Planning for a Baby Financially
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Category: Planning Pregnancy (trying for baby)
Forum Name: Planning Pregnancy (trying for baby)
Forum Description: Trying to get pregnant? Going through fertility treatment? Just planning your first or second child? There are many people out there in the same boat to help and listen and share with
URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=37947
Printed Date: 25 August 2025 at 2:30pm
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Topic: Planning for a Baby Financially
Posted By: misssara
Subject: Planning for a Baby Financially
Date Posted: 10 February 2011 at 9:45am
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Hi Everyone,
My DF (23) and I (24) are getting married in mid April, and have decided that we want to start a family soon after we come back from our honeymoon in mid May. YAY! We purchased our first beautiful home a couple of years ago which we love. We obviously have a mortgage though and together with the added expenses of a baby (when we do have one) and me leaving work once we do have a baby it will be a stretch financially. We have worked it all out and we will be able to survive on just DF income, but it will be tight! We have no idea about what type of payments we could be eligible to get from the government (IRD) when we have a baby, or if we will entitled to anything at all? We have savings and are “saving” for a baby so we will be fine when we do have a baby, but just want to know if anyone out there knows what we could be entitled to. I have checked the IRD website, but it really does confuse me. I know I get 14 weeks paid parental leave, but it’s all very blurry as to what we could be entitled to after that finishes. Any knowledge anyone has on this subject i would love to hear, thank you and sorry for the novel of a post 
Sara xx |
Replies:
Posted By: CarleyRose
Date Posted: 10 February 2011 at 10:03am
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Hey Sara
Go to the Calculator section in the ird website and you can calculate what you could get there. Goto the below link and click start. http://www.ird.govt.nz/calculators/tool-name/tools-c/calculator-wfftc-estimate-2011.html?id=homepage - Tax Credits Working for Families I hope this helps as i'm still a bit unsure myself, as we are trying for number 1 too! ------------- TTC Sept08 July10 FS APP ICSI#1 BFN-No frosties ICSI#2 BFN-2 Frosties FET-8th August - BFP 20/8/12 http://lilypie.com" rel="nofollow"> 
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Posted By: astral_monkey
Date Posted: 10 February 2011 at 11:09am
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I love that IRD have those calculators on their website. Such a brilliant site. Take advantage of them to give yourself an idea of what you could be eligible for, then when you've got everything sorted (ie. up the duff), maybe go into WINZ and talk to someone.
Going by the calculator emmap posted, DH & I will be eligible for $62 a week. Better than nothing. ------------- http://lilypie.com" rel="nofollow">  |
Posted By: GuestGuest
Date Posted: 10 February 2011 at 11:29am
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There's an article in Stuff about this today
http://www.stuff.co.nz/business/money/4636880/Budgeting-for-baby - Budgeting-for-baby |
Posted By: kebakat
Date Posted: 10 February 2011 at 11:30am
| With those calculations make sure you overestimate what your income will be. If you get a payrise or anything like that and you have been paid more than you are actually entitled to you will get a lovely bill at the end of the finanical year. But if you overestimate you will get less in regular payments but you get a nice payment at the end of the financial year to make up what you should have got. |
Posted By: misssara
Date Posted: 10 February 2011 at 11:45am
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Thanks everyone for your advice! That calculator link was super helpful! I couldn't quite locate it when I was looking before I posted this subject on OB! It looks like we would also be getting $62 a week! I am rather happy about that. I really thought we would be a big fat $0!! So YAY!!!
Also just read the article on Stuff! Very interesting! It just makes me more clucky! I can't wait unitil we start TTC! |
Posted By: WestiesGirl
Date Posted: 11 February 2011 at 12:17am
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I agree with kebakat re OVER estimating your income. So may people get it wrong and then wonder why they owe money. Also remember to estimate it for the financial year (April to March) NOT an annual year.
We also did a 'baby savings' as well so when we got extra bills or surprise car expenses etc we were able to use that. All the best for your wedding and good luck TTC ------------- Our Angel July 08  Gone but not forgotten
And to complete our family, our princess has arrived 
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Posted By: peanut butter
Date Posted: 11 February 2011 at 7:15am
| We were ones that got stung by getting our income wrong...well I didnt get it wrong, it just changed and I didnt understand how that affected it. At the start DH was pretty much in minimum wage and we needed EVERY penny. Then half way through he got a better job, I rang up and they reduced the amount, then I got a part time job so I got them to stop it...but as soon as I started workigng we were over the threshold to get anything so had to pay it ALL back!! Sucks. Now we just get it at the end of the year. |
Posted By: busymum
Date Posted: 11 February 2011 at 10:34am
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also look at www.workingforfamilies.govt.nz which talks about child care and accomodation supplement -------------  |
Posted By: CarleyRose
Date Posted: 11 February 2011 at 4:18pm
Thats the best way to get it aye, i mean at the end of the year, and then you don't end up with a yucky tax bill! ------------- TTC Sept08 July10 FS APP ICSI#1 BFN-No frosties ICSI#2 BFN-2 Frosties FET-8th August - BFP 20/8/12 http://lilypie.com" rel="nofollow">
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nzpiper wrote:Posted By: WestiesGirl
Date Posted: 11 February 2011 at 4:18pm
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Awww, boo that totally sucks nzpiper!
As a general rule I work ours out like: My Income + $5k DH income + $5k That way it allows for any bonuses, commissions and or salary increases. Chances of getting any or all of them are slim but then that way they owe us rather than vise versa! ------------- Our Angel July 08 Gone but not forgotten
And to complete our family, our princess has arrived
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Posted By: Smiles
Date Posted: 12 February 2011 at 1:16pm
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So, just so I understand this - if you earn over $74k gross a year you're not entitled to anything?
SUCKS! :oP ------------- 
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Posted By: Hopes
Date Posted: 12 February 2011 at 3:28pm
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I think some people in some situations are, Smiles - not sure what they are, though, I think for most of the part you're right.
Although, with that much coming in unless you had pretty huge outgoings, you should be cool. -------------   
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Posted By: Smiles
Date Posted: 13 February 2011 at 8:28am
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Thanks Hopes ;) It's called "owning a house in Auckland"...or should I say "having a mortgage in Auckland". Couldn't afford it otherwise.
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Posted By: Hopes
Date Posted: 13 February 2011 at 1:05pm
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Yea... Auckland house prices are nasty. -------------
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Posted By: jano1
Date Posted: 14 February 2011 at 8:31pm
| Yeah I agreee Smiles- 74,000 doesn't go far in Auckland when you pay 6-700 a week in mortgage and that doesn't cover rates, bills etc |
Posted By: Smiles
Date Posted: 14 February 2011 at 8:41pm
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Glad you understand jano1...I know it's easy for people to think that if you're earning over the threshold $74k then why would you need a govt payout. But for us Auckland-dwellers (who pay extravagant mortgages) it'll still be difficult to live on one income. -------------
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Posted By: Hopes
Date Posted: 14 February 2011 at 9:32pm
Yes, it can be hard to remember when your thinking revolves round the prices your paying somewhere else. $600 - 700 a week is so much - and a very quick calculation on my part suggests that you'd need to earn round $22,000 a year more (before tax) than someone in Hamilton paying $300 odd a week to be on an even footing  -------------
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