(Closed) Did you save up before having a baby?

posted 8 years ago in Babies
Post # 3
15135 posts
Honey Beekeeper
  • Wedding: June 2011

We didn’t specifically save up for a baby, but we always try to keep at least 10k in liquid savings (which gets added to each check and goes towards things like cars, home expenses, etc) and 1 year living expenses in emergency savings.

Post # 4
1652 posts
Bumble bee
  • Wedding: July 2011

No, but we made sure we didn’t start TTC til we knew we were in a good financial position to do so.

Post # 5
2892 posts
Sugar bee

We’re not TTC…yet…but have solid plans to try in a couple years. Until then we’re having fun and socking away every last penny we can. We just paid off some of DH’s old college debt (guy had a little too much credit card fun) which opened up a lot of income for us to start saving. Don’t get me wrong, we already have a healthy cushion of liquid assets but I just feel like we’d be high out of our minds for not try to super charge that savings pre-baby. For all we know it will be the last time we have that kind of disposable income. It’s not really *for* the baby but rather taking advantage of an opportunity *pre* baby. 

EDIT: I’ve also seen how life seems to get slowly more expensive as time goes on and I know a baby will definitely take a bite out of our monthly income. So, I’m in the middle of a small career change to boost my earnings because we want to be prepared for worst case scenario – really one that involve us being forced to have one of us stay home with the baby full time. I can afford to support DH right now but it would be really tight. With this new job I’d be able to support him and perhaps still be able to save. And since I’m the primary earner it’s really important for us.

Post # 6
881 posts
Busy bee
  • Wedding: September 2012

No, but we have a good amount of savings already.  We started looking for a new house while TTC and made sure to budget for daycare and other expenses when calculating our monthly budget for the mortgage.  I did stop shopping so often while we were TTC but that was mostly because I was hoping the clothes wouldn’t fit me much longer!

Post # 7
7643 posts
Bumble Beekeeper
  • Wedding: July 2012

We are waiting until summer to start, but by that time we will have his car paid off, which is one thing we wanted gone before a baby. Otherwise we would be able to afford a new house and baby at the same time. We are making sure we could be financially responsible for a baby before we even try.

Post # 8
920 posts
Busy bee
  • Wedding: September 2011

Nope! And we have like zero savings.  We put a lot of extra money towards our mortgage each month and our cars are paid off.  We can stop that when necessary.  I have a flexible spending account we are putting 50 a paycheck into for the medical bills ( my insurance is free but we have a 1200 maximum out of pocket).

People get all crazy about money before the baby comes but you will figure it out if you don’t save.  You will know what you have to cut.

Post # 9
4499 posts
Honey bee
  • Wedding: September 2010

I made a real effort to get my (huge) student loans paid off before our baby would be born. I owed almost $900/month in payments, and I just didn’t want that hanging over my head with a baby on the way.

So, my student loans are gone as of last month, and now I’m focusing on reaching $10,000 in accessible savings before the baby arrives (early June). Once I reach $10k in savings, I’ll look into where else I should be putting my extra income — maxing out my 401k, education savings for baby, or higher-yield investments/savings.


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