How much do you need??
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Forum Name: General Chat
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Topic: How much do you need??
Posted By: Hopes
Subject: How much do you need??
Date Posted: 28 October 2008 at 9:10pm
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I didn't want to hijack another thread, so I'm starting a new one.
On http://www.ohbaby.co.nz/forum/forum_posts.asp?TID=21990&PN=1 - this thread, Jo said:
Now I'm worried! How much do you need to have a baby?? Is $40K not enough?  Please tell me it's just that everything's so expensive in Welly, and that that kinda income would be fine somewhere cheap like Hamilton 
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MrsMojo wrote:Replies:
Posted By: fattartsrock
Date Posted: 28 October 2008 at 9:13pm
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There is no such thing as not enough. A baby can cost a little or as much as you like. It is a matter of deciding very early on in the peice about returning to work, budgets, second hand or new etc. You don't need most of the stuff they sell out there, all baby needs is a warm bed and you! (and clothes and nappies) ------------- The Honest Un PC Parent of 2, usually stuck in the naughty corner! :P |
Posted By: FionaS
Date Posted: 28 October 2008 at 9:18pm
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Well said fattarts
Plus, as a general rule, people always spend as much as they have. Not matter what your income, most people still feel they want/need more. If you are used to living within a certain income bracket, you are likely to continue to manage when you have a child. It is all relative to what you are used to. ------------- Mummy to Gabrielle and Ashley |
Posted By: Maya
Date Posted: 28 October 2008 at 9:23pm
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And there are ways you can cut costs - cloth nappies, breastfeeding etc.
-------------  Maya Grace (28/02/03)
 (02/01/06)
The Gremlins:Sienna Marie & Mercedes Kailah (14/10/06)
Lil miss:Chiara Louise Chloe (09/07/08)
Her ladyship:Rosalia Sophie Anais (18/06/12)
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Posted By: BuzzyBee
Date Posted: 28 October 2008 at 9:24pm
| Mothers on the DPB living in Auckland get far less than that (somewhere around $24-$25K ...maybe less) to live on per year and we manage to cope - $40K should be fine, it's all about learning to live within your means |
Posted By: Rachael21
Date Posted: 28 October 2008 at 9:28pm
| 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. |
Posted By: Daizy
Date Posted: 28 October 2008 at 10:08pm
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Same here. Infact we earn even less than that. Im pretty Sure DH's boss is dodge and doesnt even have him on minimum wage We have learnt to make what we have work for us. Money is never really a big issue for us. We are all able to dress pretty nicelt ( Ithink) We have dinners out, and theres nothing we really need that we dont have. Our budget is pretty tight but we do this so we are able to save for the luxury item we really want.
In saying all that, we do live in a pretty unusual situation an are able to save on power and tv/internet etc (living in a tiny flat out the back of my parents) But I think we would still cope just fine living in our own place. At the moment the kids arent too expensive, although I'm sure that will change as they get older. Theres always ways to make it work. ------------- 
 
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We get a bit of help from IRD (which we'd proabably be in a bit of trouble without) Posted By: caliandjack
Date Posted: 28 October 2008 at 10:22pm
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Someone on 40k would be getting WFF help.
DH is on 55k and that's enough to pay the mortgage without me having to go back to work. Means living pretty frugal, but then that's the trade off between working and having luxuries. ------------- http://lilypie.com" rel="nofollow">   [/url] Angel June 2012 |
Posted By: Bizzy
Date Posted: 28 October 2008 at 10:35pm
yep, i am a firm believer of that... 
and agree with fats too! ------------- http://www.myfitnesspal.com/weight-loss-ticker"> 
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Posted By: caliandjack
Date Posted: 28 October 2008 at 10:43pm
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Yup thats true, which is probably why it get tough when you go down to one income, and gain an extra person to care for.
