(Closed) How can we afford kids?

posted 5 years ago in Babies
Post # 107
Member
519 posts
Busy bee
  • Wedding: August 2014

Personally we couldn’t afford kids till my sister commented that she would like to be a stay at home Mom but couldn’t afford to. After talking she agreed she would love to watch our child. We will pay her of course but it’s alot cheaper than day care. 

We also are postponing buying a house till after our children start school and will continue to rent. For us we had to make priorities between starting a family and purchasing a house. 

Post # 108
Member
4448 posts
Honey bee

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Charliekins0517:  I agree about waiting until he has finished school for two reasons…money and time. If most of his free time is filled with school, you aren’t going to get much help with child rearing. That may work out okay or it could spell disaster for your marriage. You are young. You have time.

Post # 109
Member
463 posts
Helper bee
  • Wedding: September 2016

Holy mortgage. I’m a mom and I can tell you that the number one way to have money for children is sacrifice. I don’t get my hair or nails done, I don’t have a gym membership, we don’t spend a ton of money on dates anymore, etc. My son is 2 and his daycare is $800/month which is a huge chunk of my pay check At the end of the month. We had no idea how we were going to afford it either, but my fiancé got a great new job when our son was a baby, and we work hard and sacrifice extras to make it work. If I was making as much as you I would have a few kids by now! Lol. We both have full time jobs over minimum wage and I do a ton of overtime just to be somewhat comfortable. When I was pregnant we moved into a townhouse with cheaper rent, and we are saving for a house. I would love to have our dream house now, but it’s not doable with the extra costs we have as parents. maybe you could start a savings account and save up before you get pregnant? There are a lot of costs that add up, for example I wasn’t able to breastfeed and formula was $50 a week. I didn’t account for that cost when I was pregnant since I was planning on breastfeeding and it really added up. 

Post # 110
Member
213 posts
Helper bee

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Charliekins0517:  I’ve read through all the replies and while I agree with previous posters that your high mortgage to moderate income is the problem; I also wanted to commiserate that you are not the only one having to make these difficult choices.

I’m 31 and my DH is 36.  We are currently pregnant and thrilled.  Our combined salaries are a fair bit higher than yours – due to a few more years in the workforce; particularly for DH.  We struggle with the idea of buying a home.  We currently rent a 2 bedroom apartment in an east coast city for $1,500/month.  If I were paying the same amount as your mortgage (which we would be if we purchased a 3-4 bedroom town home in a not-so-great school catchment with 20% down and a 15-year term) I wouldn’t be in a position to be financially comfortable having children.  

My parents, who owned their own home in their young 20s and had children as soon as they got married don’t seem to understand why one can’t just do both as long as you have some sort of stable income.

Post # 111
Member
340 posts
Helper bee
  • Wedding: October 2016 - Waldorf Astoria, Orlando

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Charliekins0517:  Hey I don’t know if you know how to close your threads or not.

If not, it’s at the bottom next to “reply”.

 

Just figured I’d give you advice since you’re still quite new here and you seem to be “done” with your post.

If not, I’m sorry and I totally misinterpreted you. Just trying to help out.

I wish you and your husband nothing but happy, fulfilled lives.

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