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Expect the unexpected when expecting!
02 Sep 2007
There are so many things to buy for a new baby, so we needed to organise our spending so that there was enough money to do this, and still enough money for us to pay the mortgage, bills and eat each fortnight!
The plan I came up with has worked well for us. We have bought a new item or a couple of items each fortnight, so our income has therefore not taken a huge hit in one go, but lots of little ones that we have been able to manage.
Based on what my income will be while I am on maternity leave, and on what my husband earns, I was able to create a new budget for us. I’ve now ensured we owe nothing on our credit cards, so that when our income reduces that is one bill we don’t have to pay. We also pay small amounts to the electricity and water company each fortnight so that the bill is not so big each quarter, we will continue to do this, although they will be smaller amounts than we currently pay due to the reduced income.
All these small changes hopefully mean we’ll be ok while the income is less, although it will be much tighter. When the baby comes I'm sure we'll have enough to worry about, so getting our money under control now is really important.
Frances.