Babies and money?
my husband and i really want to start trying but we're worried about the expense of a baby. we both have good, professional jobs, but are in our mid-late 20s so the salaries aren't as high as we'd like. we own a home and easily make our mortgage payments, but we also have some debts (which we also can afford). my husband analyzes everything and wants to wait because he didn't have a great life growing up. my opinion is that everything will be fine, we'll just have to budget better and start saving. what are your thoughts/experiences?
Answer:
A lot of people will tell you babies are expensive. Some things are but they don't have to squeeze you out of house and home. Lots of things can be purchased second hand in like new condition, etc. Also think about this... if you each give up your morning coffee on your way to work everyday you can save up to $400 per year EACH! There might be minor adjustments you have to make you just both need to agree that you are willing to make those adjustments.
In my opinion and experience, there is no "perfect" time. There will never be a surplus of money, you will always need more. If you feel you are otherwise ready, I'd say go for it. Don't wait for something that may or may not happen with your salaries.
I was once told by a financial adviser that no matter how much you make or how many children you have, you will spend between 15% and 20% of your take home income on children. I have found this to be true.
If you wait until you are perfectly financially stable to have a child.. you will never have a child. You sound ready to me.. as long as you can provide for your child, set aside some money for college (pre tax.. it's easier then you may think) you will be fine.
you can never afford children.
My hubby and I went through the same thought process. Then we finally realized we're not getting any younger and we really want to experience parenthood, so we decided to start trying last December '05. As we're learning, you never know how long it's going to take you to concieve, could be a year or longer.
Many people say you just make it work, and everything just works out, I think that's really true. You two seem like you have your priorities straight, you'll do fine. Good luck, baby dust to you and me! :)
My hubby and I are in the same position, except I have not yet started my career due to staying home with our baby boy (15 mos). We are 29 and 30 years old, with student loan debt, a car payment, rent etc! (all the usual expenses).
from my experience i can say this:
you will never be secure enough or have enough money to have children. They are VERY expensive but totally worth making the sacrifices. You have to be disciplined but can make it work!
Also timing will never be perfect. Finally my last opinion is on money. Ask him why his upbringing was not So great and I doubt is was only because of money. Money and things will not make a kid happy, they just want loving, available parents to care for them and take care of them.
you guys do really need to talk and pick timing that will work for the both of you! good luck and god bless!
Most probably, you should weigh out two factors or priorities in your life: money and the family. If you believe, the former is superior to the latter, you should probably abstain from having kids. It is not a biological necessity to procreate nowadays, especially, speaking about developed countries. Humanity will definitely survive without our contribution. So, the problem lies in the sphere of ethics and your moral credo. If you value the family above all, the question becomes meaningless, as children would come naturally in this case.
There is another aspect, namely, your parental fears. You might not feel strong enough to raise a child, which might be the case. Have you considered it as the true reason for your hesitation? Sometimes, we need to unveil what is hidden beneath the surface of reason.
heres some numbers for you --- a pack of huggies that will last one week is $10! a can of formula (if you don't breastfeed) is $12 and you will need two a week!! you can get a crib for about $100 changing table for about $50 blankets -- $50 baby clothes budget for about $100-150 per size (they wear a new size about every 3 months) -- baby food and toodler food--$30/week baby tylonle is about $8 -- gas meds $9--- babies also need alot of shots in the first two years of life and most insurance companies only cover a portion so you should expect to pay out of pocket about $400 -- oh and don't forget about maternaty clothes and post preg clothes (unless you are one of the few who can get back to pre baby size right away!
don't get me wrong having a baby is great and i love being a mom i was just trying to make sure that i fully answered your question!!
just remember that burlington coat factory baby depot has great clothes and great prices and you can always get coupons online for other stuff! babytobe is a good site to check out
If you have incurance and not living paycheck to paycheck, you will probably be fine. You have to take into consider that at some point you will be living on one salary or if you go back to work, the cost of daycare.
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