(Closed) We want a baby but ……

posted 8 years ago in Pregnancy
Post # 77
Member
4334 posts
Honey bee
  • Wedding: October 2011

Just looked at some of those baby calculators… total crap, IMHO! I was actually really curious to see what it would come out as, but the calculator itself hardly allows you to make any choices besides where you live and what your income is! Um, hello, there is going to be a LOT more that affects how much a baby costs! (public vs. private school vs. homeschooling, how many expensive activities you will allow your kid to do as they get older, how *much* you will need childcare, etc.) I guess the only thing to do is sit down and calculate it for yourself, (which isn’t nearly as fun…)

Plus, with this whole “how much does a baby cost” calculator thing, what if, for example, the husband makes $50k and the wife makes $50k, and she completely stops working to raise the kids, as opposed to the husband making $100k and the wife who makes next to nothing before having kids…obviously the “total expense” from the income lost is going to be a lot different in the two scenarios. 

My advice is… TRY NOW to start living off of one income. What if after you have the baby you cannot imagine going back to work? Better be prepared. I know more than one woman who is literally heartbroken because she *has* to work while she has an infant. ๐Ÿ™ And if you do want to go back to work? Great! You have more money in the bank and have learned how to live more frugally!

Post # 78
Member
126 posts
Blushing bee
  • Wedding: August 2011

My husband and I have nothing saved. We own our home, make a good salary and go on nice vacations. We also have cable, wifi, two cars (lots of cutting room)….basically everyone’s situation is different and only you can decide what’s best for you. I don’t feel irresponsible not having savings in my account. We have lots of family to help out and we’ll make adjustments. Not just right now but all throughout our child’s life…it’s called budgeting. Do what you feel is best for you and your family given your current finances. But I wouldn’t wait just because you don’t have a chunk of money saved up, neglectful parents don’t ask the questions you are so please don’t let anyone make you believe your actions are irresponsible.

Post # 79
Member
604 posts
Busy bee
  • Wedding: March 2014 - Narrawallee reserve/beach & Mollymook golf club

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@mtnhoney:  We get 3 months paid maternity leave at minimum wage as well as a baby bonus for things like cots and nappies and the necessities. Further government assistance (which we call centrelink) is means-based so how much if any assistance you get is based on how much you earn as a couple (or single if that’s the case), and your assets. 

View original reply
@littleG:  There are always op-shops (you can spruce up second hands quite nicely), and boobies will likely save you a lot of money in terms of food for as long as you wish! (okay maybe not until 18….). Cloth is cheaper in the long run than disposables. There are ways to get by! So long as you don’t insist your child wears versace then you will find ways to cope Smile

Post # 80
Member
3195 posts
Sugar bee

I would say don’t have a child until you can make all your payments, have 3 months of both of your salaries saved up for emergency funds and can afford all the “start up costs” of having a baby. Once the baby gets there you can adjust your spending to match your new income if you aren’t working without dipping into your savings, you just will probably need to start spending less superfluously. Can you do that?

Post # 81
Member
24 posts
Newbee
  • Wedding: July 2012

Mollie-Rose do you know much about centrelink payments after maternity leave? I’m in the same boat as littleG and am trying to plan as best I can – I’ve contacted centrelink but they haven’t gotten back to me yet. I’ll be going on maternity leave and my husband is on about 52K pretax. I’m thinking I’d prefer parental payments over the baby bonus as they go for longer but i don’t know anything about centrelink assistance once that is finished.

I tried to calculator but I’m not sure about family benefit tax a-b and pre-tax/post tax etc

Post # 82
Member
24 posts
Newbee
  • Wedding: July 2012

Mollie-Rose do you know much about centrelink payments after maternity leave? I’m in the same boat as littleG and am trying to plan as best I can – I’ve contacted centrelink but they haven’t gotten back to me yet. I’ll be going on maternity leave and my husband is on about 52K pretax. I’m thinking I’d prefer parental payments over the baby bonus as they go for longer but i don’t know anything about centrelink assistance once that is finished.

I tried to calculator but I’m not sure about family benefit tax a-b and pre-tax/post tax etc

Post # 84
Member
24 posts
Newbee
  • Wedding: August 2013

 

    1. Can I just be honest and say” there is never a right time for a baby” you will always find some reason for it not too be right at the time.Just do it. You will be so happy you did. ๐Ÿ™‚

     

    Post # 85
    Member
    751 posts
    Busy bee
    • Wedding: October 2014

    View original reply
    @littleG:  I know this thread is a bit old but just wanted to give my two cents because I find it very interesting.

    The arrival of a child makes marital satisfaction levels plummet and stress levels go sky high.

    Add to the mix financial worries and the inability to every now and then treat yourself or do something just for you two (such as leave baby with babysitter and go out for a nice dinner) and it seems like a terrible idea.

    Just today I saw a couple I know advertise on FB how they are sending their baby to castings for adverts mainly because they need extra money. They had a child unexpectedly. They live in a studio flat, have to buy everythingsecond hand and then re-sell it.

    Some people are naturally frugal and don’t care about nice clothes, travelling, going out ecc…So I guess for them it works out just fine.

    But in the majority of situations I think it’s a recipe for disaster.

    Enjoy europe and I hope everything turns out for the best!

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