20weeks! Panicking that we can't afford this baby

[Lauslaw]

Maybe I am just having a mid-term panic but I have found myself fretting recently!
We live in wales and rents are pretty cheap (2 bed with garden ect £500-£600pm) and I have a reasonable salary for the area (£16k) but no savings.
My concern is that at the moment we live in a very small house, just a kitchen/living room, 1 bedroom and a shower room,with not even room to park the pushchair in the corner of the living room! And we are going to have to move to a 2 be property before baby arrives, we will be able to scrape together bond and rent in advance ect but as my partner is self employed and his work is weather dependant I always budget as if I am the only earner and anything he earns is a bonus! I'm really worried that we are not going to be able to afford the rent/council tax/water rates/gas/electric on a bigger property for the 6 months that I will be receiving only SMP and CB, I know obvious answer would be for DP to stay at home and for me to go back to work ASAP but I really wish I wouldn't have to leave my baby so soon!
Has anyone else had a similar experience? We will be fine once I am working again and each MIL is happy to do 2 days childcare each! Just having a bit of a meltdown really!

I'm not sure how much help I can be in that I'm just about to have my first so don't really know about the reality of a newborn! But I was wondering whether there is any way that you could stay where you are, if that would alleviate the financial worry at all. I know a lot of couples who have stayed in their 1 bed/ studio flats for the first year as the baby sleeps in the parents room (live in London) and then you could move once you've gone back to work. I live in flat too and although it's a 2 bed we are trying to be ultra minimalist, there are actually lots of products out there made for small living spaces. In terms of prams the baby zen yoyo folds down tiny and can is suitable for a newborn with the right insert. Good luck!

I would plan to stay where you are for the first 6 months. Baby in Moses basket in your room, small pram (or keep in the car boot if your car is near your front door), a play mat (mine had blankets to lie on instead) and a bouncy chair for baby to sit in is all you really need for that first period. Then move when you have more cash available.

I just want to add to try to help but because I understand your worries too.

2006 I fell pregnant with DS1 and I was only 21 at the time, both myself and OH were both in uni full time. DS1 was not planned at all and this was my worry too. We had rent to pay on the student house and decided to move in with his parents. We both gave up uni and he got a part time job. I gave up work totally.

Great! You may think. It wasnt so easy though. We still had to pay board to his parents. (£80 a week) and still get all our own food, mobile phone bills, contact lenses, all the baby stuff etc etc. Yes we had a roof over our heads, but OH was on £8000 a year. Definately NOT a decent wage, and coz I had given up uni and had given up my little part time uni job when i fell pregnant, I wasnt entitled to ANY SMP or anything. All I got was the £500 surestart grant. :/

I didnt think we could afford a baby, but we struggled through.

I applied for IS (£45 a week) and when baby was 6 months old I decided to get a full time job so we could look at getting a mortgage rather than renting.

We had been on housing list too and kept applying every week as well as going through mortgage process, just in case.

It is much easier once baby is born as the housing will probably shoot you to the top of the housing list as you would need a 2 bed and if you cant afford to rent privately, that is probably your best bet, or, try applying for a mortgage within your budget now rather than when you leave your job to go on maternity. A mortgage could work out cheaper for you in the long run? rather than dead money renting, although you would of course need a way to get hold of a deposit. :/

But also, dont worry too much as you should be entitled to working tax credits and child tax credits which also helped us massively once we had DS1 as well as child benefit too.

Hope this helps, and Im sure you will figure it out, and try not to worry too much. :)

Can you live on your wage alone now? If yes, I would put away anything your partner earns so that you have that extra cushion when the baby is here. And I would echo pps in staying where you are now - the baby will be in your bedroom for the first six months anyway, and you can start looking for a bigger place once you're back at work.

don't forget you will get help with tax credits (depending on your partners wage) and child benefit and also housing benefit if needed.
But i would advise staying where you are until your baby is born then reassess what you finances are. its recommended babies sleep in parents room up until 6 months anyway. you will also be entitled to a 2 bed council property but obv i don't know what the waiting times are like in your area.

Can you stay in the 1bed flat until you managed to save some money?

I have friends in London who live in 1 bed flats with toddlers! Its doable. Just that you have to be super organised with space. Can you buy a pram that can be collapsed and stored under the bed? Or in the boot (if you have a car)

Dont worry, its doable.