Family Nest

Welcome to Family Nest. As mums and dads ourselves, we know how tight and precious time is for most families, so with Family Nest, you can get relevant, up-to-date information fast. Whilst we can't provide financial advice, we'll help you understand the important financial issues facing families. Family Nest - family finance made simple!

 

Baby budget calculator

Our baby budget calculator will help you to plan out your monthly budget, you'll find that everything's broken down into sections to help make sure that you don't forget anything important.

Before you start you'll need a few figures to hand (although we've added a few in to help you out):

  • Your household Earnings after Tax (pay minus tax, National Insurance and any other deductions)
  • Your Child Tax and Working Tax Credit entitlements (remember you can use our Tax Credits calculator to work these out)
  • An idea of your monthly outgoings: including money spent on food, utilities, insurance premiums and mortgage/rent.

1. Your monthly income£0.00Before Baby£0.00After Baby
 BeforeAfter
Parent One (Month Salary/Wages)

Your household's main salaried income.

Parent Two (Month Salary/Wages)

The second income where appropriate.

Child Benefit

Currently £20.30 per week for your eldest (or only) child and a further £13.40 per week for each child thereafter.

Childcare Contributions Paid by Your Employer

You may be able to get help from your employer - visit the Childcare Vouchers page for more info.

Child/Working Tax Credits

Do you know what benefits you're entitled to? Visit the Tax Credits page to find out.

Income Support (Inc Housing & Council Tax Benefits)

If you currently receive income support, your benefits may change when you have children. Please check with your current benefits office.

Income from Savings & Investments (after Tax)

Any income you receive from stocks, shares, savings, etc aggregated to a monthly sum.

Additional Monthly Income from Other Sources

Further income including ad hoc work, support from your family or child maintenance from an estranged partner etc.

2. Household spending£0.00Before Baby£0.00After Baby
 BeforeAfter
Mortgage or rent
Council tax
Water bills

You probably receive a quarterly bill so you will need to calculate the monthly average.

Gas, electricity and/or other fuel bills

You may have a mixture of monthly and quarterly bills so you might need to do a few sums to give yourself an average monthly figure.

Phone, internet, TV and Satellite Bills (inc license fee)

A standard license fee for a colour set is £145.50 or just over £12 per month.

Buildings and contents insurance policies

If you don't already pay in instalments this will be an annual premium that you will need to divide by 12.

Life insurance policies

If you don't already pay in instalments this will be an annual premium that you will need to divide by 12.

Credit Card repayments
Other loan repayments
Personal Pension contributions (additional to any already deducted from your salary)
Regular savings

Don't forget to include any savings provisions including child specific savings options like Junior ISAs that you will be intending to make.

3. Living expenses£0.00Before Baby£0.00After Baby
 BeforeAfter
Entertainment

Remember that after your baby arrives the type of entertaining you do may change, eg, you may have more takeaways, DVD rentals and friends round for dinner and drinks instead of going out.

Holidays

You may need to consider baby-friendly destinations and the practicalities of transporting everything your baby will need while you're on holiday.

Leisure activities inc Gym Membership
Travel (inc to and from work)

Obviously while you're on maternity leave this can be a big saving.

Car (inc fuel)

Any monthly car repayments that you make and an average monthly spend on petrol.

Food, toiletries and household basics (excluding baby stuff)
Clothing (excluding baby clothes)

You can take a monthly average to help you budget.

Additional Spending
4. New baby expenses£0.00Before Baby£0.00After Baby
 BeforeAfter
Childcare Costs

If you need help working these out please use our childcare calculator. If you just want a figure to be going on with then according to the Daycare Trust, the cost of a full-time nursery place ranges from £126 to £375 a week or £546 to £1,625 per month. For part-time care £190 is a monthly guide cost based on two 8-hour days a week. Please note that places in London in particular can cost a lot more.

Baby food and baby toiletries

Guide cost only.

Disposable nappies

Guide cost only.

Baby clothes

Guide cost only.

Nursery furniture inc Cot, decorating the room, etc.

These are really one-off expenses so you may or may not want to include them in a monthly budget depending on whether you already have the money to pay for them. If you need to save or pay in installments then use the 'before' (saving up before baby arrives) and 'after' (paying off the cost on a monthly basis) columns appropriately. You could allow £400 as a guide.

Baby equipment inc, prams, car seats, etc.
5. Other one-off expenses£0.00Before Baby£0.00After Baby
 BeforeAfter
Household items, white goods, furniture, etc.

Provide a figure that covers monthly installments from Hire Purchase agreements or if you're saving up or a figure that covers the amount you need to save each month. Remember to work out whether these are things you can afford before the baby comes when you'll often have a higher total household income.

Other
Total income£0.00Before Baby£0.00After Baby
Total outgoings£0.00Before Baby£0.00After Baby
Total Leftover

At the end of the month you currently have left over

 £0.00Before Baby £0.00After Baby
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Our calculators can help you to plan your household budgets, so you can take control of your family's finances.