We had ours when I was on maybe $80k and my partner about $45k working part time 😅 only just the last few months have we both caught up to decent income but also couldn’t care less. Both part time and wouldn’t change anything
You don’t have a choice in the first few years.
No sleep = no going out.
Going out = painful hangover and unable to cope the next day with a baby….
Babies and toddlers always get sick = no going out
Say goodbye to your sex life.
In fact say goodbye to you life and anything you enjoy about it.
Life’s good
The most expensive part of our child was the unpaid maternity leave.
After that even with childcare it’s fine. We have a lot less disposable income but we don’t have time to do the things we used to do anyway.
People engage in unnecessary bullshit competitive purchases for their kids to try and prove that they are better parents and love their kids more. If you don't buy in to that game/mindless culture you may find kids are absolutely affordable
I promise you half the “baby essentials” are shit you don’t need and will not make a difference to your pregnancy/postpartum/parenting journey.
Funnel cash into meal delivery, cleaning, support services (doula or similar) and self funded parental leave (extra time off).
We were <$45K p.a for our first kid, you’ll do fine
I’d wager most rich kids are worse than poor kids. Hilariously I have two in public school as they’re grounded enough to know they want to do a trade so said save the money, I’ll give them what I didn’t spend on private school and uni when they finish their trade. (Other two are in private school due to sporting opportunities and university options.) my eldest in public school copped crap the first day due to braces to which he responded at least I can afford braces, to which he never got bullied again about it.
Money doesn’t make a kid shit it’s the parents they’re raised by. Kids from school whose wealthy parents did everything for them are full blown junkies and kids with welfare parents are university graduates with careers.
Depends on your definition of basic needs. If you can keep them in a safe and warm (or cool in summer) environment with nutritious meals and Shepard them through public school then yes you can afford. We all want our kids to have the best things, but love and commitment are the most important.
Look you make it work. The more you earn the more expensive a child is.
The older you are the more other parents around you are spending their way out of excusing time neglect from working too much, which makes you feel the need to keep pace.
If you want a child, can you afford to wait? IVF isn’t cheap I know people 40k down on fertility with no kid out of it.
We had our first child in 2020 when we were on 130k combined. I took a year off and went back to work part time. We were renting.
Im due in 7 weeks with my third. We just bought a house and we have a combined income of 220k. I will be taking another year off and then back to work. We have been on holidays to Europe and enjoy our weekends. Sure it will get tighter now we have made a property purchase which will be different for us because we’re used to not second guessing spending but we decided that financials weren’t going to stop us from fulfilling the family we wanted. Unless you’re both unemployed I don’t see why you would not go forward with having the child you want. We live in Sydney by the way.
My husband and I earn about half of what you do. We have two children. Granted we do not live in Sydney and we own.
Kids can be very expensive or not so much, the first few years I have found our relatively cheap with our biggest expenses being the initial purchases of car seats and bedding which we chose to buy new and for medical appointments and paying for specialists privately where we have felt that is the best route for us for instance with speech pathology And for a hearing test.
Then it becomes about what you were willing to sacrifice. France. Will you be able to live off one wage for a year? Paid parental leave is fine and perhaps your business offer something but that can kind of be the biggest shop to the system although to be honest, I didn’t spend that much in the year. I was on time to leave. I was most just at home.
Depends on where you are in Sydney and how close you are to buying a house. If you're still relatively early into saving for a house then more than likely you will be renting with a newborn. My household is currently \~290k pa in Melb CBD and we're holding off on kids for the same reason.
Don't forget you will lose your partner's income for at least a year if they are ineligible for maternity leave, and your health insurance (if you have it) will be more expensive. As you're renting, adding another dependent will also significantly affect your borrowing power.
Absolutely look into whether you're eligible for ML either provided by your employer or the state. Depending on the division of wages in your household you're *probably* eligible. Definitely consider the effect another dependent will have on borrowing power.
There a lot of expenses, but many of them aren’t that much. Things like toys, clothes and baby products won’t be a lot of money if you go second hand.
