Post # 1
DH and I are considering TTC in April.
I feel like we are maybe not as financially sound as we should be for TTC. I would appreciate everyone’s opinions based on our info. And if anyone is in a similar standing and has TTC or had a baby.
We have $11000 in credit card debt, but that will be paid off my July/August. We have about $35,000 in student loans-we both went to grad school. I have a job that I just started in September and he is currently employed but in the process of finding a new job due to his company closing down soon. He has been on mnay interviews so I know he will have a job with same or higher salary when he leaves current job. I would take some unpaid time off when I have the baby. We have $8000 in savings. We will need a new car in the next year or so.
I keep going back and forth if April is a good time to try or if we should wait longer to save more money. What do you think? It is always on my mond and outside perspective would be great!
Post # 3
i think there is never a “right time” to have a baby. i say go for it, if you wait for the perfect time it might not happen!
Post # 4
- Wedding: November 2014 - Mauritius
It’s really hard for anyone to tell you if it is or isn;t the right time. I say there is never a right time and there will always be someone who disagree’s or doesn’t think it is the right time. If you guys are ready to TTC then go for it 🙂
Post # 5
- Wedding: November 2013 - St. Augustine Beach, FL
I agree with PP, there really isn’t a perfect time to start (unless you win the lotto!) It sounds like you’re doing okay financially and so long as you have medical insurance and a plan for caregiving for the baby after it’s born, you should be fine.
Post # 6
@jessmex12: Honestly, if I was in your position I wouldn’t feel comfortable starting to TTC quite yet. I would wait until he found another job and had a few months under his belt, the $11k debt was paid off and you had saved up some more money. We personally like to have at least 1 year of expenses in our emergency fund and wanted to have an additional $25k before having a child (for medical costs, maternity leave, baby supplies, etc).
I’d start looking into the cost of daycare and how much the birth will cost, estimated monthly car payment when you get a new car, etc. to see if your budget will allow for the additional costs (factoring in the loss of income when you take leave).
There’s never a right time to have a baby, but there are better times then others!
Post # 8
@jessmex12: There isn’t a right time to have a baby but I would def dump about half of your savings right now into your CC debt…the money you are losing on interest to the CC can’t even be close to the interest you are making on your savings ( unless you have a no interest card or did a no interest balance transfer)
CC debt can be a bitch to get out of, I would probably try to get that number to 0 befoe TTC, especially if you are going to need a new car soon. Car payments and CC payments will take away a lot of your income to save. I personally would wait until 0 CC debt and your hubby secured a job first. What if he can’t find one when you are pregnant?
But thats just me! If you feel it is right for you, go for it!
Post # 9
I would wait to pay off any bad debts, ie credit card debt. But I have to admit I am on the conservative side when it comes to money/debt. However if you are on track to finish paying that off in June/July I wouldn’t see a problem in starting in April, as long as that doesn’t change when it would paid off by.
Post # 10
I would say that if you feel ready, go for it. The money you need will come. I have a 1 yr old DD and we received and bought way too much stuff. Newborns really don’t need all that much to be happy. Even now my DD would rather play with non-toy items and while I like having lots of clothes and not having to do laundry everyday, it’s not a necessity. Shelter, warmth, food, medicine & clothing…everything else is just extras.
I agree with @beachbride1216: that having insurance in place & child care planned for is important. Good luck & all the best.
Post # 11
I wouldn’t put off TTC because of the debt so much; that’s bound to happen after so much schooling. I would, however, wait to start TTC until both of you have solid careers and access to decent health insurance. It’s such a personal decision though!
Post # 12
We have 140k in debt and no savings and still plannning to TTC so if you ask me your doing EXCELLENT!
Post # 13
I agree with putting a large chunk of that savings twd the CC debt. What’s the point of having 8k in savings when there’s 11k in CC debt. I’d actually go ahead and put almost all of it to pay off the CC if it’s high interest. (If it’s 0% or very low, go ahead and take your time with it) Then rebuild the savings by July/Aug. Worse come to worse if you suddenly NEEDED say 2k before then, you may not have the savings for it, but you could charge it again. Yes if you didn’t put the cash toward the CC, you’d have the cash for it, but in the end you’re no worse off than if you had the cash but still had the debt. In fact it works out in your favor cause you’ve saved on the interested for all that time… and that’s only if you get in a pickle and needed a lot of cash real fast.
The only reason I might delay is because of the unknown job situation if health insurnace is with your husband.
Post # 14
As PPs have said there really isn’t a right or perfect time to have a baby, but you could definitely wait a few months to make things a bit more comfortable for yourselves. If you started TTC in April, and ended up pregnant that month then your credit card debt would be a non-issue if you think it will be wiped out by mid-summer. As long as you are 100% sure that it can be wiped out by then I wouldn’t worry about that. As for your student loans $35,000 is a lot of money, and as long as you both have the means to pay your share each month I wouldn’t worry about that one either. Student debt is a part of life now, and it’s not even really considered to be “bad debt” as much as it is debt that needed to be acquired to advance in your careers.
I think the only thing that I would wait for is for your DH to hear back about a job. He could have a hundred interviews and still not be guaranteed a position, so if he isn’t stable in a position by April I wouldn’t start TTC until after he is, or if you do decide to TTC in April I would tell him to hold off on finding something new for a little bit and just save as much money as you can for the time being. If DH does find a new position he should be told if the company has any kind of probation period where he could be let go for pretty much any reason. From my experience it is about 90 days, so I would wait to TTC until that period of time is over. It most likely wouldn’t throw your timeline off by too much if he starts getting offers soon.
Post # 15
I would wait until DH secures a new job before TTC!
I would also work your finances around paying down that CC debt. But that’s more of a project than a hold-up thing!
Post # 16
I think anytime is the right time. You don’t seem to have any more debt than the average person. I would probably wait until DH has a new job lined up – but that would be all. Plus keep in mind TTC does not necessarily mean a baby in 9 months. I only say this because we were going to wait a 6 months to a year to TTC and decided – screw it lets just go for it and we have been TTC for 7 months already.