How much do you need??

RachandJack wrote: My partner earns around $400 a week after tax plus about $200 from good old Helen (I think) and we do fine. We always have food, the kids wear clean clothes and we are warm. I don't understand how 40k isn't enough we would be living like kings with that sort of money.

 

You actually get more cash in the hand than someone who earns $40k (after tax and kiwisaver).  Assuming they don't have a student loan and pay 4% into kiwisaver someone on $40k gets $589 cash in the hand.

Edited by MrsMojo

MrsMojo wrote: Oh gosh, how embarrassing - although the post was taken out of context (the person I was responding to had previously said she uses the dryer regularly and has 2 mobile phones and wants to keep both as she uses both etc I should have really clarified the statement though plus looking at the WFF payment table her partners income is actually somewhere between $0-$36k).

So sorry... I really didn't mean to embarrass you! I've been worrying about money a bit too much, I think, and I just had a wee panic

Edited by Hopes

I personally couldnt live (and support another adult and Isabelle) on 40k ... we pay more than half that on rent ...

But we live in Auckland and chose to live in an inner city suburb so I can be close to home....I presume if we lived further out it would be cheaper, but then again Id have to fork out for fuel

We have always spent = to what we earn. When we lived in London for 2 years and didnt have any kids, we earnt heaps and spent it! I have boots and jackets that cost over 100 pounds each, and a bra/undie set that was 60 pounds, we ate out all the time, went out conutless holidays etc! I didnt think twice about these purchases at the time, but now they seem extremely extravegant!

I havent worked at all for almost 2 1/2 years, but we cope fine on DH wage + WFF. We get $146 a week from WFF, and Dh earns $650 a week after tax, up until a year ago he was getting quite a bit less too, with no chance of overtime. He does do at least 5 hrs overtime most weeks as well, and sometimes more. Plus he now has a work van which we can use weekends, so that saves us from the expense of running 2 cars.
We do get help from MIL too- she buys almost all of Islas clothing and always has- we just buy shoes/socks/singlets/hats, so thats is a massive help.


Edited by Kellz

When we were in SA and heard what people said babies cost I really didnt know how we were going to afford it. I was still studying and didnt work. Hubby was working but not earning a huge salary by any means (he should have been paid a lot better for what he was doing but couldnt get out but for his age he was earning good if that makes all sense).

I was really freaked and worked out budgets and how much a kid will cost us. Got pregnant and worried even more about how I was going to afford this kid and how we will make ends meet and later buy a house ect. Child came and I realised it is all relative to what you needed. Bought her clothes at cheaper places and everyone commented on where did you get that. That is so cute. Didnt see that (obviously in the upmarket shops they were buying).

She was playing with stuff around the house and toys we bought now and then but not nearly the stuff you get for babies here. Got over here and he did earn a nice salary but not as much as someone with his experience (due to us being new here and not having kiwi experience). Got 3 increases in 2 years and to be quite honest we cant afford a house as prices are ridicilous over here in auckland but at the same time we are not getting anything from the government (residents now).

But a child can cost you as much or as little as you want. I started looking this year at how much my child has now. She has toys in the lounge, her room taking over the study here and there and the garage is full of toys packed for the next child and waiting for her for Christmas and she is not even 3 years old yet. It is actually too much. What they play with it now and then but not that much. She has a few favourite toys and they usually are not the big expensive electronic toys.

So next year it is experiences for us. But really they cost a lot less than what you think. As babies I feel they need a place to sleep, something to eat or drink and nappies. And toys can be a wooden spoon and a pot ect. They dont need all teh fancy baby stuff and you might use it for like 6 months and then it gathers dust.

You will be totally fine.

MrsMojo wrote: RachandJack wrote: My partner earns around $400 a week after tax plus about $200 from good old Helen (I think) and we do fine. We always have food, the kids wear clean clothes and we are warm. I don't understand how 40k isn't enough we would be living like kings with that sort of money.   You actually get more cash in the hand than someone who earns $40k (after tax and kiwisaver).  Assuming they don't have a student loan and pay 4% into kiwisaver someone on $40k gets $589 cash in the hand.

Yes but they would also recieve some WFF too

i read through other threads about money a while back and was thinking to myself! "gez why are these people saying they cant afford! they earn enough!" but then looking into it further! i just cant! fathem how much a mortgage costs in places like auckland etc!!!! wow! i can see why they say that its hard to live on one income with a mortgage of $400-$500 PW etc!!!

Our mortgage is $260 PW and we have a lovely house on a huge section between new houses! (granted we are still in Kawerau regardless! lol)
We live on $900 PW (DH income and WFF) and some weeks we are short!!!??? i need to get my A into G and be more vigilant about saving etc!!

I definately think you spend what you earn!!!

I'm a bit worried about the adjustment as joint we earn nearly 100k and we don't have a mortgage. I earn more than DH and I also loose the company car (gas incl) and the company Visa when I go on leave. It's all a bit scary but I took all of this into consideration when I took 6 months rather than three. I'm sure we'll be ok, I just have to learn new ways not to spend money lol. It's going to be hard cause if I see something I like, I've always bought it but now I'm thinking...."That's 5 packets of Nappies" or "Baby food for a month".