Income before TTC?

Question

What *should* your minimum annual household income be before having that first child?

Answer

This is somewhat of a loaded question. If you don't have a lot of debt/expenses $30k would be plenty, on the other hand, you could make a million dollars a year and have so much debt/expenses that it doesn't matter how much you make. Kids cost money, but be fiscally responsible is more important that the amount of money you bring in.

Answer

Hmmm... I'm not sure how $30K could ever provide a good life for 2 parents and a baby. Maybe it would be "enough" but I think you'd need at least $70K (if not more) to provide good nutrition, enriching activities, and good financial investments and security blankets (e.g., retirements, savings, insurance).

Answer

Depends really, my husband and I have no debts and are amazing savers. Our income increases during the summer season but even during winter we do fine we live on approximately 30,000 to 40,000.. We always have plenty of money because we are always ahead in rent etc. We're an awesome team

Answer

Depends on where you live too...