Longing4baby

Hi,

I still haven't found Mr Right and my biological clock is ticking so I'm considering insemination.

Question is - can I afford it?

I'm on £46k a year so I don't think I have a bad salary, but I've heard that childcare in London costs over £1,000 per month, and I wouldn't be able to stay in my flatshare so accomodation costs would probably be another £1,000 per month at least which would only leave me with a few hundred pounds a month for everything else which I wouldn't think I could live on..

Any advice?

 

 

Posted on: November 14, 2013 - 9:14pm
Back to the top
Louise
Parenting specialist DoppleMe

Hello there

You're quite right to think seriously about the financial side of parenthood.

On the face of it, your salary sounds high and yet it is a case of thinking about a potential budget for the new situation, particularly accommodation and childcare costs.  Have a look at our Budgeting tool here (click to see) and draw up an "after baby" scenario

The cut-off point for receiving Child Benefit is currently £50,00 pa but see this page about the High Income Child Benefit charge

Posted on: November 14, 2013 - 9:58pm
Back to the top
Longing4baby

 

Thanks for getting back to me, Louise. I've had a look at the budgeting tool, but I have no idea whether I'm entitled to any benefits at all, how much they would be of, or whether there are cheaper nurseries in London, or other methods of making ends meet. Would you/anyone know?

Posted on: November 14, 2013 - 10:12pm
Back to the top
Louise
Parenting specialist DoppleMe

As far as benefits go, any help would be very limited (I think the help towards childcare costs is for those with incomes under £40k) but do email our Benefits Expert who will be able to give you some personalised guidance.

Regarding childcare, we have a list of organisations who have details of what is in your area, click here to see it.

I would also like to say that on the whole, we parents find we manage a lot better than we ever thought we would so don't be discouraged! Laughing

Posted on: November 15, 2013 - 8:06am
Back to the top
She Ra
Online

IMO I would not let money stop me however you do need to make sure you would be ok financially with your home etc, mi think your being smart in looking into it first, I just act on impulse 

mi have 7,5 with me ATM 

please get as much info as you can on money and help.

i hope it works out for you x

Posted on: November 15, 2013 - 11:48am
Back to the top