(Closed) How much monthly cusion did you have before TTC?

posted 6 years ago in TTC
  • poll: How much extra money left over each month before TTC?
    $100-$200 : (8 votes)
    14 %
    $201-$300 : (2 votes)
    3 %
    $301-$400 : (1 votes)
    2 %
    $401-$500 : (5 votes)
    8 %
    $501-$600 : (2 votes)
    3 %
    $601-$700 : (0 votes)
    $701-$800 : (2 votes)
    3 %
    $801-$900 : (6 votes)
    10 %
    $901-$1000 : (5 votes)
    8 %
  • Post # 3
    Member
    2000 posts
    Buzzing bee
    • Wedding: July 2009

    hahaha … We have been TTC for more than 1 year, and we didn’t budget at all before starting. Also my husband was just laid off and no, we haven’t stopped TTC.

    All that to say, I didn’t vote! 🙂

    I just mean that we know we will make it work however we have to! We live paycheck to paycheck, but I am not worried about being able to “afford” kids. We will make adjustments to our lifestyle where needed.

    Post # 5
    Member
    13099 posts
    Honey Beekeeper
    • Wedding: July 2010

    We aren’t planning to TTC for another few years (although financially, we’d be fine now).  We have somewhere between $800-$1000 left over each month after all of the bills are paid.  We could have a lot more if we cut back on dinners out, short weekend trips, shopping, etc.

    Post # 6
    Member
    868 posts
    Busy bee
    • Wedding: September 2011

    @Kkaattii:  I didn’t vote either because I didn’t want to skew the results.  We try to put at least 20% of our monthly income in to savings, so after THAT, the number will be way less than if you don’t factor that in. 

    We aren’t budgeting for baby, per say, but we’re trying to make sure that we feel comfortable with losing my income (I’m planning to stay home) and having a nice cushion so if Darling Husband has a couple bad months (his job is 100% commission) that we won’t feel the effects of it. 

     

    Post # 7
    Member
    5977 posts
    Bee Keeper

    We didn’t budget specifically for the baby, but we have anywhere between $800 and $1,000 leftover each month that goes into savings. Now that we actually are pregnant, we’d like to meet with our financial advisor to go over more real numbers to see what we’ll be able to end up saving after baby. 

    Post # 8
    Member
    1949 posts
    Buzzing bee
    • Wedding: August 2011

    I voted $801-$900. We’ve both got fairly good jobs right now (DH is a nurse, I work in HR for the gov’t), but we’ve got large student loans, just stepped up our RRSPs, and got life insurance. I’m also only on contract, so technically, my contract expires in a few months. After that, I doubt we’ll have more than $100 left over.

    We’re planning to TTC in April and hope for the best. If we get preggers right away, I plan to buy everything (except maybe the stroller/car seat) used. My sister is giving us her crib (practicaly brand new due to a recall), high chair and play pen. So that helps with the big things, and I plan to yard sale the crap out of baby clothes this summer if we are lucky.

    Lucily we have a small mortgage, so we’ll make it work, even if I have to go work at a call center/walmart for a while.

    Post # 10
    Member
    2638 posts
    Sugar bee
    • Wedding: November 2006

    We’re around a grand, I think? But I have to say that a lot of our current expenses will be replaced, not added to. Like, I will not continue to have a personal trainer or go out to dinner with my friends two nights a week or be out shopping as much as I am, nor will my husband be spending money on some of his hobbies (cars, computers, outdoorsy stuff — all expensive).

    Post # 11
    Member
    5977 posts
    Bee Keeper

    @Kkaattii:  So, while I work in a big city, I live in the burbs…and pretty far out. I’m about an hour and 15 minute commute to work each way. So I have small town living expenses with a big city salary. If I worked in HR in the burbs, I wouldn’t be making nearly as much as I do now. 

    My Darling Husband also has his masters in his field which got him promoted quickly. So he also makes a nice salary as well, but is close to where we live. So he also doesn’t have the commuting expenses that I do. 

    With all of that said, we would be handling daycare in the small town community rather than in Philly. It just makes much more sense with my husbands hours vs. my hours and how close he is to home. If something happened to the baby at daycare, I would have to get on the train with him/her where he could just pick up the baby in his car…much nicer. And with the daycare being well out of the city, we get more bang for our buck.

