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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Finances/do we have another child?

59 replies

MixedFeelings72 · 15/02/2025 23:49

Firstly I am aware we are in a more privileged position that a lot of people so apologies in advance if this comes across as not reading the rooms, but a blasé conversation with DH about booking a holiday suddenly has me spiralling about our financial situation, and I needed to write it down. Will try and give as much information as I can without being too outing. Mum of 1yo DD, recently returned to work after maternity leave, gone back part time at 4 days a week. DD in nursery 3 days a week, looked after by paternal grandparents one day a week. DH working full time, earns less than I do l, no issues (or so I thought), we contribute equally to joint account to cover mortgage and bills, since I’m back at work and earning more I’m paying for DD nursery and most of DD costs (clothes, nappies, toiletries, etc). Mortgage went up with interest rate rises by £800 a month end of last year. Managed to get through maternity leave and pay my share of mortgage and bills/DD costs with my savings and a couple of months at full pay per my company policy, plus statutory maternity pay. Having a blasé conversation with DH this evening about using a companion voucher with BA to book airlines flights for May before voucher expires, and DH says can we afford it? On my salary, yes in theory, but each month his outgoings are less than earnings so he’s slowly chipped away at his current account balance each month. As I said I’m also covering DD most of DDs costs, and so I don’t want to pay for the whole holiday. So I say ok, we can’t afford it right now, we won’t book the holiday, not the issue. But this got me thinking. We were planning to have a second baby this year (if it happens for us, had a chemical last month, possibly a blessing in disguise). I’ll be back at work for at least 10 months before second baby born in theory, so hopefully will have built up enough savings to be able to contribute my share to mortgage and bills along with my maternity pay same as first time round, and nursery costs using savings. But I said to DH, can we actually afford to have another baby right now? Fine, second time round so we won’t have a lot of the initially larger expenses. We haven’t made a decision yet about private schooling, I went to private school but DH didn’t, and I feel some sort of responsibility to give DD the same opportunities in life that I had, so we have put DD in a nursery known in the area for having great success rates for private schooling entrance - at least this gives us the option when the time comes. Obviously it is a few years away, and ideally we both progress in our careers and earnings capacity goes up, and we can afford it. But even then, based on current situation, we couldn’t afford 2 lots of private school fees. DH response to my question can we afford to have another baby was we’ll just sell the house and downsize. Not unreasonable in theory, but we chose the area for schooling and transport links, and there is a price premium attached as a result. And while I may be being unreasonable, it doesn’t sit right with me at this point in life to be taking a ‘step backwards’ and downsizing when actually if we were to have another baby, we probably need to upsize at some point in the future. Am feeling slightly frustrated at DH’s apparent solution being to downsize rather than finding a job that pays more (I know it’s possibly easier said than done), and resentful that this isn’t how I pictured my life - I didn’t think I would be sat here questioning if we could afford a second child (even if we didn’t send them both to private school), and DH talking about needing to downsize to be able to do so. I realise I had a very privileged upbringing, went to private school, got a good job after university and was able to save a good deposit to buy our house (we put in equal amounts towards our deposit). And I also know that the current economic situation means tightening purse strings so we may have to forego luxuries like holidays for a bit. But what was a blasé conversation about booking a holiday turned into can we afford to have another child, and do we need to downsize our house. Am I being unreasonable to have a conversation with DH about retraining to get a better paid job, or taking on a side hustle to supplement income? I don’t want to put undue pressure on him or make him feel like he can’t provide for our family, but I am feeling resentful at where the conversation went, and having to make compromises to be able to have a second child which has always been in our life plan.

OP posts:
NeverDropYourMooncup · 16/02/2025 00:14

Am I being unreasonable to have a conversation with DH about retraining to get a better paid job, or taking on a side hustle to supplement income?

Depends. What would be your reaction if he suggested you went back to work full time and you put the eldest in fulltime nursery?

MixedFeelings72 · 16/02/2025 00:17

NeverDropYourMooncup · 16/02/2025 00:14

Am I being unreasonable to have a conversation with DH about retraining to get a better paid job, or taking on a side hustle to supplement income?

Depends. What would be your reaction if he suggested you went back to work full time and you put the eldest in fulltime nursery?

I’ve considered this while I’ve been stewing over it this evening. It wouldn’t make sense financially. It would put me over the threshold for nursery funding, and I would lose my personal allowance, so I’d be paying a marginal rate of tax on the extra earnings of over 60% having done the sums..

