Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

Cost of living

Stretching your budget? Share tips and advice to discuss budgeting and energy saving here. For the latest deals and discounts, sign up for Mumsnet Moneysaver emails.

Flip

Original poster

how much to live on?

21 replies

nearlyfinisheduni · 09/08/2012 19:26

how much do you need to earn to live on? I know this can depend massively on location etc but a rough idea would help. I would like to have children soon but want to make sure we can afford it!

OP posts:

CamperWidow · 09/08/2012 19:48

Hahahahaha!!! You can never afford kids!!!!!

We have 2 DD's under 3. We have a £700 mortagage. W struggle but just about get by as long as nothing blows up.

But seriously. If ever anyone started thinking could they afford kids, no-one would have any.

EleanorHandbasket · 09/08/2012 19:51

This reply has been deleted

Message withdrawn at poster's request.

BonkeyHasGOLDMollocks · 09/08/2012 19:51

You will never have kids thinking like that.

There is never enough money, its never the 'right' time.

Original poster

nearlyfinisheduni · 09/08/2012 19:54

thanks for the replies, what about work though, do you just manage even not on a good wage, my partner thinks you just do!

OP posts:

BonkeyHasGOLDMollocks · 09/08/2012 20:01

He's right, you just 'do' . :)
You really cant plan these things because you have no idea what will happen in the future, or how you will feel.

Fwiw, we manage on one not very good wage. Its tight and we have to be careful, but we get by.

It does come in handy if you have some sort of back up fund though :)

Original poster

nearlyfinisheduni · 09/08/2012 20:07

thanks bonkey. we both work full time at the moment, although i am not in a well paid job as unable to find another job after uni. my plan is to maybe have children soon as there are a lack of graduate jobs and maybe do further study in a few years to pursue a career

OP posts:

StaceymReadyForNumber3 · 09/08/2012 20:12

These people are right there is never a right time or enough money.

For money generally people live to their means. So they don't really see how there can be enough to support a child too. But your DP is right, you just cope. I've survived with 2 dcs on very little when XH left, they actually don't need much except a roof over their heads, food In their bellies, clothes on their backs and love.

Original poster

nearlyfinisheduni · 09/08/2012 20:16

its more the not working full time so not having that money coming in that would worry me as i know babies don't really need to cost a lot

OP posts:

Mum2Fergus · 09/08/2012 20:33

Agree that you just 'do'! Its not an exact science...we have a joint income of over £75k, little debt (credit card tarting that I'll pay off with savings when 0% int period ends) and we have a good life...however I can recall managing on less than £105pw too. It maybe felt like it at the time but looking back I dont recall feeling hard done by...as my Mum says - it doesnt matter how much you have, you'll always find a road for it...

Original poster

nearlyfinisheduni · 09/08/2012 20:38

hi mum2fergus,we have little debt too and it should be paid off in less than a year so i suppose its one less thing to have to pay out for!

OP posts:

CamperWidow · 09/08/2012 21:04

We manage on one not very good wage. We have nearly cleared all other debts so hopefully things should get a little easier. If I were you, I'd look into things like freecycle for second hand cots etc, re-usable nappies - you will be doing loads of washing anyway - mums and tots groups are usually good for a cheap cuppa/snack and a chat. There are lots of ways to stretch what you've got. I'll admit there have been times when I've skipped meals to make sure the kids have eaten, but they won't know that and I could do with losing some weight!

pollyblue · 09/08/2012 21:38

If you're fortunate to both be working full time now then try and save yourselves a security cushion for when the dcs come along. Save as much as you can now, and keep debt (aside form rent/mortage) to a minimum, ideally clear it completely. When your income is reduced you'll just learn to cut your cloth and 'do'. In the early years at least, children cost really as much as you're prepared to spend. It doesn't have to be expensive, esp with Ebay etc for bargains.

OneLittleToddlingTerror · 10/08/2012 06:23

You will never have enough with children! To give you an idea of cost, it is £900 here for full time nursery. I assume you might need a bigger house, or save up for one, unless you already live in a family home. Think about moving into good school zones too.

As for postgraduate studies, will it actually improve your chances at jobs? In my field, it's definitely experience that's more important, as long as you have a degree. You can keep your skills current still by switching to part time.

Original poster

nearlyfinisheduni · 10/08/2012 18:42

i'm thinking postgrad study as there aren't any jobs associated with the degree i have. Nursery costs are scary!

OP posts:

OneLittleToddlingTerror · 10/08/2012 19:23

I did 4 years of postdoc and before that a phd. So I'm quite cynical about universities selling degrees. They will always tell you it's a good idea and that it will lead to opportunities. Its in their interest to sign you up afterall. Have you researched the careers you want to get into? What kind of qualifications do those in the jobs have? How do they get there? If there are job abs, do they ever say a masters an advantage?

Original poster

nearlyfinisheduni · 10/08/2012 19:26

i was thinking of doing a masters to qualify me for a particular field, health related like my degree but impossible to do without postgrad

OP posts:

FreelanceMama · 10/08/2012 19:49

It depends on your lifestyle too. We chose to stay in our 1 bed flat as it's low rent as it allows us not to worry about childcare - our son's 6 months old, my partner's off till January on additional paternity leave, the statutory pay runs out end of September so we'll live off what I can earn freelance. It's a squeeze and we have to be careful and we can't do the whole decorating a nursery thing, but that's how we wanted to parent.

When we move to a 2 bed, it'll have to be to a new town where we can afford to both just work part time. You have to work out what's important to you and what you're prepared to compromise on. We borrowed loads of stuff, bought off ebay, improvised and kept things simple.

You may be able to study part time? Do get some good unbiased advice before you pay for a PG course though..you several times I thought I needed an MSc or a PhD and have then found their are other routes to the same destination.

FreelanceMama · 10/08/2012 19:51

Ahh typos! Typing with one thumb again!

Original poster

nearlyfinisheduni · 10/08/2012 19:57

i'm thinking of occupational therapy and think masters is the only route. Obviously this is all subject to change, anything could happen in the next few years!

OP posts:

FreelanceMama · 10/08/2012 20:08

that's a v good philosophy to have You never know what might happen. If you both really want a family now, then maybe now Is the right time and see what you both want for yourselves careerwise later. Having a baby really changed what my partner wants from his career e.g. Thinking of going freelance too which I don't think he'd felt able to before our baby shook our snowglobe!

serin · 15/08/2012 23:10

Hi, I am an OT, you don't need a degree to get on the course, I have had students recently who got on the course with just A levels.

Be sure to check out the job situation before you apply (Have a look at the NHS jobs site) where I am in the North West there are nowhere near as many jobs as graduates and the situation is similair for physios. I think other areas of the country fare slightly better though....

Would you consider OT assistant instead? The pay is actually not that bad and at least you would not gather more debt paying for training.

Nursing is another alternative.

Flip