Actually people mostly spend more than they have!  ------------- http://lilypie.com" rel="nofollow"> [/url] Angel June 2012 |
Posted By: cuppatea
Date Posted: 28 October 2008 at 10:59pm
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We thought we couldn't live on one income, as we struggled to live on 2 incomes but once living on less money found that we could. Now we wonder what the hell we use to spend all our money on
I suppose how much income you can live on depends on your circumstances before starting a family. i.e how much debt you are in, whether you have a big mortgage, a little mortgage or big or small rent etc. and the biggest thing is probably what are you willing to sacrifice to stay at home? DH is on a good wage but we have a fairly big mortgage so to stay in our house and me not work we are living on a strict budget and things like holidays just won't be happening until I return to work in a year or 2, but it was a compromise that we were willing to make. ------------- 
 
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Posted By: LittleBug
Date Posted: 28 October 2008 at 11:47pm
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We manage to live on around 30k per year (DH's income) as well as $$ from WFF, and have nothing lacking (we have a car, warm and dressed, enough food, enough for entertainment occasionally as a treat, etc). In saying that, we wouldn't be able to afford a mortgage (we rent a small place), and in the winter, it's a struggle with the power bills (It's hard to heat our place in Dunedin enough for a baby). Not to mention that we get given a lot of hand-me-down clothes, and basically all of our baby stuff was given to us. And we have a pretty extensive vegie garden which helps.
Sometimes it is a little tougher than other times, but we make ends meet. You just have to know what you "need" and what you don't. Of course I can't afford new clothes all the time, and all that stuff... but we still have everything we need, and plenty we don't need. ------------- Chloe (4 years) and Oliver (3 years). |
Posted By: Jennz
Date Posted: 29 October 2008 at 12:49am
My Dh earns bucket loads and we spend it We've been over here for 2 1/2 years and we have only just started saving in the last few months  We had no debt to begin with either. So yeah- we're living proof that you totally spend what you earn!
------------- Jen, Charlotte 7 & Kate 3 
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Posted By: monikah
Date Posted: 29 October 2008 at 5:04am
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we are the same. DH earns quite a bit, he has had 22k in pay rises over 6 months and i still feel like we are cutting it fine sometimes. in saying that our mortgage is $700 a week and we let people stay here for free all the time, long termish (6 months to a year) so i suppose that sucks up quite a bit of money. we are putting $50 a week aside, and everythiing baby related comes from that clothes, toys furniture, school fees etc... so that when he moves into a bed we dont have to find $200 out of nowhere etc... my sister worked out how much she spends on her 2 kids and this amount covers it (her oldest is 7 now) mite be different when they are teenagers and want labels and eat you out of house and home but if you put a little away each week it makes things much more acheivable when you dont have much ------------- 
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Posted By: MissCandice
Date Posted: 29 October 2008 at 6:42am
We live off 40k  ------------- ~ Mummy to a beautiful girl ~ |
Posted By: peanut butter
Date Posted: 29 October 2008 at 7:26am
| We couldnt live on 40K but we have a big mortgage and really dont want to have to sell that. If we did we'd be able to survive on much less. So at the moment things are tight (thankfully DH is earning more than 40K....but nowhere near as much as we were earning when I was working too) |
Posted By: Hopes
Date Posted: 29 October 2008 at 7:35am
DH and I were talking about this last night, and we thought of that too. I mean, there's a big difference between a $250 a week mortgage and a $500 a week mortgage - to cover the $500-a-week you'd need to earn an extra $13,000 each year (after tax!). That made me feel better - at least our mortgage is pretty small. We don't know what we'll be earning when (if!) we have a baby, but it is likely to be less than I earn now. I'm sure we can do it... but have the odd moment of panic! |
Posted By: mummy_becks
Date Posted: 29 October 2008 at 7:35am
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Well we are proof that you can live off under 30K, we can still pay our mortgage and still have food and stuff for us all. It is all about shopping around for the best deals when it comes to food, etc. ------------- I was a puree feeder, forward facing, cot sleeping, pram pushing kind of Mum... and my kids survived! |
Posted By: kebakat
Date Posted: 29 October 2008 at 8:24am
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Babies don't cost much. I put away $40 a fornight from DH's pay to get everything Daniel needs (clothes, swimming lessons, toys etc) and it doesn't even need to be that much.
