Budgeting for Baby

[onthefly]

I think you're overthinking things First rule of parenting - nothing ever happens like you plan.
First thing to figure out is whether you want to have kids now. If you do, then everything else will work itself out (not how you imagine, probably, but somehow)

[Janie71]

I think you're overthinking things First rule of parenting - nothing ever happens like you plan.
First thing to figure out is whether you want to have kids now. If you do, then everything else will work itself out (not how you imagine, probably, but somehow)

I think MadB has said it perfectly. I got the advice from all my friends that had children that if you think about it too much you can always come up with a reason not to have children... in the end you just have to take the plunge.

In saying that, because I ended up having to use IVF by the time we had our DD we had saved a lot of money. As soon as we got married we started a savings account for our future child. But we have actually not touched this money at all - we will be using it for her future schooling requirements. We have always just found the money, and we had the added expensive of IVF (so she cost us a lot more than the average child up front!)

Good luck with your decision.
Janie xxx

[Loveinamist]

It took us 7 years to conceive our baby so we had a long time to prepare. Even so not everything goes to plan! DH and I had good jobs and rented in London. We decided about 2 years before the baby eventually came that we wanted to downsize our lifestyle (nothing to do with the baby as we were pretty convinced a baby was not going to happen) So anyway we gradually changed our lifestyle so that we were buying in bulk, living a less extravagant lifestyle and growing our own food etc. We also looked at living somewhere rural , cheaper and simpler than London.

2 years later I finally got pregnant and we embarked on the move to the country with the plan that we would live on one wage.

All well and good but then there was the credit crunch and recession, DH lost his job, our car died and a Tory government was voted in. Sum of all that was the government cut benefits, we ended up having to use our savings to buy a new secondhand car and pay rent etc. Then to compound things that car died and then the replacement car for that also died! Yes we bought three cars in one year! So our savings were gone completely. Then DH's gout flared up and has almost completely destroyed his knee so we are waiting on surgery on the NHS.

It has been terrible and we have had some really low points (buying milk and toilet paper with pennies that we have found on the street and around the house is one!) but in all we have a roof over our head, plentiful food, a free health system and benefits for struggling families etc etc

WE had always thought we would have everything in place for the birth of a baby but the universe decided our baby would come when we weren't as comfortable financially! Luckily I learnt quickly that you don't have to have an expensive pram, cot, bouncers etc. My baby wouldn't go in a pram or a cot so luckily I hadn't spent a fortune on them. An expensively decorated nursery would also have been a massive waste as we ended up cosleeping and a baby doesn't even see all the lovely decals and borders and matching curtains etc. All they want to see is your face!

My point is you can plan all you like for a baby's arrival but sometimes the universe has other ideas!

[luna moth]

We didn't have a car at all when we started trying, and only decided to buy one so we could go on holidays and see my sister more easily. We bought it when I was 7 months pregnant; it's a 13 year old 4 door hatchback. Meets our needs. I wouldn't be in a rush to go out and buy a new one. see how you go - the car yards will still be there after you have the baby if it's not working.

Keep your money stashed, and make it work for you while you wait, that's my advice.

[Alexis83]

Thanks again everyone!

redrobinridinghood: Wow, you guys did go through a few things! My parents ended up with bad luck as well when my sister and I were kids, thanks to the recession that happened in the late '80s. Things were great for them until that happened, and afterwards, well... I don't know how they managed, but somehow they did!

I guess we'll see what happens! It's nice to know, though, that having a family doesn't necessarily mean that things have to be perfect straight off. As many of you have said, you never really know what's going to happen, anyway...

[Jellyfish]

It isn't all financially downhill with a baby either. Babies are cheap, it is children that are expensive! My savings have gone up since having my surprise DD; you go out less (movies, dinner, drinks etc), you usually end up eating cheaper (I don't keep things in the house DD can't have so no chocolate or drinks that aren't water or chips etc) and you don't have time for other things that cost money (reading magazines, DvDs, going to the hairdresser) plus if your baby is one to dislike car trips which is pretty common then you will save money on petrol Oh and I spend more reasonable amounts on clothing and shoes because I know they will end up with paint stains and cake mix streaks! The things my daugher enjoys most cost very little; painting the outside tiles with water, playing with dry pasta and empty tupperware, hide and seek, kicking a ball...

You make it work, I think the important things to budget for is medical (dental, if they need help such as speech therapy or OT etc) and schooling (depending on where you want to send your children and including extra activities).

[Jennifer13]

Oh yeah, this baby is getting very few things for itself, but we have been looking to upgrade from queen to king from the start of the pg!