Financial help for new parents
Discussion
I'm due to become a father for the first time in about 5 weeks time to a daughter, were both very exited and have spent the last 6 months reading and speaking to as many people as we can regarding what to expect during the pregnancy and what to expect when the baby arrives.
The one thing that i havn't really looked into in any detail is the financial help available to new parents. I've spoken to a few people and keep getting conflicting info so was wondering if the dad's on here could clear a few things up for me.
Our situation currently is as follows:
My income (Salary) is £32k
Girlfriends wage on average is £10k
We own our home (Mortgaged) and have no other income, in a weeks time my girlfriend is going on maternity leave with a view to going back to college once the baby gets to about a year old alongside her current part-time job.
Has the £250 savings voucher been scraped?, are we entitled to help with childcare costs?, is there anything else out there to help out new parents financially?
I don't want the above to sound like i'm a benfits cheat! I've been in employment since leaving school and have never claimed a penny in my life (I appreciate how lucky i am to be in this position), i just want to provide the best i can for my daughter
The one thing that i havn't really looked into in any detail is the financial help available to new parents. I've spoken to a few people and keep getting conflicting info so was wondering if the dad's on here could clear a few things up for me.
Our situation currently is as follows:
My income (Salary) is £32k
Girlfriends wage on average is £10k
We own our home (Mortgaged) and have no other income, in a weeks time my girlfriend is going on maternity leave with a view to going back to college once the baby gets to about a year old alongside her current part-time job.
Has the £250 savings voucher been scraped?, are we entitled to help with childcare costs?, is there anything else out there to help out new parents financially?
I don't want the above to sound like i'm a benfits cheat! I've been in employment since leaving school and have never claimed a penny in my life (I appreciate how lucky i am to be in this position), i just want to provide the best i can for my daughter
ChrisRS said:
The one thing that I haven't really looked into in any detail is the financial help available to new parents.
As opposed to looking very carefully and responsibly into it before conception? Brilliant. ETA link: http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Be...
Not sure about the voucher as things currently are, but you should qualify if it's still available.
You'll be entitled to childcare costs, or at least help with costs towards it.
You should register for child tax credits.
There is also a child benefit payment payable.
I can't be more specific, but get yourself onto DirectGov for all the info you'll need.
You'll be entitled to childcare costs, or at least help with costs towards it.
You should register for child tax credits.
There is also a child benefit payment payable.
I can't be more specific, but get yourself onto DirectGov for all the info you'll need.
Chris, ignore the grief that you'll get on this thread. You've been paying tax for years, and in my books that's better than those who've never done an honest day's work in their lives but are paid more in benefits for being lazy feckers than you'll be claiming for getting your leg over.
Enjoy this special time. Kids are wonderful, and don't let this lot take the shine off that.
Enjoy this special time. Kids are wonderful, and don't let this lot take the shine off that.
Pints said:
Chris, ignore the grief that you'll get on this thread. You've been paying tax for years, and in my books that's better than those who've never done an honest day's work in their lives but are paid more in benefits for being lazy feckers than you'll be claiming for getting your leg over.
Enjoy this special time. Kids are wonderful, and don't let this lot take the shine off that.
Thanks for this! (And the other positive info)Enjoy this special time. Kids are wonderful, and don't let this lot take the shine off that.
Pints said:
Chris, ignore the grief that you'll get on this thread. You've been paying tax for years, and in my books that's better than those who've never done an honest day's work in their lives but are paid more in benefits for being lazy feckers than you'll be claiming for getting your leg over.
Enjoy this special time. Kids are wonderful, and don't let this lot take the shine off that.
EXACTLY what he said. I will also be looking into the benefits that I am entitled to.Enjoy this special time. Kids are wonderful, and don't let this lot take the shine off that.
Zwoelf said:
As opposed to looking very carefully and responsibly into it before conception? Brilliant.
That's not very nice. 
This might be useful http://www.turn2us.org.uk/ , though I suspect with a £42k joint income you'll not be able to get a huge amount of help but good luck.