I think the best thing to do is make a spreadsheet of all your bills and how much you spend on food and add that up, then you have a better idea of how much money you actually need. |
Posted By: MrsMojo
Date Posted: 29 October 2008 at 8:30am
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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). There are families who cope beautifully on a lot less than $40k and families who struggle on a lot more so I guess the key is to learn to live within your means. Why not try living on one income for a couple of months and see how you go? If you do this before baby is here you can identify where cuts can be made before baby comes. Put your income into a inaccessible savings account and just live off your DH's income and see how you go. (ETA: You can use the money you save during this time to buy some super cute MCNs which'll save you even more cash in the long run). I know when we had Michaela we didn't think we could live on just DHs income and so I went back to work. In hindsight I'm sure there are ways we could have done it to allow me more time at home, or at least to go back at reduced hours. This time we will live on just his income (granted he earns a bit more now) and I am confident that we will be fine. -------------  
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Posted By: MrsMojo
Date Posted: 29 October 2008 at 8:44am
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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. -------------
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Posted By: IVFGirl1111
Date Posted: 29 October 2008 at 8:49am
We often wonder how we are going to cope with going down to one wage, we earn reasonable wages and dont have a lot of debt - but then we did a budget from Stacey and I seriously have NO idea where all our money goes! We totally live to what we earn and that is going to change NOW! Lol. 
Someone on $40k and doing the 2% kiwisaver gets $604 in their hand. ------------- TTC 6 years IVF it is IVF/ICSI round one 10 eggs, 8 mature, 3 fertilised BFN IVF/ICSI #2 = 22 eggs! 20 mature, 15 fertilised, 1 fresh transfer and 2 frosties BFN 2 Frosties still in freezer thank god |
Posted By: Hopes
Date Posted: 29 October 2008 at 9:17am
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
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Posted By: MrsMojo
Date Posted: 29 October 2008 at 9:27am
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LOL, no worries Hopes. That'll teach me for not being clearer when I post. Oh and don't panic, you'll be fine. My sis has two kids, pays for transport from Featherston to Wellington for university 5 days per week, plus the cost of course material etc doesn't receive any WFF or support from her childrens fathers and lives on about $15k per year (and still manages to put the kids through afterschool activities like ballet and athletic club etc). She did receive a small scholarship this year which helped. -------------
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Posted By: lilfatty
Date Posted: 29 October 2008 at 10:03am
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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  ------------- Mummy to Issy (3) and Elias (18 months) I did it .. 41 kgs gone! From flab to fab in under a year  http://www.femininefitness.co.nz/category/blog - LFs weight blog
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Posted By: peachy
Date Posted: 29 October 2008 at 11:43am
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Having a baby and going on to one income made me realise just how much money we used to waste, and on what I really don't know!!