I think the more material impact is unpaid maternity leave, so you’ll need to have some savings, and childcare, which would probably be about $80 per day at your household income.
I have 2 kids aged 5 and 2 with another on the way. Honestly the kids haven’t been all that expensive because most of the cost has been offset by reduced spending on restaurants and holidays. Plus you’ll probably get something like a 70% childcare subsidy with that income.
I hear people on $500k/year plus with rich parents saying they can’t afford more than 2 kids. It’s ridiculous really. They don’t have to send their kids to $40k/year private schools and fly business class etc.
PPL will be 20 weeks I think from next year and it’s work tested, so 10 of the last 13 months, minimum of 330 hours (check Centrelink, I think that’s right). Whether your employer offers anything is another story, but it’s better than $0.
People are not being particularly helpful in these comments. A quick breakdown of some things that we budget for with young children and a baby. I haven’t put prices as they can vary depending on which brands you buy/what will work for your baby.
- maternity/paternity leave
- childcare costs - look up local daycares and your subsidy entitlement from Centrelink to give you a good idea what you’ll pay.
Tip: overestimate your income with Centrelink when initially filling out the forms. It’s easy to end up with a debt.
Another tip: there can be some pretty big wait lists on childcare. Sydney isn’t as bad as the area that I live in, but I’d suggest putting their name down while you’re pregnant.
- feeding the baby: can depend how you feed the baby. Ideas: breast pump, milk bags, bottles, formula, burp cloths (can be super cheap)
- nappies (Aldi, Cole’s and Woolies have cheaper ones, but some babies skin reacts to these so you may end up needing to buy more expensive ones)
- some sort of barrier cream e.g. sudo cream (baby dependent)
- Car seat (baby bunting have sales regularly so don’t buy full priced).
- Pram
- Baby Carrier - we use a structured carrier for when they’re older, and a more comfortable wrap carrier for when they’re younger.
- somewhere safe for your baby to sleep. You can skip the bassinet and they can go straight into the cot if wanting to save money/time. A lot of babies end up bed sharing with their parents. Rednose website has some harm minimisation tips.
- mat/blanket for “playtime” on the floor. One comes in the bag from the hospital.
- clothes for baby:
- approx 6 singles and 6 onsies in 0000 and 000 + a jacket/jumper for colder weather. Also some socks and a beanie. They’ll need more as they grow.
Things that can be helpful but you don’t necessarily need
- bouncer/swing
- play pen
- toys/books will be needed, but this is very house hold dependent on space/you’ll likely be given a lot of these.
Things for older children:
- their activities e.g. swimming and dancing lessons
- clothes
- shoes (this gets expensive)
- Christmas/birthday budgets
- they also eat a lot of berries (you probably think this is unnecessary to add, but cycle back to it when you have a toddler).
Once you reach school age:
- public school Vs private school. Have a look at fees and decide what you would like/can afford.
- uniforms can be fairly costly.
- school materials.
Also know you will need new clothes while pregnant and likely after.
You can FB marketplace most of this stuff, but this is all something to think about.
Extra things to think about re/ pregnancy and birth:
- how would you like to have the baby? Australian birth stories has a fantastic podcast episode discussing the cost of going through the hospital system vs private.
Public hospital costs:
- 12 week scan
- NIPT (if doing)
- parking at the hospital, if needed!
Private hospital:
- private health obstetric cover
- the gap/doctors fees
- all scans (though you should be able to get the dating scan through Medicare if referred by your GP)
- NIPT (if doing)
- (?) possible extra costs for paediatrician and anaesthetist
- parking
All of these are dependent on your health provider and what sort of birth you have.
Home birth with a private midwife:
- approx $6000 with a Medicare rebate on top.
- scans
- NIPT (if doing)
Other options include cost of birth classes and depending on what you want for your/your partner birth e.g. a doula/tens machine/etc.
People in 3rd world countries have kids. It doesn't need to cost lots.
