How much house is in it?

2018-10-01 16:25:53

In the first years, a child costs almost nothing, unless you are one of those who like to spend 10k€ on the initial equipment and dress the child in designer clothes from birth, then add private daycare for 800 per month, then it adds up.

2018-10-01 16:36:27

Okay, then let's just run through the scenario with 2 kids after all. Since I have no idea what a child costs, I asked Aunt Google and it says that on average it’s 130k up to the 18th year of life per child. Then I calculate 150k per child because we live in the south and I even tend to bring a surprise occasionally for the cats (would be higher for a single child but things like daycare, baby clothes, etc. can sometimes be taken over from the firstborn).

So, 300k over 18 years is 16,600 per year and thus 1,400 per month
The child benefit calculator tells me that in 2018 for child 1+2 each there is 194€ per month from the state. For 2 children that is 388€.

That means actual child costs of 1,400-388 = a squeezed 1,000€ per month
Männe earns 3,400 consistently (I’m deliberately calculating without a promotion)
I then get parental allowance, 65% of my net income of 2,700€, so 1,755€
Household income during this time: 5,155€

So with me on parental leave plus 2 kids to take care of, we still have 4,155€. Subtracting 2k installment leaves us with 2k euros per month for insurance stuff, food, private expenses, etc.
But then fuel costs go down, since I no longer drive 90km to work every day, but rather shopping and no-idea-what routes in the area.

That should be doable for a limited time until I could work full-time again.
Or did I calculate completely unrealistically? Seriously, I have absolutely no idea how much a child costs or how parental leave works. Just quickly looked up some figures on the net.

After deducting 450€ house ancillary costs and living expenses, you’re moving based on your quick calculation somewhere around a theoretical savings rate of 500€-0€. Then no more thought can be given to special repayments. Nor to a used car or car workshop if the car breaks down.

But apart from that, Lumpi is right My personal guess is that you would have about 1000€ left monthly. But from that all the crap still goes off that you and we haven’t thought about yet, because only you know your expenses.

Also, a new build is never finished. There’s always something else coming up.

2018-10-01 16:50:44

So you forgot to include the 90km commute as fuel costs in your expenses? Did you forget any other items?

2018-10-01 16:51:37

Yes, but even then - I have calculated with a completely constant salary current state today. Let's move forward 5 years, when apparently all clocks start ticking. With 8 years of SAP experience, which my husband would then have, he would be comfortably at 75k gross, which with tax class 3 is roughly 4,000 net. Hopefully, by then I will also have made progress and could then land at 65k gross with my nearly 7 years of SAP, which according to tax class 1 would still be about 3,000 net. With parental allowance, that would then be almost 2,000. That would bring our household income back to 6,000, despite parental leave. And then we would be "only" 1,000 euros worse off than today.

2018-10-01 16:59:23

Hubby […] tax class 3. I […] tax class 1

Apart from the fact that tax classes ultimately say nothing, 3/5 belong together or 4/4 (possibly with factor). 1 is completely out for married couples.

2018-10-01 16:59:34

Parental allowance is limited to 1800 net

Tax class 3 and parental allowance guarantee a fat refund.

So a few factors where you calculated nicely.

How much house is in it?

Lumpi_LE

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