This is gem memory, so may not be spot on but will give you some google fodder:
Everyone gets child benefit irrespective of earnings - registered to one parent or the other, also keeps ni contribution going for that parent
Working families tax credit is the other one, at £32k combined you may get something, at £42k it is borderline.
Maternity pay should kick in as well which will help a bit.
Everyone gets child benefit irrespective of earnings - registered to one parent or the other, also keeps ni contribution going for that parent
Working families tax credit is the other one, at £32k combined you may get something, at £42k it is borderline.
Maternity pay should kick in as well which will help a bit.
I have the dubious pleasure of earning too much to get any sort of benefits, so I can't help you on the income side of things.
On the outgoings side, however, there is one very worthwhile piece of advice. Write a list of everything you think you're going to need for a new baby.
Now cross off 90% of it, because you won't need it or use it! We bought all sorts of crap for our first, and most of it was just pointless.
Take bottle warmers, for instance. "Oh darling, we need a bottle warmer to make sure we don't burn her ickle mouth with hot milk!" Mmmm.... That was a great way to spend £25 to replace tipping some hot water in a jug and testing it on the inside of your wrist!
Obviously you'll need a car seat, high chair, clothes, bottles, nappies, pram and cot. Beyond that, if you think you need it, wait a few days to see if you still remember that you needed it. If you do, then buy it, but in most cases I bet you won't.
Also, don't feel like a
for buying second hand clothes for them. They'll grow out of then long before they wear them out!
On the outgoings side, however, there is one very worthwhile piece of advice. Write a list of everything you think you're going to need for a new baby.
Now cross off 90% of it, because you won't need it or use it! We bought all sorts of crap for our first, and most of it was just pointless.
Take bottle warmers, for instance. "Oh darling, we need a bottle warmer to make sure we don't burn her ickle mouth with hot milk!" Mmmm.... That was a great way to spend £25 to replace tipping some hot water in a jug and testing it on the inside of your wrist!
Obviously you'll need a car seat, high chair, clothes, bottles, nappies, pram and cot. Beyond that, if you think you need it, wait a few days to see if you still remember that you needed it. If you do, then buy it, but in most cases I bet you won't.
Also, don't feel like a
for buying second hand clothes for them. They'll grow out of then long before they wear them out!Kermit, thanks for the advice re getting sucked into the buying bug! Everyone i spoke to (Blokes) gave me this advice, all the people my partner spoke to just (Women) reeled off big list of stuff we "must" get.
Luckily she listens to me! We bought the pram/travel system combo second hand, looks like it's never been used, paid £150 instead of the £800 the first owners paid. For now we've just bought the basics and put the cash aside for anything else we think/have been told we also need, most places are open till 8pm these says so it's not as though were gonna have a problem getting hold of stuff.
Luckily she listens to me! We bought the pram/travel system combo second hand, looks like it's never been used, paid £150 instead of the £800 the first owners paid. For now we've just bought the basics and put the cash aside for anything else we think/have been told we also need, most places are open till 8pm these says so it's not as though were gonna have a problem getting hold of stuff.
There are numerous sites dedicated to promoting products to new parents. Whilst this won't answer your question it will save you a fortune on products via freebies and free trials. I can't post links from my phone so the main reason for this post is to remind me to do so over the weekend.
And congratulations.
And congratulations.
The £250 from the Govt is gone but you can save £3600 pa tax free.
http://www.direct.gov.uk/en/Nl1/Newsroom/DG_192028
Child benefit info:
http://www.hmrc.gov.uk/childbenefit/
http://www.direct.gov.uk/en/Nl1/Newsroom/DG_192028
Child benefit info:
http://www.hmrc.gov.uk/childbenefit/
You'll get maternity pay and child benefit and possibly working families tax credits. Childrens prescriptions are free too.
The absolutely best thing you can do to have more money is not to spend it!
The absolutely best thing you can do to have more money is not to spend it!
- Join your local freecycle network. We've got shed loads of clothes and toys from ours for nothing.
- Ask your folks to help, grandparents will search their attics for YOUR old baby stuff.
