Expensive baby?

Question

I have always wanted a family young and at my age I feel like I am very far behind for where I want to be. I know in the big picture I have plenty of time but if it was my choice I would have had a baby like yesterday.

It's mutually agreed on between my fiancé and I that we are waiting until after we are married. So we plan on starting to try in January of 2017. The main thing that is causing hesitation is money. We are surrounded by people that make 6 figures and raise their kids in accordance.

We make slightly below 40k a year. My fiancé will not be done with college for another 2 years. But I can't imagine waiting that long. I'm are wondering if it realistic to raise a family comfortably with that income.

Answer

People do it on a lot less. It can be done.

Answer

I'm told by everyone around me with kids, you make it work. You no longer worry about small purchases you enjoy making for yourself it becomes all about your children. And if your fiancé isn't done with school for two years, if you start TTC next January you'll be right on time for when he graduates considering the 9 month wait 😉 good luck to you both!

Answer

It can be done but it certainly won't be a cake walk and any luxuries you have now may have to be sacrificed for a baby, it's all about how much you want it and what you are willing to give up that the people around you may not have had to give up

Answer

I agree someone with a lesser income than yours can financially raise a baby however most likely they will qualify for Medicaid and other services. And there are those that make more money and have to pay for their insurance and deductible for all the medical expenses on top of all the goodies needed for a baby. I personally waited until we were done with school and saved up for the expected medical expenses. Wish you the best!

Answer

Yes, people on much less make it work. But, as someone said they qualify for Medicaid and other government care. You would not. I do not think anyone should purposefully get pregnant if they themselves can not provide for there family. But, sometimes God has other plans in mind. Truth is that there is no "perfect" time for kids. The one way to know if you really can afford a baby on your income is to make a mock budget. Especially because cost of living is different everywhere. 40k wouldn't be very cushy for 3 where I live, but it may be for you! Include all your utilities, groceries, rent/mortgage, savings, emergencies(ER/car fixes,exc), diapers/wipes (Amazon subscribe and save can save you lots), formula (even if you plan to breastfeed, make sure you can afford it. Sometimes women are not able to produce milk or other issues. So you want to be sure it's budgeted). I would also suggest at least an extra $500-1000 saved for anything you don't get from your baby shower. We had a large baby shower and still needed a good amount and had a handful of things we realized we needed after baby was here! Just look up some mock budgets so you don't forget anything, because I didn't mention every category (like healthcare products - toothpaste, shampoo, exc). I hope this helps at least a little!

Expensive baby?

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