Planning our finances...

Hi, im new, have a few questions and just wonder if anyone can help?
My husband and are currently trying to plan when to start ttc and Im trying to work out where we will stand financially. We are on a combined income of about ??50,000 per year. However, I earn the main salary. I have found out from work how much my maternity payments will be, but I was just wondering what payments we will get in terms of family allowance/tax credits etc. I dont understand any of that stuff and it would really help me to plan ahead if anyone could shed some light on it!

Thanks xx


  • Don't know how much help I'll be but I'll try.
    In our case I also earn more than OH. We have a hefty mortgage so had to take that into consideration.
    My advice is to save as much as possible before and during pregnancy but only buy things close to the due date, you'll be given loads.
    You will be entitled to ??20 a week child benefit and maybe some child tax credits( probably not a lot based on your earnings)

    we are currently planning our second, dd is 3 months old, now we have to factor in childcare costs too.

    Hth a bit

  • My husband and i have been doing the same and it takes a while but its such a relief when its all worked out.

    The tax credits are dependant on individual circumstances and you can check taxcredits on line to see if you are able to receive tax credits and how much you would be entitled to. If this is your first child you will receive ??80.00 (20.00 per week) per month for Child Benefit whith is in addition to tax credits. If this is your second then in addition to what you already receive you will get ??13.20 a week (52.80 per month).

    Hope this helps. Good luck image
  • hi there, just popped over from toddler as "thinking" about number 2!!

    I too earn more than hubby and had to come back to work full time when lo was 6months has couldn't last any longer on statutory maternity pay!!!

    you will get the ??80 month child allowance but I reckon that would be it.

    we have a combined income of around ??35k and only get ??42.50 per month CTC but that is to help towards ??260 per month child care, so I doubt you'll get much if anything from CTC, but it is worth trying.

    Unfortunatly us people that want to make a better life for our children and have careers aren't looked after very well. It is actually sometimes better to not work at all!!!!
  • your right claire. My husband and i have a combined income of 60k and i receive ??80.00 a month child benefit and only ??14.12 child tax credit and nothing from working families tax credit.

    I have to say though as we are very luckily in that both my husband and i are police officers and therefore work shifts. I work full time and due to the way our shift patterns are worked out i only have to use a child minder 6 times a month costing ??60.00 which is then only for collecting my daughter from school when our shifts cross slightly at all other times we a re there for school collections and always there to take our daughter to school.

    We are planning our second now after nearly 7 years but I honestly do think there there isnt enough done for mothers who want a career in the poublic sector position. The forces do look after their own very well but that should be across the board!

  • Thank you so much for all of the help and advice. I cant wait to start trying in a few month time (all being well). I hate the thought of having to go back to work full time after though image xx
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