Post # 1
I am 1 of 4 and Fiance is 1 of 6 and we both are the oldest. I always wanted a big family and thought I wanted like 6 or 5 kids. Fast forward to now and looking at my finanical situation I am not sure we can even have 1 kid. I have a mountain of school debt and Fiance salary pays all our bills while my $$ goes directly to my loans and my other living expeneses. Am I the only one out there that feel that they shouldn’t have kids because it will put them in more debt? Every time I think of this I feel so sad and just want to cry my eyes out.
Post # 3
I’m not in your exact situation, but am definitely blown away by the cost of children. However, if it’s important for you and your Fiance to have a family (no matter what size) maybe look and see what changes you could make to your lifestyle now to save even more money. Cut back on dinners out, buy store-brand items instead of name-brand, clip coupons for groceries and other services, etc. Then you could either put that savings toward your debt, or set up a separate savings account specifically to cover child costs so having a kid doesn’t increase your debt.
Post # 4
I am with you, I don’t know how we are ever going to squeeze a child into our monthly budget, we are barely keeping ourselves out of debt as it is. We still have a 10 year window before it is too late for kids so I hope it gets better.
Post # 5
I’m not in your exact situation either but I am currently 4 months pregnant and I know we can’t afford all of the baby costs. However, the one thing I’ve always wanted in life was a family. Like you, I wanted to have a big family as well but not because I did, but because I had a small family. We both want two kids and I think that will eventually be possible. We have no money saved for any of our upcoming baby bills but we will find a way. Everything always works out for the best. I just couldn’t give up something that is so important for me. I don’t think you should either.
Post # 6
Keep in mind you don’t have to be debt free to have kids. You just have to be able to manage your debt while paying your bills on time and paying for kids. Most people have debt (school loans, car loans and mortgages) and still manage to have kids.
Post # 7
Thank you so much for the words of encouragement.
I live in NJ and its one of the most expensive states to live in. I lost my job in 2010 and took one that pays about 1/2 old salary. We pay 1150 for a one bedroom apartment. My parents were able to have 4 kids on under 80k so I am hoping we will find a way. My Fiance just thinks we will never be able to afford to do anything fun.