How much do you need to earn for 3 kids?

[Allthegoodnamesaregonegone]

When you don’t live in London and have very average expenses?

for arguments sake, I googled and saw the average mortgage is £1400
average heating for 4/5 people is £200 a month (British Gas website)

assume no ‘bad debts’ and no private school

id love another kid, if possible, but I do see on here often on the cost of a third and that being a large factor, so I’d like to understand what is the amount people think you need to earn pre tax to live comfortably with 3.

I have one child on 15 funded hrs who does 4 days in nursery and one child who has full wrap 2 days a week, fees went up for the first time in 7 years. And it’s £650 a month before TF childcare.

eldest is in school.

when they were both in nursery nursery one 30hrs but with wrap and one non funded it was £850 pre TF

what do you do for all the other childcare needed?

how old is your eldest?

ah so eldest in school, sorry missed that

do you both work full time?

It’s not what everyone has but what one thinks one would need with the assumption of very average expenses, that’s different.

But nobody can come up with a figure for that because it requires too many assumptions and a person's attitude to risk. I am very risk averse but I'd rather have two healthy children and loads of savings than just about be able to afford three. What if one of you is made redundant/becomes long term ill/the third child has disabilities that will affect your working?

And I'm surprised that you're only saving £50 a month per child, by the time they're old enough to drive that will pay for about one driving lesson a month. And I'm not convinced you'll get enough from a stocks and shares ISA from just paying in CB to pay for Uni. In fact I'm surprised you get CB, from your outgoings I assumed your income would be higher.

Oh ok, well I don’t think I’ve done that here, I’ve not seen that post so I don’t know

How is your income split? One earner with a SAHP will need to earn much more than two workers to take home the same amount. I'd say you have plenty for 3DC but you'll need to make choices. But it's all about how you cut your cloth and what expenses are worthwhile to you and which you can economise on.

You’re not going to tell us how for family of 4 you got

a 5* AI holiday
and
Disneyland Paris
and
Centre parcs

for £4.5k are you?!

I’m pregnant with dc3 and feel like we will just about be able to afford it in the expensive nursery years.

monthly net pay: £11k
mortgage: 3.5k
childcare and kids activities: 3k
bills and holiday savings: 2k
regular savings: 2k
flex: £500

This is for state primary and a nanny btw.

Sorry, my internet went down.

so my 5* was a last minute deal with tui, we went to turkey and paid £2.6k. My DLP break we self drove, and got a magic breaks deal for £800. Cp did a CP eu and self drove also £800. All in all a few pennies above 4.5k

What other childcare do you mean sorry?

my eldest does 2/3 weeks in club over the summer and it’s £25 a day but that’s the only additional childcare we have :)

We stopped at two thank god we did! Teens are expensive! Then there’s the university fees…

And their CB, opened with £1k, after 15 years it’s about 20k not included growth

its about 1400 a year which x 21k

Dh earns about 10k more than me

yes but on 10 in 9 basis

both full time…. presumably wfh or family help with childcare?

OP… you clearly think you can afford a third comfortably. Have you started this thread because your DH doesn’t agree?

My mum does stay with us one week over summer hols.

we both do 10 in 9 so we get a lieu day which is helpful.

im a worrier money wise, so whilst I think it should be fine as does dh, I do worry I’m missing something, esp as I love my holidays

I have one child on 15 funded hrs who does 4 days in nursery and one child who has full wrap 2 days a week, fees went up for the first time in 7 years. And it’s £650 a month before TF childcare.
eldest is in school.

and presumably work from home to have such minimal childcare?

So DH thinks he’s go for it
and you’re just sussing out the finances?

if that’s the case, this thread demonstrates that you very much think affordable so go for it! 😊

they’re out of the house 4 days a week. Eldest plays at neighbours til 4:30 in exchange for us taking her to dance on the weekend.

i do hybrid dh does too

Exactly… I’ve been known to borrow worry sometimes it’s nice for me to suss If my worries are valid

Personally, I have a higher income and i am only one single parent (two children) and i would not be able to spend as i do now if i had a third child.

But you have different outgoings and seem very confident that can afford it… so really i can’t see anything stopping you!

all the best!

only you and your dh can truthfully answer that and it would appear you have so go for it!

Hm well the main expense for ours is about to be £200k to get a 4th bedroom expensive area....

I think it’s a different scenario as a single parent though, it’s all on you.

i think i can, I’ve done the maths, at least I think and it seems sufficient but this is where I worry I’ve missed something

thanks for your well wishes ps check out magic breaks in nov for dlp offers