- Do you know how much our last pram cost? Nothing (I pulled it out of a hedge and spray washed it)
- Do you know why our baby changing unit is called "tenner" (clue: guess how much it cost in a junk shop)
- Leave painting and new carpets untill the kid is five-ish. Calpol and nappy stains will ruin a new one.
- try NCT sales for cheap second hand stuff.
- avoid any toy with a battery in it. The kids will just leave them on and you'll need serious quantities of batteries.
Child benefit £20 pw for each child (everyone gets this)
Child tax benefit, dependent on joint income (not sure if will get anything at £42k)
Child care vouchers. Need your employer (most will do it) You can do up to £246 for each parent which is tax free (saving you £75pm) so if both parents do this voucher through work it will save you jointly £150 in tax you would otherwise have had deducted from salary. I think all nurseries take vouchers.
£250 child trust fund (given to you to automatically to open trust fund) as a one off.
Buy prams second hand. Nappies in bulk. And best of luck (don't put pressure on wife to breast feed. Everything else is just common sense-don't take midwives advice as the only way)
Child tax benefit, dependent on joint income (not sure if will get anything at £42k)
Child care vouchers. Need your employer (most will do it) You can do up to £246 for each parent which is tax free (saving you £75pm) so if both parents do this voucher through work it will save you jointly £150 in tax you would otherwise have had deducted from salary. I think all nurseries take vouchers.
£250 child trust fund (given to you to automatically to open trust fund) as a one off.
Buy prams second hand. Nappies in bulk. And best of luck (don't put pressure on wife to breast feed. Everything else is just common sense-don't take midwives advice as the only way)
Child Benefit rules are changing from Jan 2013 - 40% taxpayers won't get it. Announced in the last budget and caused uproar as it was the one benefit that wasn't means tested. You used to get a form in the baby pack, but its been 11 years since I did it! Put on your "To Do" list along with registering birth, registering baby at your GP, etc.
Child Trust Fund disappeared a budget somewhere - but Junior ISAs come out in November
Ask for an application for Child and Working Tax Credit - at £42k joint income I think you'd get the baseline £545 pa family element, but not the WTC side due to joint income. Still worth completing the application and let them tell you if you are entitled to something. Remember to update them with any changes (ie wife going back to work/childcare costs) and they will recalculate.
Childcare voucher scheme - depends on whether your employer offers this, but a tax saving if they do (as said above).
The directgov site is a good start and there's a few benefits calculators around on the net.
Best of luck for the big day too!
Child Trust Fund disappeared a budget somewhere - but Junior ISAs come out in November
Ask for an application for Child and Working Tax Credit - at £42k joint income I think you'd get the baseline £545 pa family element, but not the WTC side due to joint income. Still worth completing the application and let them tell you if you are entitled to something. Remember to update them with any changes (ie wife going back to work/childcare costs) and they will recalculate.
Childcare voucher scheme - depends on whether your employer offers this, but a tax saving if they do (as said above).
The directgov site is a good start and there's a few benefits calculators around on the net.
Best of luck for the big day too!
Thanks everyone for the kind advice, much appreciated.
Looks as though it's £20 per week child allowance, maternity pay and a junior isa, not too bad really.
Were about half way through doing the house up, all light coloured walls and carpets so it's ideal for a baby! Can't wait to see all my hard work destroyed! Will all be worth it though, were really looking forward to becoming first time parents, from what i've seen of other parents it's a very rewarding and exiting time.
Regarding second hand and hand me downs, we saved a fortune buying the pram second hand, to look at it you'd never know it's not new. We've been very lucky with family and friends buying us cupboards full of clothes and toys.
Looks as though it's £20 per week child allowance, maternity pay and a junior isa, not too bad really.
Were about half way through doing the house up, all light coloured walls and carpets so it's ideal for a baby! Can't wait to see all my hard work destroyed! Will all be worth it though, were really looking forward to becoming first time parents, from what i've seen of other parents it's a very rewarding and exiting time.
Regarding second hand and hand me downs, we saved a fortune buying the pram second hand, to look at it you'd never know it's not new. We've been very lucky with family and friends buying us cupboards full of clothes and toys.
Edited by ChrisRS on Sunday 16th October 17:12
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