People's opionions needed on having a baby?

Question

my husband I are weighing wether we should start a family or not. We both really want too but we wonder if we are finacially stable enough to do that.Here are the numbers
1. monthly income after taxes 3,000+
2. Credit card debt of 1,000
3. car loan of 311
4. Do not own a home
5. Have nothing in savings.
We just recently paid off two loans equalling around 10,000 dollars so we have nothing in savings. and we haven't bought a house yet because we haven't found anything we like. I think it would be wise to a job for at least a year to help save. But in other aspects i hear if you wait till you have "money" to have kids you never will have them. Im not sure do you "the reader" think we are finacially stable enough to have children

Answer 1

If you want a family, just go for it!!

You can make thousands of excuses as to why you shouldn't start a family, I need to be financially stable, I haven't "grown up" yet and the list goes on.

Believe me if you have a child you will make it, you just find a way. I went from a full time job to part time when our son was born and we have managed just fine.

Answer 2

My husband and I just went down the exact same road. Now we have a 4 month old baby boy. My advice is this: If you keep waiting for the right time, then the right time will never get here. On average we have about the same income as you do. We also have about the same debt, we have hardly anything in savings and we are in the process of signing papers to buy a house. The baby is the best thing that could have ever happened to us. Now because of the baby, we actually have a reason to save money, and a reason to pay off our debt quicker, and well, you get the point. Now, we cant imagine how we ever lived without him. My childs doc also recomended that we use Target brand formula because it is the same thing as Enfamil. We also use Target brand diapers and wipes. I have been working with children for the past 8 years and I know the difference between cheep diapers and wipes and expensive ones. Target brand is awsome. Here is a rundown of our monthly baby expence.
Formula $60.00
Diapers $30.00
Wipes $15.00
Meds, including Tylenol diaper rash cream, baby wash, etc.
$ 20.00
Advice on clothes- Buy a few nice outfits and try to get hand me downs for the rest because they grow so fast the it is scary. Other people will buy you enough clothes to supply you for a while. The start up cost for the crib, carseat and other essentail items is a little high, we spent about $1300.00, but it is worth every penny. Our son even has his own savings account. Hopefully this info will help you with your decision and if your decision is yes, then let me say congratulations and enjoy him/her because they grow up way too fast.

Answer 3

Go for it! You will find a way to provide and your expenses and debt aren't that bad. My husband and I have been trying for a baby and he is in transition right now because he is getting out of the Army. We decided we were ready and that was that. Yes we have expenses, who doesn't? There are many ways to save on baby needs. Generic brands work just as well, you don't have to have the latest stroller (Frog: $700+!) a simple one will work just fine. A used bouncer will work just fine, a crib and clothing without bows or tags that baby can choke on or pull off when teething you can get them used at baby boutiques (check the brand on bouncers, cribs and clothing for any recalls). For strollers, car-seats, bath seats, and high-chairs, it's better to buy them new because of the safety issue. NEVER get a used car-seat for a baby because you do not know it was involved in an accident or not. The stroller, you may be able to get this used, just check with consumer safety reports for recalled items. They have a list from the early '90's. You can go to you local bookstore on ways to save money on your baby. There are many Internet resources too. Parents.com.One other thing: When you decide you have "enough" money, you may find you don't conceive right away, and if you try now, even then, it can take up to a year for healthy couples; especially if you are going off of birth control (personal experience) so........GOOD LUCK and GO FOR IT!:)

Answer 4

PERSONALLY, I make almost that by myself and couldn't imagine having a child on my income!

I think you just need to add up all the potential costs associated with raising a child. Insurance, day care, food, clothing, necessities (diapers and such), "tools," (car seat, stroller), and figure out if you can afford those things. You will also need to decide what kind of lifestyle you want for yourselves and your children. Do you want their clothes from Baby Gap or Target, Can you say no to that new Louis Vuitton purse so that you can buy necessities for the kid, etc., etc., etc...

My sister and I have a single mom who made less than that and we never wanted for anything. So, of course it's possible, it just depends on what you would prefer.

I think the thing that does concern me most, though, is the fact that you have no savings. Maybe wait just one year to save as much as possible.

Or could always not try but not try to prevent. What God wants to happen will... if that's your sort of thing, of course. ;)

Good luck to ya!

Answer 5

ok, right it fairly is the deal. you are able to flow via with the being pregnant. you are able to enable your sister undertake, i'm specific you like your sister very a lot whilst you're prepared to try this for her. yet, are you able to stand to work out yet somebody else advance your newborn? With techniques and methods that could fluctuate from yours? even no count if it is your sister? What if this broke up you and your boyfriend through fact of his relatives or ameliorations of opinion? What if he or you replaced your techniques in some months? there's a lot to think of approximately there are execs and cons, sit down and make a catalogue. If the pros outweigh the cons then decide for it. If no longer, then do no longer. for sure you have a minimum of a few doubt on the grounds which you got here right here and asked the question. in case you have been virtually set on it, i do no longer think of absolutely everyone ought to alter your techniques. yet in the top, in simple terms the 4 of you are able to truly make up your minds. I desire you each and all of the final.

Answer 6

Honestly, my husband and I had the same concern when we were thinking of having our daughter......we had several depts and we were just starting to get back on top, but we decided money wasnt going to stand in the way of what we wanted most. And when we found out I was pregnant we were so happy and DETERMINED to do the best we could financially for this baby that in the matter of 9 mths we accomplished SOOOOOOO much ! We consolidated our depts, got a nicer yet cheaper rent, my husband found a better paying job that he loves ......everything just seemed to fall into place because we finally had the motivation and determination of a parent. Today we are still working hard to continue moving forward, our 9 mth old little girl has everything she needs and we are closer than ever to reaching our financial goals....AND ITS ALL THANKS TO HER ! ps your financial situation looks better than ours did, so I think you guys can do it !

Answer 7

We have a 9 month old. You make twice as much as we do. You find ways to make sure the baby has what they need. It looks like you do have the money to have a kid. We can't even think about buying a house yet.

Answer 8

let me tell you if you wait to have a child when you can afford it youl never have kids there very expensive but no amount of money compares to the love you will feel for your child so as long as your stable and want a baby GO FOR IT and goodluck in your pregnancy experience theres nothing else like it in the world.

Answer 9

Personally, I think you should wait a bit longer. Get that car paid down, get the credit card debt wiped out. If you could get a house with a payment close to what you're paying in rent you'll be doing good (even if it isn't your "dream home" at this point). You'll also want to get about 3 months worth of salary in savings.

Answer 10

I WORK PART TIME AND AM A STUDENT, MY FIANCE WORKS AND WE MAKE LESS THEN YOU. WE HAVE A 4 YEAR OLD AND ONE MORE ON THE WAY DUE IN OCT. IF YOU REALLY WANT A KID YOU WILL FIND WAYS TO MAKE IT WORK. IF YOU ARE STILL YOUNG ENOUGH TO WAIT, AND PATIENT ENOUGH SAVE MONEY FOR A YEAR OR TWO AND THEN DO IT.