How much "should" you have saved up before trying to have baby?

jbean08

We are talking about trying to conceive very soon, however want to make sure we have plently of money saved for our future, debt paying-off, and of course for baby and child care (and a down payment on a home to top it all off!). We are in an apartment and not ready to buy in these economy and at this point in our lives, but feel we are getting more and more ready for baby despite that! Does anyone have a set amount, percentage, etc that they feel is good to have saved before attempting baby? What are your thoughts??

Dr.Loretta

You don't have to own a home to have a baby.

Everyone is going to have different thoughts on how much you should have. Some think you should have everything paid off before TTC, some think you should have that as well as an emergency fund and a baby fund, some just chance it and make so as they go along.

You may want to try the Money Matters board on the Nest and see what they recommend. They can even have you post your budget and give you advice on what you can trim and where you should put your $ to get in the best position possible.

jp0129

If you wait till you can afford to have a baby. You will never have one.

 It would be ideal to have everything paid off and have tons put back for the future but in this economy that is hard.  My SIL and BIL thought that way and now its 6 yrs later and no baby.  Give yourself a budget and a goal if you havent hit that goal by the time you wanted to don't stress. It will all work out for you.

Good luck!

jeffsjayme

$1.

You'll never be rich enough to have a baby.  But somehow our parents and grandparents figured it out.

I'd look into Dave Ramsey to give you some comfort.  I'd want to: have a basic savings account, be out of major debt, know that I can afford to pay for childcare and the health expenses, but beyond that...you don't need a house or anything super big.

ShadyPi2001

Girl, there is never enough $ when you're having a baby and then trying to take care of one.  But it's amazing how you manage to make it even though you never thought it would be possible.  Baby's are expensive, just roll with it.

MrsRucinski85

A little back story... My husband and I have been married for almost five years before we got pregnant... we waited, not bc we wanted to save money but because it was important to us for me to be a stay at home mom. We waited till we had some of our big debts paid off so that when the time came I could stop working and we could still support our lives with just his salary. We have no money saved to speak of and I plan on working till the baby gets here, we just wanted to be prepared for after baby.

I think everyone is going to be a little different. I dont think you necessarily HAVE to save money. But it would be wise to think about your future plans. Do you plan on working after the baby is born? How is your insurance, will you have to pay out of pocket? How much is childcare, will you be able to pay for that...

Again everyone is different on how they handle their situation. I mean there are people who arent trying to get pregnant and do every day that just deal with it. But if you're trying or thinking about trying... I think its a good idea to think about the future and what your goals are. (but thats just my personal opinion)