Benefits payments

mr_eddy

The wife and I are planning on starting a family as we are both closer to 40 than 30 so really need to get moving.

I earn £19k and wife £23k, we are both in full time work with no dependents and not disabled or in receipt of any other benefits.

I struggle sometimes with only £150 left a month after mortgage etc as I have £230 loan payment each month for a load of stupid credit card debt I consolidated last year, big mistake spending in the first place but at least the loan is at a fairly low Apr (4%).

According to the gov tac calc if we had a kid based on combined income of £42k we would get literally nothing, I though everyone gets at least £20 odd quid a week child benefit ?

Bear in mind we would have to shell probably £200 a month for nursery.

My sister and her husband both work ft but have a combined of £60k and they got some credit so how come the calc site says we would get squat ?

Any thoughts ?

mr_eddy

Edit £200 a week nursery

pblakeney

Thoughts? Sensible to do some planning but if everyone did parenthood based on money the human race would come to an end.

Frank Wilson

PBlakeney wrote:

Thoughts? Sensible to do some planning but if everyone did parenthood based on money the human race would come to an end.

Or based on other criteria as I mentioned in another thread.

Frank Wilson

mr_eddy wrote:

The wife and I are planning on starting a family as we are both closer to 40 than 30 so really need to get moving.

I earn £19k and wife £23k, we are both in full time work with no dependents and not disabled or in receipt of any other benefits.

I struggle sometimes with only £150 left a month after mortgage etc as I have £230 loan payment each month for a load of stupid credit card debt I consolidated last year, big mistake spending in the first place but at least the loan is at a fairly low Apr (4%).

According to the gov tac calc if we had a kid based on combined income of £42k we would get literally nothing, I though everyone gets at least £20 odd quid a week child benefit ?

Bear in mind we would have to shell probably £200 a month for nursery.

My sister and her husband both work ft but have a combined of £60k and they got some credit so how come the calc site says we would get squat ?

Any thoughts ?

Shouldn't have wasted your money on that Suzuki you just bought then you could afford kids without expecting the rest of the tax payers to subsidise you.

pinno

@the OP: Child benefit is universal and non means tested.
Child tax credits are another benefit.
Are you getting them mixed up?

Child tax credits are incremental. In other words, the more you earn the less you get. Also, if you have child care costs, the amount you get is more than if you haven't and this also goes down the more you earn.
By the looks of it, you are probably entitled to some:

https://www.moneyadviceservice.org.uk/e ... ome-limits

Matthewfalle

I wouldn't bother and just spend the money that you would on kid stuff on useful stuff instead.

Blow 'n' hos immediately spring to mind.

surrey_commuter

Pinno wrote:

@the OP: Child benefit is universal and non means tested.
Child tax credits are another benefit.
Are you getting them mixed up?

Child tax credits are incremental. In other words, the more you earn the less you get. Also, if you have child care costs, the amount you get is more than if you haven't and this also goes down the more you earn.
By the looks of it, you are probably entitled to some:

https://www.moneyadviceservice.org.uk/e ... ome-limits

Child benefit is means tested but only once one of you are a higher rate tax payer

norvernrob

The child benefit is a bit odd. If one parent earns over £60k you get nothing, but both parents can earn more than that combined and you still get it.

My wife and I are in the latter situation, we have two young kids and get £140 per month. We pay a fortune in childcare however as both of us work full time so I’m not going to turn it down!

So yes, you’ll get around £80 per month for one child.

veronese68

PBlakeney wrote:

Thoughts? Sensible to do some planning but if everyone did parenthood based on money the human race would come to an end.

This.

jgsi

If my parents had decided on what they could 'claim' when I was just an idea, I wouldnt be here. I think they were just happy to get through the war relatively unscathed.

Frank Wilson

JGSI wrote:

If my parents had decided on what they could 'claim' when I was just an idea, I wouldnt be here. I think they were just happy to get through the war relatively unscathed.

Totally agree.

Matthewfalle

From the looks of things you can’t afford kids and intend to scrounge off the rest of us to pay for them.

I suggest you put a hold on this folly until one of the two points is negated.

Stevo_666

Is there any opportunity for either of you to get a better paid job?

rjsterry

Matthewfalle wrote:

From the looks of things you can’t afford kids and intend to scrounge off the rest of us to pay for them.

I suggest you put a hold on this folly until one of the two points is negated.

Quite right! Can't have the poor breeding, can we now?
<drops monocle into glass of port>

PB is right: think about it but don't over think it. If you can make some changes to improve your financial situation easier that will help, but most of the trials of parenthood aren't much to do with money.

type:epyt

Given you admit to having trouble looking after a credit card, I think a child might be beyond your means, in every sense of the word ...

I’m happy to donate a few £s to get you a few condoms, not so happy to shell out for the next 20-odd years for something you ‘want’ ...

Matthewfalle

rjsterry wrote:

Matthewfalle wrote:

From the looks of things you can’t afford kids and intend to scrounge off the rest of us to pay for them.

I suggest you put a hold on this folly until one of the two points is negated.