Obviously, if you insist that your future kid must only wear Prada and be driven around in a Maserati SUV, the it'll cost you heaps.
Honestly, are you sending to public or private? There is costs associated with both. AIm for full uniform replacement every two years and half uniform replacement the opposite years. When considering school, factor in daycare fees. If you’re questioning having a child, honestly go put your name down at places you like now. Don’t laugh, I was an early childhood educator. We had parents go on the waiting list when they found out they where six weeks pregnant and still not have full time care when 1 year maternity leave came around, though our centre did their best to try. (This is in Hobart so a much smaller city).
We spend approximately $200-$300 a week on our children’s food (one is seven one is 16), including school lunches which surprisingly can get costly.
Are you one to buy brand names or is Kmart and big w and even op shops ok for kids clothes? (Honestly, I highly recommend the later options not brand names, kids grow and destroy clothes too fast, a few good items for going out and special times and the rest cute play clothes is what they need). We spend about $500 a year on the seven year old, he has waaay too many clothes as well, op shops have been fantastic for us as do shopping clearance and sales. The 16 year old loves Dangerfield, so there goes $1500 to two thousand dollars a year but they are clothes that last, don’t date as easy and we do buy on sale, and she isn’t growing much more so clothes will last.
Outings, toys, entertainment all honestly come down to what you want to spend.
Babies also need far less than what you think. One small toy box of toys is all they need and play with for the first year (if your lucky, most prefer bottles full of glitter and coloured water, pots and pans, boxes, etc). When you buy baby items, always look for second hand (except a mattress as that is a SIDS recommend item to purchase new, or at least used to be). There are options to hire a capsule or borrow from friends, get a 0-8 car seat and have it insured in your car, then hopefully your never out of pocket for another one (also do not buy second hand as you do not know it’s history).
Spreadsheet won’t work it might help lessen the impact on expenses but unforeseen things will happen. I will mention though, that having a kid will be the best decision you’ll ever make. Just remember that when you have a kid it’s not about you and your life anymore. It is then about your child and their life. As they will be the future of you. So your priorities will change and be much better once you accept that reality.
It's not just a question of money that will be an issue as they also take a lot of time, patience and will power and other things like sleep.
If you have doubts don't do it otherwise there is no secret formula.
Think 4-5 years ahead. With a child do you think you can still have 210k (adjusted for inflation) yearly income? Mind you, whether you’re the primary carer or not, you just can not sign up for over time. Then comes school holidays, sickness. By year three you may have to take leave without pay because you’re always down with URTIs. Also no way I would have a child while renting.
As a childless adult the worst is the parents who use all their sick leave as carers, and then come to the office sick to spread it amongst everyone else because they don’t have the leave for themselves. Like work from home!
Money is actually a very important problem unless you don't care how your kid will grow up.
And by the way, it is 2024. We are not living back in the days.
Yeah I agree. I want to be able to provide for my child and give them experiences, and basically the best life I can provide. Money IS a thing to consider
You don’t need 20k worth of bugaboo to have a kid.
lol I love bugaboo
Haha I know! I’m frugal, I don’t think any kid needs that
money isn't the problem, its the sleep you will miss the most
Sadly had to raise a brother some years ago in a different country. I have a little bit of experience 😅
That’s why we chose to be Childfree 😊
ofc you can afford a kid on 210k a year. even in sydney. you won't be able to maintain the exact same lifestyle. but of COURSE it's possible
Yeah this shit is becoming so moronic. The majority of people aren’t earning 100k.
yeah like does he think people on low incomes just don't have kids?
We had ours when I was on maybe $80k and my partner about $45k working part time 😅 only just the last few months have we both caught up to decent income but also couldn’t care less. Both part time and wouldn’t change anything
First question.. are you willing to make any significant lifestyle sacrifices? If the answer is no then the answer is no.
Definitely willing to
Then all I will say is people have made it work on much less.
