nursery are £2000 a month, not nursey alone

£45k without pension contributions is about 2.8k.

Is it a joint salary?

Take home for someone on £45,000 with no student loan and no pension contributions would be about £2831. I assume OP has student loans and/or is putting a lot into a pension

You'd be able to use tax free childcare on that salary, which would help.

Then other things people do:

• One or both parents drop a day or two. The 5th day is the worst paid day of the week because of the tax system, and sometimes on that day you're working at a loss. Three days childcare on two 80% salaries may look quite different.

• Work different hours to each other.

• Use a childminder not a nursery.

• If childcare and commuting would eat up all or most of the lower earners salary, that person should take the maximum maternity or paternity leave possible, including the three unpaid months plus accrued annual leave. Babies under 1 usually cost more for childcare.

• Compressed hours

Not all of these work for single parents unfortunately.

You remortgage or you move to reduce your mortgage.

She said MORGAGE and nursery are £2000 a month, not nursey alone

Ah yes, I must learn to read more carefully.

A lot of people will start telling you that they manage on much less than that, forgetting that their rent is covered by the housing benefit or the subsidised childcare they receive (and thus shock at the usual rate nursery fees).
You won't be able to afford a baby on a single income of £45K, assuming that you need to return to work. I became a single parent to two under two on around £80K, and it was not affordable, I had to quit.

Can either of you worked compressed hours? I work 4 longer days to have a Wednesday off so no nursery on that day. Also look into tax free childcare. You pay in 80% of the nursery/child minder fee to your HMRC childcare account and it’s topped up by 20%. There is a limit to the amount you can receive each quarter, but that combined with dropping a day in work and not sacrificing any salary due to still working the same number of hours works perfectly for us.

You'd also get £80 month child benefit, and 20% off your childcare bill - it's tax free.

But you have to save up - or remortgage to make the payments lower, or move to a smaller house.

That's a huge amount of money to bring home per month! How much is your mortgage?

45k? Is this a bragging thread?

For goodness sake, depending where you live that can be a little or a lot.

Are you having the baby alone? On a £45K salary?

Or are you having a baby with a DP on a joint income of £45K?

It will make a difference.

And there's plenty you can do to get childcare fees lower.

No it won't work at the moment, but your mortgage must be huge? Can you reduce that even if it means extending it?

Where I live you’d be fine on £45,000 on your own, but would struggle to support a family on that. The minimum family earnings to rent the basic 3 bed I live in is £40,000

It’s a lot on paper but with childcare fees and a mortgage it just isn’t.

It's not really a lot for a family. This is why o many juggles childcare/reduces hours/work opposite hours to partner/change jobs/sahp

I earn 13k as a single parent and don't claim any benefits or get any maintenance, we manage fine.

You need to find cheaper childcare, move somewhere cheaper, sort your bills out so they don't cost you as much, eat cheap food, sell the car, wear clothes and shoes for 10+ years, give up any expensive habits or hobbies, don't go on holiday etc. Most people manage on a whole lot less than 45k.

Name changer you manage on £1020 a month with no help at all?

How?

So is it single income or joint? Are you planning a baby alone or with a partner?

I earn 13k as a single parent and don't claim any benefits or get any maintenance, we manage fine.

You should claim them. You’re entitled to them. No one won any awards for struggling unnecessarily.

Single income - as a lone parent.

Why wouldn't you claim if you only earned £13k? Even if you genuinely could live without it now you could put some money aside for your children's future, university, driving lessons etc.

How much can you afford to save a month now before you have a child if you are very careful for a couple of years?

PerfectlyPetty my nursery bill is indeed 2k per month for my 3 year old and 21 month old. Lots and lots of people have nursery bills this high.