Quite right! Can't have the poor breeding, can we now?
<drops monocle into glass of port>
.

incorrect my dear friend <taps cigar ash onto floor>

if the poor didn't breed where would we get staff from?

morstar

I have no idea what benefits you could get beyond childcare but...
Remuneration rates, benefits and taxes form a linked system. If you're eligible for benefits, take them.
To the judgemental ones. Employers are subsidised by the availability of in work benefits meaning they don't have to pay as much.
The left are wrong when they just want to whack taxes up. The right are wrong in just wanting to remove benefits. Neither exist in isolation. If there were no taxes but all else was equal, my employer would pay me less. Remuneration packages reflect the whole system.
Stop being so judgemental banging on about supporting a working couple who want kids and are worrying about affording it. Blame the government for the existence of low wages and benefits.

BelgianBeerGeek

I say if it’s what you both want, get horny, get pregnant, have kids, get a mortgage, get fat, who cares? Just get on with it, sounds like you have anyway. Good luck with the rest of your life

pinno

All that cash flow forecasting in the event of a child is pure bollox.
We got given so many clothes and the charity shops are jam packed with useful stuff like sterilisers and buggy's, moses baskets and cots.
However, there are many women out there who want 'nothing but the best' and everything brand spanking new. I think most men are content with second hand. Those who can afford the Gracco triple set (car seat, moses basket and buggy) can carry on but that doesn't mean you have to.
Have a baby shower and get lots of gifts chucked at you and specify what you want for the newborn. Reveal the gender early so that it's easy for people to buy stuff.

Get shagging - time's ticking. It'll work out.

cooldad

And if it doesn't work out, I heard they are quite tasty roasted.

robert88

I have been assured by a very knowing American of my acquaintance in London, that a young healthy Child well Nursed is at a year Old, a most delicious, nourishing, and wholesome Food, whether Stewed, Roasted, Baked, or Boyled, and I make no doubt that it will equally serve in a Fricasie, or Ragoust.

narbs

Matthewfalle wrote:

From the looks of things you can’t afford kids and intend to scrounge off the rest of us to pay for them.

I suggest you put a hold on this folly until one of the two points is negated.

What an obnoxious little turd you really are.

nickice

Matthewfalle wrote:

From the looks of things you can’t afford kids and intend to scrounge off the rest of us to pay for them.

I suggest you put a hold on this folly until one of the two points is negated.

I'm no left-winger but this is a nasty comment.

surrey_commuter

If we could ignore the morality and nutrition aspects it would be great if the OP could pop back and explain how the fvck he can get child care for £200 a month. Assuming he has a full time job and childcare provider is on site then that works out at about £1.25 an hour.

type:epyt

nickice wrote:

Matthewfalle wrote:

From the looks of things you can’t afford kids and intend to scrounge off the rest of us to pay for them.

I suggest you put a hold on this folly until one of the two points is negated.

I'm no left-winger but this is a nasty comment.

But yet bang on what the OP lacks ... If you are nudging 40 and still can’t afford a kid, then accept it’s not for you and move on ... Even if it happens by accident, a hard look at your circumstances screams abortion in this case ...

edit: to make my stance clear, this reads exactly like one of those ‘bike to work’ tnreads where the OP is trying to work out if he can afford it ...

pblakeney

Surrey Commuter wrote:

If we could ignore the morality and nutrition aspects it would be great if the OP could pop back and explain how the fvck he can get child care for £200 a month. Assuming he has a full time job and childcare provider is on site then that works out at about £1.25 an hour.

Well done. You managed to read the first post.
Now try reading the second post.

surrey_commuter

PBlakeney wrote:

Surrey Commuter wrote:

If we could ignore the morality and nutrition aspects it would be great if the OP could pop back and explain how the fvck he can get child care for £200 a month. Assuming he has a full time job and childcare provider is on site then that works out at about £1.25 an hour.

Well done. You managed to read the first post.
Now try reading the second post.

Then he should chuck his job in and become a child minder.

pblakeney

Surrey Commuter wrote:

PBlakeney wrote:

Surrey Commuter wrote:

If we could ignore the morality and nutrition aspects it would be great if the OP could pop back and explain how the fvck he can get child care for £200 a month. Assuming he has a full time job and childcare provider is on site then that works out at about £1.25 an hour.

Well done. You managed to read the first post.
Now try reading the second post.

Then he should chuck his job in and become a child minder.

I have never quite understood the concept of going out to work earning (as an example) £300/week in hand only to pay £200/week for childcare.
And that is based on a roughly average salary. For the low paid...

rjsterry

Surrey Commuter wrote:

PBlakeney wrote:

Surrey Commuter wrote:

If we could ignore the morality and nutrition aspects it would be great if the OP could pop back and explain how the fvck he can get child care for £200 a month. Assuming he has a full time job and childcare provider is on site then that works out at about £1.25 an hour.

Well done. You managed to read the first post.
Now try reading the second post.

Then he should chuck his job in and become a child minder.

More seriously, it is worth considering whether it makes more sense for one or both of you to go part time to significantly reduce the child care costs. Depending on your employer this can put a dent in career progression, but it depends whether that's a priority or not.

robert88

A colleague works part time and has friends who work part time. It lets them child mind their own and their friends' kids, taking turns. It needs a decent employer or self-employment.