We are currently about to start year 3 of 5. We have a young family, didn't plan on husband studying during the baby making years but it has happened. DH is studying for mechanical engineering with honours from Canterbury University in NZ.
DS#1 is 2 yr 7 months
DS#2 is 15 months
and DD is due in May 2012
We survive on the student allowance with dependents, plus our IRD entitlements.
It is tight and we don't do alot of extra things without the help and support of family. Every year we go camping at Christmas, but yet we spend all year saving for it...
But we get by, every week is a struggle but so worth it.
I am a SAHM fulltime, wouldn't have it any other way. My eldest has just started daycare in Oct 2011, the little bt of extra $ it costs to send him there for two mornings a week is worth it for his development. When he hits three he will get 20 free ECE hours from govt, but then the two mornings he goes now,my middle child will take over.
I do however have 2 x housekeeping jobs to help us get by,these are cash in hand and for family members.
We just make sure that we don't have excess debt around us, no credit cards, no sky, basic internet and food selections.
Budgeting is essential! Planning on saving for the important yearly things.
Any other questions feel free to PM me.