Our first baby is due in a few months and we're trying to plan our our finances. I'm self-employed so not entitled to much in the way of maternity pay but am aiming to save enough to not work at all for approx four months, and then start gradually doing stuff from home. DH will continue working full-time.
I'm convinced our outgoings will go way down when we have a new baby but DH thinks life will be just as expensive in different ways. Starting to worry a bit as it's definitely going to be tight.
We live in London (zone 3) and our household outgoings (mortgage plus bills plus food plus a couple of hundred a month set aside for other household purchases/emergencies/a couple of dinners out) are around £2400 a month. At present we contribute equally to this as we earn about the same. When the baby comes DH will pay about two thirds of this and I'll pay in about £800 a month from money I've been saving since getting preg.
But surely my personal costs - oystercard, buying lunch (and sometimes breakfast) most days when working, general "having a life" - will go way down, DH's will go down a bit too (less socialising) and the extra costs of a new baby won't be nearly as much as these (especially as we're being given a lot of hand me downs in terms of baby essentials and clothes)? Am I being naive? Basically, I'm nosily asking those of you at home with newborns, do you spend more money or less money than before you had a baby?