We live very comfortably off DH's income and have a rather substantial mortgage in rural Auckland. I was petrified how we were going to afford to have a baby, but honestly we have more surplus money to splash out on things now than we did before we had Lauren and yet our income has dropped by 50% (being what I earnt, we earn't pretty much the same dollars). How on earth does that work, I guess its just because I am more money conscious now, yet before Laruen we would buy things just for the sake of it! ------------- http://lilypie.com">  http://lilypie.com">
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Posted By: Kellz
Date Posted: 29 October 2008 at 1:22pm
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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. |
Posted By: monikah
Date Posted: 29 October 2008 at 2:03pm
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argh i have just worked out our mortgage is 36k a year. holy crap. without paying our mortgage we live off $349 a week which is 18k a year. that is power, fone, life insurance, spending, MySky, food etc.. with the baby added in it will be 20k so only 2k up on what we have now. so depending on what your rent is it can totally be done. my sister has overloaded her kids with toys and presents and stuff they dont need and they are definitly over stimulated wheras DH had hardly anything, not cos they didnt have money, they just werent spoiled and him and his brother and real patient, real calm, chilled out guys who dont need heaps of stuff so i personally reckon simple is better. everyone wants to buy the world for the kids but its not necisarily a bad thing if you cant -------------
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Posted By: SMoody
Date Posted: 29 October 2008 at 6:14pm
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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. ------------- http://lilypie.com"> 
http://lilypie.com"> 
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Posted By: busymum
Date Posted: 29 October 2008 at 9:44pm
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If you want some pointers on getting started,
- put all your income into a savings account and learn to live off your DH's income only - Make up a budget together and learn to stick to it - Even if you only save $20/week (of your DH's income), learn to put something aside for a rainy day so that it's not all spent every week When we started out having kids we had a mortgage and student income. Nowadays we are on one income and it is less than $40K, but it's doable for us and we aren't lacking for anything (except maybe a plasma TV  )
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Posted By: Rachael21
Date Posted: 30 October 2008 at 10:37am
Yes but they would also recieve some WFF too |
Posted By: BessieBear
Date Posted: 30 October 2008 at 12:58pm
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We can live off 40k, our morgage is $350 a week and thats over half over dh's pay, and we get WFF. We also have a bit of savings that we dont let go under 2k for emergencys. When all us kids were still at home with Mum and dad 7 of us lived off $500 a week. that was 5x school fees, 4x ballet class fees, swimming, music, clothes, food power internet, phones.......... i dont know how they did it. ------------- Sarah Mum to, Boy 07/2008, Girl 03/2010, Boy 05/2012, Angel 07/08/2014
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Posted By: BaAsKa
Date Posted: 31 October 2008 at 1:13pm
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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!!! |
Posted By: whitewave
Date Posted: 31 October 2008 at 1:43pm
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I totally agree with what everyone else has been saying, when I got preg, DH started panicking about money - he earns about $37 K (me under $35K). We've got a tiny mortgage compared to most, just over $200 a week, but we're renovating slowly with what money we have, which takes up most of the rest. But we still live pretty comfortably (just try not to waste money!).
Anyway, we'll be on just DH's salary next year, and while it will be tight, I think we'll be fine. Young babies don't need heaps and heaps of toys, and personally think it would be bad for a kid to grow up thinking they can get anything they want when they want it. This way the kid will learn the value of money. I'm buying baby stuff at the moment as we can afford to, and have managed to get the expensive stuff like a cot and stroller 2nd hand off Trademe. Cheaper, and nothing wrong with it! |
Posted By: Danaj
Date Posted: 31 October 2008 at 3:26pm
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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". ------------- http://www.TickerFactory.com/weight-loss/wyI1oWn/"> 
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Posted By: Andie
Date Posted: 01 November 2008 at 8:46am
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Don't stress too much about it Dana and Hopes, it's very do-able! I'm in a different boat in that we started off on one income thanks to a long-term illness , and DH's work was sporadic... not easy times for sure! And that lasted right up until Ella was born! So we both made that adjustment early, but it did mean that we had nothing put away for baby stuff, so that caused a fair bit of stress and arguments at the time! Even still, DH's work picked up, we're both a bit handy with some things, I'm a complete bargain-hunter (never pay full price for Pumpkin Patch I tell you, never! Ha ha). And with a small family income we had everything we needed and our baby had a rediculously nice wardrobe, a beautiful room and too many toys, which at the end of the day are all 'extras' and don't make baby any happier anyway. So yep, it's really do-able! There's some threads around here on tips for saving money for lots of ideas too. I'm thinking they'll cost more as teens than they do now, but of course by then we won't have to pay for baby-sitting ------------- Andie |