Community› Local Wedding Boards› Minnesota-Minneapolis and St. Paul
Minnesota-Minneapolis and St. Paul
New Discussion
Options

Let's talk babies!

nordkenordke member
First Comment
in Minnesota-Minneapolis and St. Paul
So, although most of us are probably so focused on our wedding planning now, I'm sure the thought of babies is not far behind. Being the money stickler that I am, and thinking that we'll never have enough to have a child, I'm curious to know how much money in savings people tend to have before they have a child. FI already has two kids from a previous marriage, so we're only "planning" to have one more, but I freak out thinking about the cost of one more child, but not that that would stop us anyhow. I'm afraid to really research much about it, or check on The Bump, but curious, from those that don't mind sharing, how much do you plan to have saved up before having a child?
Report Reply to Post

Re: Let's talk babies!

  • Options
    FutureMrsSheelerFutureMrsSheeler
    First Comment
    edited December 2011
    I guess I've never thought about "how much," we've both just said that when were both in stable, well paying jobs, then we will start trying.
    image
    Report Reply
  • Options
    FutureMrsS13FutureMrsS13 member
    First Anniversary First Comment
    edited December 2011
    Ive never thought about saving money either honestly. Just make sure we have good jobs first. But saving money is a good idea if able too!

     While your pregnant i guess u have that time period to save too  lol!


    Report Reply
  • Options
    PoliceWife104PoliceWife104
    First Comment
    edited December 2011
    In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/local-wedding-boards_minnesota-minneapolis-st-paul_lets-talk-babies?plckFindPostKey=Cat:Local Wedding BoardsForum:81Discussion:72553b46-b477-49d8-b3b0-f895359f2ebdPost:75a9679a-5184-4c1c-a4f8-e135b2147311">Re: Let's talk babies!</a>:
    [QUOTE]I guess I've never thought about "how much," we've both just said that when were both in stable, well paying jobs, then we will start trying.
    Posted by FutureMrsSheeler[/QUOTE]

    This!
    Report Reply
  • Options
    colstj1colstj1 member
    Combo Breaker First Comment
    edited December 2011
    I agree with what the others have said. We haven't necessarily decided on an amount to set aside for a baby, we just want to make sure we are happy and comfortable with where we are at.
    ------------------
    image
    My Planning Bio - Update 8/5/12
    Report Reply
  • Options
    aligrossaligross member
    First Comment First Anniversary
    edited December 2011
    Working in the world of education/child development this conversation comes up A LOT! A lot of people will advise you to have enough money put away so that in the event of one of you losing a job that you, your husband and your new baby will be able to pay all bills for 1 year total without feeling a complete financial crunch. FI and I have talked about this a lot because we're watching my best friend who is married and has 2 kids struggle because she lost her job over a year ago and they are constantly bickering because of the money situation (she has always watched all of her pennies, her H not so much)As a couple we have decided that once we have over a year's worth of mortgage payments, car payments, and other necessary bills saved up to live off of for a year or so then we will start having kids. Always a thought but factor in all the costs of having a baby - medical bills (including all those stinking co pays for every cold, flu, virus etc they will have because of daycare or being out in public), daycare costs, and then of course the essentials. I don't think there is a magical number but it has to be agreed upon by you and your H and then talk about the "what ifs" and see where you want to be if you loose a job, have medical issues due to the pregnancy, etc!
    Our Bio! Updated 1/4/12
    image
    Report Reply
  • Options
    abbywisabbywis
    First Comment
    edited December 2011
    We didn't have anything in savings when we had DS.  We did/are doing okay.  It was a relief to be able to switch to whole milk though.  It's criminal for formula to be so damn expensive.
    Report Reply
  • Options
    rachi1285rachi1285
    First Comment
    edited December 2011
    My FI also has two kids from a previous marriage. We're planning on waiting at least a year after we're married to get pregnant, although if I have my way it'll be exactly a year and no longer! We're planning on living below our means so we can build up our savings though, and hopefully buy a house in the next two years!
    Anniversary Baby Birthday Ticker Ticker Baby Birthday Ticker Ticker
    Report Reply
  • Options
    tpender13tpender13 member
    First Comment
    edited December 2011
    We haven't necassarily talked about savings for kids, but we've said that we'll start trying when we're living in a house and not our tiny apartment. We'll start looking at buying a house once we've got our debt (nothing crazy, just a couple of credit cards and my student loans) paid off, so hopefully within a couple years.
    image
    Report Reply
  • Options
    I Want CakeI Want Cake
    First Comment
    edited December 2011
    I'm pregnant with twins now, and I think we'll have maybe $3,000 or so saved up, but we aren't intentionally saving for the kids, we're just "not spending" for them.  I really think it has a lot more to do with your lifestyle than a set amount.  H and I are older and we've both been at our jobs for over 11 years apiece, plus we own a house, which I guess is what you'd call financially stable.  I have excellent insurance because I have a county job, so we're really not worried about medical expenses going forward.  We'll be stable enough that I can take a 3-month maternity leave (one month fully paid, 2 months at 60% short-term disability) and either telecommute half-time or come back to work part-time once my leave is through - but work back up to full-time by the time the kids are a year old.  With where we are in our careers, it's HIGHLY unlikely that either one of us would find ourselves out of a job by anything but our own choice.  I'm union with really good senority and H is vital to his employer.

    The only real financial concern H and I have is daycare.  It's going to be harder to find it because there will be 2 kids, and infants are the most expensive.  Luckily, my mom is going to babysit twice a week, and I'll be home at least once a week when I go back to work, so we're really only looking for no more than 2 days per week of daycare, which is still pretty close to a full week for one kid.  As for the other stuff, we'll take it as it comes.

    Where I work, I see women day in and day out with plenty of kids and zero resources (besides welfare), but they make it work.  You don't have to have money socked away to have kids, but you do need to make them a priority in your financial lifestyle.  Every day I see the worst case scenario and am really grateful of how really well off H and I actually are.
    Report Reply
  • Options
    graysquirrelgraysquirrel member
    5 Love Its Combo Breaker First Comment
    edited December 2011
    We've never thought about it since we are both not ready for children. The idea right now makes me shudder-- I'm not the mom type. If we do have any, we will want as much money as possible because they always cost more than one would imagine. 
    Photobucket
    Report Reply
  • Options
    newlyseliskinewlyseliski member
    First Anniversary Combo Breaker First Comment
    edited December 2011
    We'll start TTC when DH is exactly nine months from being done with school!
    Report Reply
This discussion has been closed.
Choose Another Board
Search Boards