2007-08-08 10:08:27 · 7 answers · asked by kitkat94558 1 in Business & Finance ➔ Personal Finance
Only if you have 6 months living expenses in an emergency account, are investing 10 - 15% of your income for retirement, have a very marketable skill.
But let's work some figures. You cost, from birth to age 17 will be$184, 320. That's about $11,000 a year. Can you afford that?
2007-08-08 10:20:22 · answer #1 · answered by Anonymous · 0⤊ 1⤋
By yourself? Well, do you get maternity leave? With pay? How long?
$20 an hour is $800/week. With a child, you should bring home maybe $600 after taxes and insurance and retirement are withheld.
No student or car loans, no credit card debt. Can you get a place to live for $1000 a month? Maybe depending on where you live and how big/nice it is. That leaves you $1600 a month (on average)
Figure
$300 for food,
$200 for diapers,
$100 for regular utilities,
$100 for some combo of phone, TV, internet
$100 for gas
$100 for car insurance
$100 for clothes and laundry
$600 for child care
$100 medical co-pays and deductibles
-------------------
$1700
Maybe you can find $100 in savings, but you better not have a car accident or need to buy a car seat or even a potty chair when that time comes.
2007-08-08 10:32:49 · answer #2 · answered by Sarah C 6 · 0⤊ 0⤋
Of course, not knowing where you live and your city's cost of living, I would still think that you are well set to support a child. I'm a single mom w/ 2 teenagers (translation: costly) and I only make $12 an hour (and don't receive child support) and we make it just fine. Sounds like you got a good head on your shoulders for even asking yourself this question, so I say go for it! You will make a great parent and provide a stable environment!
2007-08-08 10:19:22 · answer #3 · answered by YukiCat 1 · 0⤊ 0⤋
That come to about $41,000 a year. That is about the median household income in the US. In other words, 50% of US households make less than that amount. You should be able to support a child with that income.
2007-08-08 13:14:18 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
I think so, I wish I made 20 an hour
2007-08-08 10:29:05 · answer #5 · answered by shorty21 5 · 1⤊ 0⤋
if your making 20 ,then someone is getting thirty-five off your work.so you are paying for his kids. become self-employed.
2007-08-08 10:15:17 · answer #6 · answered by Anonymous · 0⤊ 2⤋
sure i did it with less than half and most people do have less than that
2007-08-08 10:15:48 · answer #7 · answered by infoman89032 6 · 1⤊ 0⤋