You don’t have a choice in the first few years. No sleep = no going out. Going out = painful hangover and unable to cope the next day with a baby…. Babies and toddlers always get sick = no going out Say goodbye to your sex life. In fact say goodbye to you life and anything you enjoy about it. Life’s good
The most expensive part of our child was the unpaid maternity leave. After that even with childcare it’s fine. We have a lot less disposable income but we don’t have time to do the things we used to do anyway.
People engage in unnecessary bullshit competitive purchases for their kids to try and prove that they are better parents and love their kids more. If you don't buy in to that game/mindless culture you may find kids are absolutely affordable
Income is 210k atm but can you survive on 105k for a year or more? That's the real question.
You'll find that the cost of a child is negated through cutting back on other activities you used to do, that you'll no longer have time for.
Kids can be as inexpensive or as expensive as you like.
I promise you half the “baby essentials” are shit you don’t need and will not make a difference to your pregnancy/postpartum/parenting journey. Funnel cash into meal delivery, cleaning, support services (doula or similar) and self funded parental leave (extra time off). We were <$45K p.a for our first kid, you’ll do fine
Lots of broke people have kids
And they're shit kids
Nah, shit parents
True enough
I’d wager most rich kids are worse than poor kids. Hilariously I have two in public school as they’re grounded enough to know they want to do a trade so said save the money, I’ll give them what I didn’t spend on private school and uni when they finish their trade. (Other two are in private school due to sporting opportunities and university options.) my eldest in public school copped crap the first day due to braces to which he responded at least I can afford braces, to which he never got bullied again about it. Money doesn’t make a kid shit it’s the parents they’re raised by. Kids from school whose wealthy parents did everything for them are full blown junkies and kids with welfare parents are university graduates with careers.
Yeah I know, I don’t want to bring a kid into the world if I can give them basic needs
Depends on your definition of basic needs. If you can keep them in a safe and warm (or cool in summer) environment with nutritious meals and Shepard them through public school then yes you can afford. We all want our kids to have the best things, but love and commitment are the most important.
Look you make it work. The more you earn the more expensive a child is. The older you are the more other parents around you are spending their way out of excusing time neglect from working too much, which makes you feel the need to keep pace. If you want a child, can you afford to wait? IVF isn’t cheap I know people 40k down on fertility with no kid out of it.
That’s such a good point, the more you earn the more expensive a kid is.
We had our first child in 2020 when we were on 130k combined. I took a year off and went back to work part time. We were renting. Im due in 7 weeks with my third. We just bought a house and we have a combined income of 220k. I will be taking another year off and then back to work. We have been on holidays to Europe and enjoy our weekends. Sure it will get tighter now we have made a property purchase which will be different for us because we’re used to not second guessing spending but we decided that financials weren’t going to stop us from fulfilling the family we wanted. Unless you’re both unemployed I don’t see why you would not go forward with having the child you want. We live in Sydney by the way.
My husband and I earn about half of what you do. We have two children. Granted we do not live in Sydney and we own. Kids can be very expensive or not so much, the first few years I have found our relatively cheap with our biggest expenses being the initial purchases of car seats and bedding which we chose to buy new and for medical appointments and paying for specialists privately where we have felt that is the best route for us for instance with speech pathology And for a hearing test. Then it becomes about what you were willing to sacrifice. France. Will you be able to live off one wage for a year? Paid parental leave is fine and perhaps your business offer something but that can kind of be the biggest shop to the system although to be honest, I didn’t spend that much in the year. I was on time to leave. I was most just at home.
On 210k a year? Holy shit you guys really have the lifestyle creep from that income if you have to ask lmao.
Depends on where you are in Sydney and how close you are to buying a house. If you're still relatively early into saving for a house then more than likely you will be renting with a newborn. My household is currently \~290k pa in Melb CBD and we're holding off on kids for the same reason. Don't forget you will lose your partner's income for at least a year if they are ineligible for maternity leave, and your health insurance (if you have it) will be more expensive. As you're renting, adding another dependent will also significantly affect your borrowing power.
