Mortgage Rate Rises

Holiday clubs aren't that bad. Like £20/day or something which is a lot cheaper than nursery.
adam cool dude said:
We both work full time jobs but work around the child. We never paid for childcare with either child. For the first child I worked nights and her days. I slept while the child was at school and with this one we currently work opposite shifts which means we only see each other in the evenings or on holiday and will be like that for another 18 months. Once my daughter gets her driving licence next year she will do the school run when my missus is working and I will go back to Monday to Friday. My daughter gets money from us which is more than she would get from a part time job and less than it would cost us for childcare so is a win win for both parties as she can enjoy her weekend without working a part time job.

This whole myth that you cannot bring up children without childcare is all about what sacrifices you are prepared to make. Both our parents live abroad too so no help from them either.
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You can bring up kids without childcare but it might not be optimal. Like, working nights or opposite shifts would mean one of us would have to change career, probably take a pay cut etc so the savings from not using childcare would be offset. Or my wife could quit her job etc. You can make sacrifices to go without childcare but there comes a breakeven point where the financial cost of it may cause an issue (especially in the context of this thread i.e. mortgages, you might prefer to earn an extra £2k takehome with £1k childcare fees so you have a grand to put towards the mortgage, etc.

Obviously we optimise where we can, the days I'm not working in London I take the kids to school rather than use a breakfast club, my eldest is now responsible enough to walk himself home after school on days I am WFH etc. But fundamentally it's a problem if you have two parents working '9-5' or similar in roles that are not enitrely home based, especially when schools are closed.
 
HangTime said:
Holiday clubs aren't that bad. Like £20/day or something which is a lot cheaper than nursery.

You can bring up kids without childcare but it might not be optimal. Like, working nights or opposite shifts would mean one of us would have to change career, probably take a pay cut etc so the savings from not using childcare would be offset. Or my wife could quit her job etc. You can make sacrifices to go without childcare but there comes a breakeven point where the financial cost of it may cause an issue (especially in the context of this thread i.e. mortgages, you might prefer to earn an extra £2k takehome with £1k childcare fees so you have a grand to put towards the mortgage, etc.

Obviously we optimise where we can, the days I'm not working in London I take the kids to school rather than use a breakfast club, my eldest is now responsible enough to walk himself home after school on days I am WFH etc. But fundamentally it's a problem if you have two parents working '9-5' or similar in roles that are not enitrely home based, especially when schools are closed.
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I think it is more aimed where the mother stays at home full time. You can find places that will do mother hours shift which is better than nothing. Will still bring in circa 12k to the household.
 
neocon said:
Yes. I think I'm the end she's going to realise that she has to work and not be picky, but I have to let her figure that out.
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We were fortunate that we had the inlaws for some of the child minding. But wifey's whole 'career' has been part time which she has no intention of changing.

It is a balance though - she does 90% of the cooking and i do very little housework, so when i'm home, i can chill.

She deffo could earn more, do more hours etc - but it seems to work for us. Just don't let it build up to resentment over time and understand that she is working at home by doing all the other stuff (if she is, don't be taken for a mug either!)

Sounds like you have a plan, so fingers crossed it works out.
 
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MatsyLR said:
Depends on quite a few factors. I'm on minimum wage pretty much and I can save over £700 every month with no effort after mortgage, council tax, food etc. My monthly bills are only around £700 ish.
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That’s incredibly low for rent / mortgage/ council tax / elec. gas / broadband / food for a month. In fact can you break down your costs?
 
ColdAsIce said:
That’s incredibly low for rent / mortgage/ council tax / elec. gas / broadband / food for a month. In fact can you break down your costs?
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MatsyLR said:
Mortgage £302 (saved a heavy deposit, moved in February and will be mortgage free in around 8 years with overpayments of 10% each January) just a small 2 bed semi, fine for my needs
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Council tax £92
Water £14
Electric and gas £40-50 (octopus tracker) my standing charges are half my bill.
Boiler insurance £20
Internet £27 (got £180 in cashback though...)
Food around £80
Petrol about £40 per month if that
Phone sim currently 1p as its jump between lebera and lyca on we whatever offer they have for 6 months (and get cashback to do it)

Building and contents £10 a month but paid annually
Car insurance £50 but pay annually and will get refund of around £200 at the end as I'm on By miles as I don't drive much
Car tax £15 but pay annually
For my car I bought it outright so no monthly payments

Come out with roughly £1500 per month after taxes. With bonuses on top of £50-500 depending on performance but never gaurenteed
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Sorry I actually saw your break down when I realised I was about 5 pages behind on the thread. Just seen the deposit you saved etc. did you live at home with parents to save?
 
This is my monthly breakdown

Mortgage £838
council tax £122
Electric and gas £100
Water £37
life/income insurance £60
Internet £20
mobile £6

Food + leisure ~£450
Petrol £80

Building and contents £440/yr
Car insurance £650/yr
Car tax £170/yr
Car N/A (bought outright)
 
This is ours, all monthly unless stated

Take Home = 3100 (me) + 2000 (gf)
Mortgage = 905
Council tax = 200 (10 months)
Electric/gas = 115
Water = 30 (I think)
Internet = 16
Mobile = 5 (bought outright at 500)
Food = 250. I'm not sure. It varies.
Home insurance = 180 a year



Holidays = 3000-6000 (a year, ramped up massively)

Car insurance = 200 a year (not sure on this one, gf does it)
Car tax = 160 a year (I think)
Petrol = very variable. Probably 100-200 a month.


No loans at all.
 
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