Hi all!
NC as going to expose some of our financials, we are trying for a baby and have worked out our financials which show we would have a total income of about 2.6k per month after tax and with child benefit.
Our current outgoings are about 1.9k per month, which would leave us 700 per month ‘extra’ to pay for all things baby related. We wouldn’t need to pay childcare fees as I would stay at home for a year and our income (this is with that calculated in) and my income would go up again after that.
We live a fairly low key lifestyle but as below on what we spend;
400 mortgage - 2 bed house so we have room for a child’s bedroom.
250 food - includes occasional takeaways etc
100 elec and gas
100 council tax
100 - water, Netflix, House insurance, Internet, homecare, misc house bits
40 - pet insurance for our cat (has claimed before hence high)
100 - travel (I work at home) partner has small commute
130 - Car insurances and tax (cars owned)
250 - joint savings and holiday fund, sometimes goes on things like the ho
300 - fun money, we split this pretty evenly, going out with friends, dinner out, etc
60 - phone contracts
50 - clothes (usually spend in one go every 6 months or so)
If we added 700 a month to those outgoings does that seem enough to look after a baby too?