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

posted 9 years ago in TTC
  • poll: How much extra money left over each month before TTC?

    $100-$200

    $201-$300

    $301-$400

    $401-$500

    $501-$600

    $601-$700

    $701-$800

    $801-$900

    $901-$1000

  • Post # 32
    Member
    5571 posts
    Bee Keeper
    • Wedding: June 2011

    Right now we’re saving my entire salary each month and living off of DH’s salary. We’ve been living this way since we got married but a lot of the money we’ve been saving just went to purchasing a new car (still used since we wanted to be able to pay for it in full but in good condition and new to us) but our savings are still pretty intact. After the baby is born I will be staying home with the baby. Obviously the amount we have “extra” each month will change when I’m not working but I’d say it’ll be in the $800-$900 range.

    Post # 33
    Member
    1550 posts
    Bumble bee
    • Wedding: April 2011

    After groceries and “fun money,” we have about $400 extra every month, and that is with me not working. I know it’s not a lot compared to these answers, but we get by and can always pay our bills, and still have money for extra things when we need it!

    Also, we could always make that cushion grow by cutting things like cable, or getting rid of one of our car payments. I didn’t really grow up with money, so things like cable and a smart phone aren’t a necessity to me.

    Post # 34
    Member
    1463 posts
    Bumble bee
    • Wedding: February 2011

    DH and I are currently 11 weeks pregnant and although we’re not specifically saving for baby, we aim to save about $1600 each month.  Hopefully by the time baby arrives we’ll have approx $7,000 in our “rainy day emergency” account and about $15,000 in our savings account.  I’m also aware that we spend a whole bunch of money on “crap” like eating out and other un-necessary expenses so we could definitely save more.

    I’m hoping to be a Stay-At-Home Mom for at least the first year (ideally on a permanent basis) and I actually think that me not working is going to save us money.  DH and I both work out of town so with me at home we’ll only be running one car (and DH will hopefully be able to carpool), I won’t need to outfit myself in clothes for work and I won’t be half as tempted to buy lunch, coffee etc if I’m at home.  Once we add on the cost of daycare (approx $250 per week) and me working would actually only give another $100 or so each week.

    Sometimes I feel that it’s not really about the numbers or how much you can save, it’s about having a financial plan and being able to live within your means once baby arrives.

    Post # 35
    Member
    211 posts
    Helper bee
    • Wedding: May 2011

    How much extra we have depends on how much overtime we work. I looked into the daycare center at my work and it is $900 a month so a lot of our extra money will be gone. With diapers, food, setting up nursery, etc I don’t think we will have much left after actually having a baby.

    Post # 36
    Member
    2413 posts
    Buzzing bee
    • Wedding: September 2012

    We have about an extra $1500-$1700/month, we aren’t TTC yet, though. The problem is that daycare is about $1500/month for one child where we live. My mother is planning to retire in a couple of years so I’m hoping we’ll have her for childcare, and maybe Fiance parents a couple of other days/week since they are semi-retired. I’m also a nurse, so it’s possible that I can work at night while Fiance is home…hmm…this is giving me lots to think about!

    Post # 37
    Hostess
    3571 posts
    Sugar bee
    • Wedding: June 2011

    We are not TTC for another few years, but after student loans (our biggest expense), retirement savings, expenses, etc., we our 2012 budget has about $350-$700 a month that goes into savings. It’s not specifically “baby savings,” but that’s part of our thinking. 

    Also, I was lucky enough to get an inheritance from my late-grandma. After paying off a (student) loan, the remainding few thousand was placed in an investment account to help defray future school costs since we live abroad and our kids will probably have to do private k-12. 

    I honestly think it’s important to have some savings or safety net because you never know what might happen. However, I am one of those in the firm belief that you can make yourself afford things if you have to. And frankly, saving multiple thousands of dollars a month (after retirement savings, which i don’t count as the same thing) is not realistic for us.

    Babies are expensive, but there are ways you can cut costs (i.e., breastfeed, cloth diaper and wash them yourself, buy some gear second hand,).  

    Post # 38
    Member
    1145 posts
    Bumble bee
    • Wedding: September 2011

    I live in one of the higher cost of living areas too and daycare is going to be $375 week which is about $1,500 a month.  Yikes!  Right now we have about $2,500-$3,000 grand extra but most of that will be used for daycare and additional baby expenses.  My hope is to still be able to save $750-$1,000 a month which I know would make us extraordarily lucky.   

    Post # 39
    Member
    13904 posts
    Honey Beekeeper
    • Wedding: November 1999

    We are not TTC for a while, but I know we’ll have a big cushion saved up, and would likely be working to save at least $1500 – 2500 a month.  We live in the DC area, where childcare costs are pushing 2k a child, so it might end up with one of us staying home for a few years instead of working.  So, we’d like to save all that money so we can comfortably live on one income. 

    Post # 40
    Member
    510 posts
    Busy bee

    DH is so practical, I’m sure he’ll want to have a certain amount budgeted before TTC…. it’s interesting to read the responses here.  I think we’ll have about $1500 left each month, but our savings is very low right now because we’re closing on a house tomorrow!  Hopefully we can build that back up pretty quickly, bc I don’t want to wait too much longer

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