OP posts:
NeverDropYourMooncup · 16/02/2025 00:19

MixedFeelings72 · 16/02/2025 00:17

I’ve considered this while I’ve been stewing over it this evening. It wouldn’t make sense financially. It would put me over the threshold for nursery funding, and I would lose my personal allowance, so I’d be paying a marginal rate of tax on the extra earnings of over 60% having done the sums..

Over the threshold for nursery funding means you're on a net FTE in excess of £100k.

You're fine.

IVFmumoftwo · 16/02/2025 00:21

I am sure you will manage.

annaspanner18 · 16/02/2025 00:22

You need to be on the same page in terms of what you wanted your shared lives to look like. It doesn't sounds like you are.

You 'paying your half' during mat leave when you're birthing and raising a child you both chose to have.. that struck a bum note. For us we saved together to cover the loss of income for mat leave. It wasn't for me 'make up the difference'.

It doesn't sound like he's unwilling, but unable to see a way to change his earning dynamic (I believe private education changes the level of empowerment / individual agency people feel.. he won't necessarily see changing his earning potential the same way that you do).

I wouldn't have another child yet (unless your biological clock is against you) until you are aligned on what you want the next 10 years to look like and where your shared priorities are.. location, private school, holiday, delegation of childcare etc.

Bigcat25 · 16/02/2025 00:25

Just don't bother with private. Just bc you had it doesn't mean your kids need to.

Merryoldgoat · 16/02/2025 00:25

I don’t understand why you contribute equally if you earn more - why are you not contributing proportionally in some way?

CountryMumof4 · 16/02/2025 00:30

I think given the age of your child and the fact you're the higher earner, it might be sensible to wait a year or two before planning a second (if time allows). Your husband may be able to find a better paid job in this period too. While employers have to support (rightly) their employees' maternity rights, I suspect it would be more sensible to continue building your career, as well as your husband his. I'm guessing you live in the south given your concerns - the wage you're on just yourself would be absolutely fine to north.

MixedFeelings72 · 16/02/2025 00:32

Merryoldgoat · 16/02/2025 00:25

I don’t understand why you contribute equally if you earn more - why are you not contributing proportionally in some way?

Fair question. When we bought the house and got our mortgage, we were on similar earnings so that’s what we did. I got pregnant 6 months after we moved, and it was only while I was on maternity leave that DH was made redundant and took a lower paying job, so I was effectively earning less while on maternity, but then I still contributed my ‘half’ and effectively covered most of DD costs plus most of the grocery shopping etc. I went back to work last month, so it’s only really now that we have this disparity in earnings, and maybe we need to relook at each of our contributions.

OP posts:
Newmeagain · 16/02/2025 00:33

It sounds like you keep your finances separate, which is not really sustainable or fair if one person earns a lot less.

MixedFeelings72 · 16/02/2025 00:42

Newmeagain · 16/02/2025 00:33

It sounds like you keep your finances separate, which is not really sustainable or fair if one person earns a lot less.

Again fair challenge. It maybe made more sense when we were on similar earnings but DH is probably earning 25% less than me today. However with me currently covering DDs costs including nursery, groceries, etc, quick back of the fag packet calc shows that in absolute terms, we would end up at a similar end answer if we just split it all proportionally

OP posts:
Eenameenadeeka · 16/02/2025 00:43

If you only work 4 days, assuming that he's working full time, I think it would be more reasonable for you to increase your own hours rather than ask him to get a "side hustle" on top of a full time job? It's you who wants private schools and the more expensive house, so if you aren't willing to compromise on those things then it might be better just to stick with one.

WellsAndThistles · 16/02/2025 00:45

You go back to fulltime and DH goes part time or stay at home Dad?

MixedFeelings72 · 16/02/2025 00:48

Eenameenadeeka · 16/02/2025 00:43

If you only work 4 days, assuming that he's working full time, I think it would be more reasonable for you to increase your own hours rather than ask him to get a "side hustle" on top of a full time job? It's you who wants private schools and the more expensive house, so if you aren't willing to compromise on those things then it might be better just to stick with one.

The additional take home pay would be marginal. We would lose our nursery funding increasing nursery costs by £3-£4k per year for the current 3 days a week. On top of that we would be paying for an extra day of childcare. And I would lose my personal allowance. £25k extra salary would only be £8-9k in my pocket after tax, most of which would be used up by the increased nursery fees

OP posts:
MixedFeelings72 · 16/02/2025 00:48

WellsAndThistles · 16/02/2025 00:45

You go back to fulltime and DH goes part time or stay at home Dad?

