If you have 3 kids how do you manage financially?

[Crazedndazed]

Specifically if your household income is 100k and under?

£100k and under?! 😂

That's a mammoth margin. I'd imagine households on £100k are 'managing' slightly differently to those on £30k.

If you have 4 kids and your income is between £100k and £125k how do you manage financially?

If you have 2 kids how do you manage financially, specifically if you live in a 3 bed bungalow in Lynington?

I know plenty of people with 3plus kids, they just don't live in London or put them in expensive daycare

£100 ?

You will do fine if you don't go for a house in London or private schools.

So many variables: location, age of kids, size of mortgage/rent?

We have three kids and earn about 50k between us. Me significantly less as I only work part time since having the kids.
We don’t have holidays really other than once a year camping and maybe one night away in a travel lodge for legoland or suchlike.
The kids all do extra curricular activities, two are at school and the youngest is almost 18 months.
We only eat meat at weekends, don’t eat out very often, do free or cheap days out.

But I wouldn’t swap my life for the world. It will get easier as they get older I’m sure and then I’ll have more money but I’ll miss my babies.

Eh??

We earn significantly less than that with 3 teenage DC and manage just fine thank you!

It’s all relative isn’t it?
We have 3 and technically just over that net not gross (I’m on 45k and DH is on 56k). We manage by both working full time with supportive families and flexible employees. DH works shifts so a lot of solo weekends/bank holiday's for me but means we can juggle work / school / activities mostly between us with some help from our families.
Our mortgage is large due to overpayments so at least 1.7k a month on mortgage alone. We don’t have fancy holidays, we had a 2 week all inclusive last year but it’ll be Butlins this year and maybe something in October, but we are trying to prioritise savings/mortgage (DH has some savings but I currently have 1k in savings to my name!!).
The children do a lot of activities which adds up and the constant juggling while working full time is hard. I would say finances are the less daunting part of it (although it’s easy for me to say when we aren’t struggling), it’s more the time and how stretched we both get. It’s non stop. I don’t moan because I do love it & love the opportunities it gives them but it’s the hardest part about it.

If you compare us (101k) to a family on say 30k then the answers will be completely different. What’s your situation? Maybe then you can get some specifically helpful answers.

But we don’t live in London. We live in rural Lincolnshire where everything is cheaper. We don’t use daycare, grandparents are happy to help out thankfully.
We have a mortgage on a 4 bed detached house with a decent garden.

We earn roughly 60k and live in Yorkshire. We both work part time so childcare costs are minimal. Manage one abroad holiday a year, plus 3 or 4 caravan/camping holidays in the uk, they all do 2 clubs plus swimming lessons. We don't eat out much and big day trips are generally just for treats. We don't have much spare money at the end of the month but dont struggle either, we have a small mortgage and aren't big spenders generally which definitely helps.

You will manage because you have to. When my 3 DC were small I was really poor. I felt really bad but had to say no to DC constantly asking can we have another ice cream?, even swimming was only once a fortnight, can we have X for Xmas? can I go on a ski trip with school? Treats were rare and shared out between DC. I tried to make up in other ways, I'd take them on bike rides with picnics, or to the park and I'd play with them at home too. We'd have one evening a week playing board games. I'd make some popcorn and make an occasion about it. My kids are grown up now but they don't remember I said no to a second ice cream or ski trip they fondly recall the games nights and bike rides.

Ok my situation is 2 dc (1 starting reception in sep, 1 on 15 hrs soon to be 30 in jan), midlands. Mortgage is 1300 due to inopportune time for renewal. Net income 105 base, bonus last year added on 15k but that’s not a given.

wondering how people do on a similar income or less (nothing is a given in life after all).

Just fine! Net income of about £90k between DH and I. 3 kids. We’re more than comfortable.

^ oh and the reason I’m wondering rather than sheer nosiness is that my heart really wants another but everywhere you look here, it’s that under 100k is you can’t afford it but obviously many live very comfortable lives on that or less

Our lives aren’t lavish, but it’s more than fine.

We have got 4 on around 45k joint. We don't eat out, wear hand me downs. Manage a couple of UK holidays per year. Love Butlins or a caravan. Have hobbies but don't get hair cuts! You have to cut your cloth!

We have 4 on one modest salary (I'm a sahm/carer) we also get some benefits.

No childcare so that's alot of money saved. No holidays abroad, no big days out we love things like national trust and nature reserves. All clothing except pants and socks is bought second hand.

Small house so small mortgage and we bought it years ago. Only one car and we buy outright so no lease costs etc.

No haircuts at all?

Net of 105-120 living in the midlands with not a huge mortgage sounds like you would be more than comfortable! You won’t be going on lavish holidays abroad a few times a year (or maybe you will if that’s something you prioritise) but I really don’t know why you would be worrying in regards to finance. Time, yes! Finances no. Are you both FT?

We don’t have a fancy car but that’s not my priority either. I wouldn’t change my third for the world, I knew I always wanted at least three!

It all comes down to what you prioritise. We have a six figure income but couldn't afford to have 3 children the way we want to raise them and live our life, we don't want to have to "cut our cloth" or live frugally. We want to be comfortable. We want a nice house. Holidays abroad. To not worry about school clubs and trips. I want money for myself. You could have 3 children on £20k, no one is stopping you, and you can feel like you can't afford 1 on over £100,000, ultimately only you know the lifestyle you want for yourselves and children.

I’m hoping that mortgage payment will come down when rates settle too when we rate switch/ remortgage at the end of 2025. Also hoping we can move up career wise

but I do love my holidays

we both work 35 hrs, but we can do 9/10 if we request it

Honestly?

A series of unfortunate inheritances meaning no mortgage, income at roughly 50K, SAHM as well, so I have time to shop around, research costs, I have a calendar for when sales are during the year for all sorts but especially school uniforms and shoes etc.
We do a budget every quarter (with receipts) and at the end of every year for the next one, essentially we are ahead by a year.

Smaller things, bulk buy, meal plan folders, batch cook, specific saving pots for Christmas and Birthdays, my hairdressers also do a points scheme so I spread out my treatments to earn a free one at the end of the year.
I also enter crossword competitions which surprisingly have netted me a good few items and anywhere between £500-2K per year in cash winnings.

I’d also think about having 3 teenagers; 3 sets of driving lessons and if they all go to university plus their school trips, hobbies, price of trainers!

This... I remember some of the happiest times as a child was just playing simple games together and being together. Sounds like you did a great job creating memories for them. Plus I think if you have it all as a child really you're not being set up for the real world!

School trips away from home like staying away are a firm no (as are sleepovers) that would be the same 1 or 17 kids.

i think we can manage hobbies, uni IS a worry but that’s frankly because how much more expensive it’s gotten and presumably will continue to be. I can see it becoming a privilege once more and not accessible to the masses unless something changes