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Thread: Babies?

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    #1

    Babies?

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    My DH and I have been discussing having kids for awhile now, but I want to make sure that we're financially ready for them before we start trying. Growing up money was really tight for my mom and I don't want to have to go through the stress that she went through. We've already decided not to have kids until his credit card is paid off {he had a bit of debt before we got married and his card is the only thing left to pay off}, but I was wondering how much a person should have in savings for kids? I know I'll probably get different answers because everyone feels different when it comes to saving money, but any advice would be appreciated since this would be our first child and I have no idea what to expect when it comes to expenses.
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    #2
    We were totally unprepared for our kids, but they are just fine. I don't think there is a set number on how much you should have in savings. I think the main thing is that you feel ready to put someone else before yourself.
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    Honsetly it is really all depedant on what your choices in supplies are : Second hand stuff vs. All new stuff /Having a shower or not/ using WIC or not.
    Then theres staying home or working which could make an impact too.
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    #4
    For us it was not really about the amount we had in savings because when our child is born its not savings we plan on using to provide for them. Savings was/is a part of our plan as far as wanting enough in there to cover our basic expenses for 8-11 months, but it was not a necessity like some other things were.

    The requirements for us were to have a house, DH to have a job with job security (we waited until he was close to getting his tenure where he is now), us have an income to where I could stay home if need be, and have reliable cars.
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    #5
    Quote Originally Posted by Sweetie View Post
    Honsetly it is really all depedant on what your choices in supplies are : Second hand stuff vs. All new stuff /Having a shower or not/ using WIC or not.
    Then theres staying home or working which could make an impact too.


    It's really hard to say. For us it was always depends on how much we had at the end of te month I guess and how comfortable we were. Also health care which we have through the military was important
  6. his baby sloth
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    Thanks for all the advice. I already don't work so I'll definitely be able to stay home so that decisions been made. I guess my post was a little unclear. I don't intend to use the savings for everyday baby expenses, but I want to have enough money to cover unexpected things that may or may not come up and was wondering what a good amount would be.
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    #7
    I don't really know of any unexpected things that would come up other than health related things but like I said I wanted to make sure we had health care. Some unexpected things we had to pay for honestly was his bedroom set. I went in thinking my family was going to purchase it for us like they did my sisters but nope. We also expected big gifts from his side of the family as well. They promised us our travel system then a week before my baby shower when I was suppose to get it was told "I'm sorry we aren't getting you guys anything" so that was an added unexpected expense. But I mean if you're not planning or hoping anyone to help you then you'd probably have that factored in.
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    #8
    Quote Originally Posted by Heather33 View Post
    Thanks for all the advice. I already don't work so I'll definitely be able to stay home so that decisions been made. I guess my post was a little unclear. I don't intend to use the savings for everyday baby expenses, but I want to have enough money to cover unexpected things that may or may not come up and was wondering what a good amount would be.
    Well again that may just depend on your excact circumstances ( i'm sorry i'm not trying to be rude i'm just trying to be honset )
    The only one I can think of off the top of my head is :
    You are unable to breastfeed and you don't qualify for much WIC help : YOu could be looking at 135 bucks a month in formula alone . 13.50 for a thing of standard enfamil, my daugther can go through 7 to 10 cans a months
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    #9
    Quote Originally Posted by Heather33 View Post
    Thanks for all the advice. I already don't work so I'll definitely be able to stay home so that decisions been made. I guess my post was a little unclear. I don't intend to use the savings for everyday baby expenses, but I want to have enough money to cover unexpected things that may or may not come up and was wondering what a good amount would be.
    Do you two already put a certain amount into savings a month?
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    #10
    Quote Originally Posted by Sweetie View Post
    Honsetly it is really all depedant on what your choices in supplies are : Second hand stuff vs. All new stuff /Having a shower or not/ using WIC or not.
    Then theres staying home or working which could make an impact too.
    I agree with this. I didn't really get a shower, so we bought pretty much everything ourselves, mixed new with second-hand stuff, haven't gotten on WIC but I REALLY need to apply, etc. Oh and I bought cloth dipes instead of using disposables. And I breastfeed instead of formula.

    So it's been fairly expensive, but nothing impossible. Oh and we weren't prepared at all before I got pregnant.
    ​​​

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