As per my comment below…

OP posts:
LaineyCee · 16/02/2025 00:55

You can afford another baby, but if your income doesn’t increase you’ll have to spend less on other things (fewer/cheaper holidays etc) What’s your priority?

Swonderful · 16/02/2025 00:59

Can you have a bigger gap, say 5 years?

MixedFeelings72 · 16/02/2025 01:04

Swonderful · 16/02/2025 00:59

Can you have a bigger gap, say 5 years?

I’m mid thirties, DH is over 40. So I do feel like the clock is ticking. We both ideally wanted a 2ish year age gap to get over the sleepless nights and nappy phase in one, and so they could grow up together. I’m not sure we would try for another if we were looking at a 5 year ago gap

OP posts:
Bournetilly · 16/02/2025 01:10

You can afford another baby, just don’t send them to private school. Or send them to state primary and then possibly private secondary.

Swonderful · 16/02/2025 01:12

MixedFeelings72 · 16/02/2025 01:04

I’m mid thirties, DH is over 40. So I do feel like the clock is ticking. We both ideally wanted a 2ish year age gap to get over the sleepless nights and nappy phase in one, and so they could grow up together. I’m not sure we would try for another if we were looking at a 5 year ago gap

I do personally think a bigger gap makes it much easier as it's very hard when they're both young. It's also easier to spread the cost.

Ponderingwindow · 16/02/2025 01:12

Did I read that right? You kept up your contributions in maternity leave by dipping into your savings? Why wasn’t he covering the expenses during your leave?

MixedFeelings72 · 16/02/2025 01:17

Ponderingwindow · 16/02/2025 01:12

Did I read that right? You kept up your contributions in maternity leave by dipping into your savings? Why wasn’t he covering the expenses during your leave?

Not quite. I had enough built up (saved up?) in my current account to be able to cover my share. So didn’t use what was in my savings accounts/cash ISAs - which is definitely rainy day fund and we pretend like it isn’t there. We contributed equally to our house deposit a few years ago, and I came into the marriage with more ‘savings’ so I didn’t ever question it. DH was also out of work for a few months while I was on maternity (between jobs after being made redundant) but still contributed his half too.

OP posts:
PlummyPlumPlum · 16/02/2025 01:24

I think you can’t afford it but need to really make plans for sudden changes such as the grandparents not being able to help with childcare anymore (as they are also aging and two children may be a handful).

Can you afford the nursery fee increase (although I think they give a discount per extra kid), school fees, cost of living generally with mortgage, bills, groceries to name a few.

What happens if your DH doesn’t want to retrain? I know my personal experience I was so happy my DH finished training and secured a job before we had DC (we are older parents). The hours he had to put in would have made it very hard for me to care of DC (who is a baby that is highly sensitive so really hands on), it would have destroyed my MH to say the least. What happens if your DH is suddenly unavailable as a pair of helping hands, because he needs to study or be away for other work.

I think you can’t pass an opportunity if it is what you planned and wanted and it lovely to give your child a sibling.

We didn’t for many reasons - age, finances, cost of living, lack of support (no help from family or friends ever and boy, did I need some help). I needed to return to work as I lost my identity as a SAHM in that first year.

I hope it works out OP how you would like it too🌹

Drearycommuter · 16/02/2025 01:53

Yes you have enough money for a second child.

Depends if he can develop a side hustle that pays enough.

Does sound a bit miserable for him tho, having a FT and part time job and two young kids tho. I’d prefer to cut back than do that.

CuriousGeorge80 · 16/02/2025 02:01

Wait a year so your oldest is three when your youngest starts nursery, which will make nursery more affordable.

The basic answer is that any couple where one is earning at least £100k (which you would be if full time) can absolutely afford two children. Whether you can also afford the lifestyle you want with two children is a totally different question. Private schools, big houses and expensive holidays (presumably long haul if you are looking for at companion flights) are lifestyle choices.

So the question is actually whether you wish to have a second child given the lifestyle choices you will need to make. And is it fair to ask your husband to retrain for your lifestyle choices, as he is happy to use state schools and have a smaller house. I would be pretty pissed off if my partner told me to retrain because she wanted to spend money on stuff I didn't care about, especially if the reason I earn less is redundancy.

You don't need to pay the premium of living in a great catchment area if you are going to send private.

Your financial set up as described is odd and doesn't sound like a proper partnership to me, I would get that sorted before you have another baby.

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