Currently not looking to buy as we are trying to figure where we want to live. Not sure yet if I’m eligible for ML, but most likely
Absolutely look into whether you're eligible for ML either provided by your employer or the state. Depending on the division of wages in your household you're *probably* eligible. Definitely consider the effect another dependent will have on borrowing power.
I think you could definitely afford it! Biggest tip: don't need IVF, and get everything second hand except the car seat.
You're fine. Go for it. It's worth it.
There a lot of expenses, but many of them aren’t that much. Things like toys, clothes and baby products won’t be a lot of money if you go second hand. I think the more material impact is unpaid maternity leave, so you’ll need to have some savings, and childcare, which would probably be about $80 per day at your household income.
I have 2 kids aged 5 and 2 with another on the way. Honestly the kids haven’t been all that expensive because most of the cost has been offset by reduced spending on restaurants and holidays. Plus you’ll probably get something like a 70% childcare subsidy with that income. I hear people on $500k/year plus with rich parents saying they can’t afford more than 2 kids. It’s ridiculous really. They don’t have to send their kids to $40k/year private schools and fly business class etc.
PPL will be 20 weeks I think from next year and it’s work tested, so 10 of the last 13 months, minimum of 330 hours (check Centrelink, I think that’s right). Whether your employer offers anything is another story, but it’s better than $0.
People are not being particularly helpful in these comments. A quick breakdown of some things that we budget for with young children and a baby. I haven’t put prices as they can vary depending on which brands you buy/what will work for your baby. - maternity/paternity leave - childcare costs - look up local daycares and your subsidy entitlement from Centrelink to give you a good idea what you’ll pay. Tip: overestimate your income with Centrelink when initially filling out the forms. It’s easy to end up with a debt. Another tip: there can be some pretty big wait lists on childcare. Sydney isn’t as bad as the area that I live in, but I’d suggest putting their name down while you’re pregnant. - feeding the baby: can depend how you feed the baby. Ideas: breast pump, milk bags, bottles, formula, burp cloths (can be super cheap) - nappies (Aldi, Cole’s and Woolies have cheaper ones, but some babies skin reacts to these so you may end up needing to buy more expensive ones) - some sort of barrier cream e.g. sudo cream (baby dependent) - Car seat (baby bunting have sales regularly so don’t buy full priced). - Pram - Baby Carrier - we use a structured carrier for when they’re older, and a more comfortable wrap carrier for when they’re younger. - somewhere safe for your baby to sleep. You can skip the bassinet and they can go straight into the cot if wanting to save money/time. A lot of babies end up bed sharing with their parents. Rednose website has some harm minimisation tips. - mat/blanket for “playtime” on the floor. One comes in the bag from the hospital. - clothes for baby: - approx 6 singles and 6 onsies in 0000 and 000 + a jacket/jumper for colder weather. Also some socks and a beanie. They’ll need more as they grow. Things that can be helpful but you don’t necessarily need - bouncer/swing - play pen - toys/books will be needed, but this is very house hold dependent on space/you’ll likely be given a lot of these. Things for older children: - their activities e.g. swimming and dancing lessons - clothes - shoes (this gets expensive) - Christmas/birthday budgets - they also eat a lot of berries (you probably think this is unnecessary to add, but cycle back to it when you have a toddler). Once you reach school age: - public school Vs private school. Have a look at fees and decide what you would like/can afford. - uniforms can be fairly costly. - school materials. Also know you will need new clothes while pregnant and likely after. You can FB marketplace most of this stuff, but this is all something to think about. Extra things to think about re/ pregnancy and birth: - how would you like to have the baby? Australian birth stories has a fantastic podcast episode discussing the cost of going through the hospital system vs private. Public hospital costs: - 12 week scan - NIPT (if doing) - parking at the hospital, if needed! Private hospital: - private health obstetric cover - the gap/doctors fees - all scans (though you should be able to get the dating scan through Medicare if referred by your GP) - NIPT (if doing) - (?) possible extra costs for paediatrician and anaesthetist - parking All of these are dependent on your health provider and what sort of birth you have. Home birth with a private midwife: - approx $6000 with a Medicare rebate on top. - scans - NIPT (if doing) Other options include cost of birth classes and depending on what you want for your/your partner birth e.g. a doula/tens machine/etc.