    Post # 12
    Member
    9824 posts
    Buzzing Beekeeper

    Our first? Nothing! We made like no money and made it through, she was never deprived but it was a struggle for us!

    This time when all is said and done we’ll be working with $700 or so a month (yay summer job) after all bills/rent/food/gas etc. for unexpected expenses. We have $1600 in savings, but we also have nothing left to buy for the baby other than some nursing supplies.

    Post # 13
    Member
    5670 posts
    Bee Keeper
    • Wedding: August 2010

    Darling Husband is self employed so we are sort of all over the place. But there are a lot of things we spend money on that we probably won’t once the baby arrives. Our expenses will change somewhat. I would recommend keeping track of how much you spend and on what for a couple of months to be able to make a true budget. Then see what is a neccesity and what can be cut. This will give you an idea of how much you really have left over. And then you have to ask yourself the questions of daycare of sahm. Can you live off of DH’s salary? Or if you child is going to day I would do a little research to see how much day care is per month in your area?

    @KKaattii- Bees in larger cities may have more money put aside because day care expenses can run $1500-$2000 per month. So that’s a large portion to budget for.

    Post # 14
    Member
    2695 posts
    Sugar bee
    • Wedding: February 2008

    The single biggest baby expense is child care for us.  Otherwise food/diapers/clothes are the other main ones. Toys/books aren’t a big expense, you get so many presents.  And I suppose if you don’t have good health insurance, that could be another big amount. But asking such a general question is going to give you skewed results because answers will depend SO much on where you live and what your child care needs are (eg where I live, childcare avetages about $2-3K a month, in other places it is a fraction of that. some people have family to help or one parents already available to stay home)

    Post # 15
    Member
    2000 posts
    Buzzing bee
    • Wedding: July 2009

    @Kkaattii:  We are both terrible with money and don’t have a budget. I def. know this needs to change, especially since Mr. B was laid off.

    It’s not as though we haven’t made an effort to get a handle on our finances — we have, many times, but we are just not good at staying on top of it! Our bills get paid, and we are able to go out with friends a couple times a month, but we have no savings and no money to spend on other “fun” stuff, such as vacations or clothes, other than necessities, most of the time.

    Part of the reason for this is that we are spending so much on TTC right now! I have IF issues and we put $100-$400 a month toward my medical expenses, depending on what treatment we are pursuing and whether our insurance pays for it. 

    Fortunately Mr. B is in a contract-to-hire for a great new job that will help us out financially if he gets it. His contract is 60-days, so in the next couple months we will have a better idea of what our $$ situation will be. Also he is getting a pretty significant chunk of money in severance pay, most of which we will sock away in savings, except for some that we have to put toward medical bills.

    I know that baby needs more than love, and I am confident that while we are not rich, we will be able to provide all the things he/she needs. Our parents will be excellent grandparents (ours will be their first grandchild) and will spoil baby, so we won’t have to. 🙂

    Post # 16
    Member
    928 posts
    Busy bee
    • Wedding: August 2011

    We’re not in the TTC boat at the moment, but we are talking about joining the party in the next year or so. I was wondering abotu this too, so thank you for posting this thread.

    At the moment we’re at the $800 – 900 mark for the month and I’m worried that even that will be too little. Darling Husband has a pretty good job but it’s 100% commission based, so I’ll need to keep working for the steady income.

    It might just be the area we’re in but HOLY CRAP! daycare is sooo friggin’ expensive! Friends of ours just put their 6 mo. old in day care and it costs about $900 a month, not including diapers and food for the little guy. It’s almost not worth it for her to keep working, but she has to for health insurance.

    I’m sure it’s possible to make it work – but it would be too stressful for me to take it paycheck to paycheck. Other friends of ours just had their 2nd child – and she stays home w/ the kids and they somehow make it work on his $40k yearly salary. Which sounds decent, but is practically peanuts in the NYC area. They’re constantly stressed about money; like rent vs. groceries, or utilities vs. medical bills and clothes for the kiddies. I just don’t think I would be able to handle that.

    So, we’re just trying to get our bills in order (getting rid of credit cards and student loans for me, saving cash for DH) and then once we have our house locked in that’s when we’ll TTC.

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