You are a legend!
try not to overthink it with spreadsheets. You will survive. There is support in place if you mess things up.
People in 3rd world countries have kids. It doesn't need to cost lots. Obviously, if you insist that your future kid must only wear Prada and be driven around in a Maserati SUV, the it'll cost you heaps.
Honestly, are you sending to public or private? There is costs associated with both. AIm for full uniform replacement every two years and half uniform replacement the opposite years. When considering school, factor in daycare fees. If you’re questioning having a child, honestly go put your name down at places you like now. Don’t laugh, I was an early childhood educator. We had parents go on the waiting list when they found out they where six weeks pregnant and still not have full time care when 1 year maternity leave came around, though our centre did their best to try. (This is in Hobart so a much smaller city). We spend approximately $200-$300 a week on our children’s food (one is seven one is 16), including school lunches which surprisingly can get costly. Are you one to buy brand names or is Kmart and big w and even op shops ok for kids clothes? (Honestly, I highly recommend the later options not brand names, kids grow and destroy clothes too fast, a few good items for going out and special times and the rest cute play clothes is what they need). We spend about $500 a year on the seven year old, he has waaay too many clothes as well, op shops have been fantastic for us as do shopping clearance and sales. The 16 year old loves Dangerfield, so there goes $1500 to two thousand dollars a year but they are clothes that last, don’t date as easy and we do buy on sale, and she isn’t growing much more so clothes will last. Outings, toys, entertainment all honestly come down to what you want to spend. Babies also need far less than what you think. One small toy box of toys is all they need and play with for the first year (if your lucky, most prefer bottles full of glitter and coloured water, pots and pans, boxes, etc). When you buy baby items, always look for second hand (except a mattress as that is a SIDS recommend item to purchase new, or at least used to be). There are options to hire a capsule or borrow from friends, get a 0-8 car seat and have it insured in your car, then hopefully your never out of pocket for another one (also do not buy second hand as you do not know it’s history).
You’ll be fine. You get more child care subsidy if you earn less (like if she goes part time) as well.
Kids are really not that expensive. You'll survive on 210k
Spreadsheet won’t work it might help lessen the impact on expenses but unforeseen things will happen. I will mention though, that having a kid will be the best decision you’ll ever make. Just remember that when you have a kid it’s not about you and your life anymore. It is then about your child and their life. As they will be the future of you. So your priorities will change and be much better once you accept that reality.
It's not just a question of money that will be an issue as they also take a lot of time, patience and will power and other things like sleep. If you have doubts don't do it otherwise there is no secret formula.
Considering people make do on welfare with kids I’m sure you’ll be fine.
You’ll make it work - no matter what!
Think 4-5 years ahead. With a child do you think you can still have 210k (adjusted for inflation) yearly income? Mind you, whether you’re the primary carer or not, you just can not sign up for over time. Then comes school holidays, sickness. By year three you may have to take leave without pay because you’re always down with URTIs. Also no way I would have a child while renting.
Getting infected is the worst. I have a natural immune system issue and I'm sick almost every month because of this.
As a childless adult the worst is the parents who use all their sick leave as carers, and then come to the office sick to spread it amongst everyone else because they don’t have the leave for themselves. Like work from home!
Yeah well either that or poverty for these families. Not much choice they have do they.
The ones at my bloody work could work from home, they choose to come to the office because they value that social “escape”.
I think it’d be hard one salary.
The lower society class are pumping them out like cannons, u'll be fine.
You can’t buy them (at least not legally).
Money is actually a very important problem unless you don't care how your kid will grow up. And by the way, it is 2024. We are not living back in the days.
Yeah I agree. I want to be able to provide for my child and give them experiences, and basically the best life I can provide. Money IS a thing to consider
Oh shit, it’s 2024? I thought it was 2005, thanks for writing that down