Comments on: Can You Afford a Baby?

By: Marilyn Rittmeyer

Marilyn Rittmeyer — Sat, 01 Aug 2009 13:14:33 +0000

You don’t take one penny with you when you die. Children are a blessing. I recommend being as generous as you are able with your children while you are raising them and as they begin their independent life as young adults. I sent my 5 children to parochial schools, which used up a lot of our budget, but it was one of the best decisions I ever made in my life. My husband and I also help out our young adult children with the downpayment on their first home, not completely giving them the downpayment but giving them a good portion of what they need. This allows them to purchase their first home faster. Just a few suggestions from a mother who has “been there, done that”.

By: thefinancefiend

thefinancefiend — Fri, 17 Apr 2009 16:57:59 +0000

After the birth of our first, we have decided that when we get pregnant with #2 (or start trying) we will save up the max out of pocket amount for our health insurance. Even though we didn’t max out the whole family with #1, we figure its a good idea to be prepared in case additional health care is needed.

As for the loss of income, we went to one income after #1 and it was really hard. We were fine for the first few months, but after a while the additional money we had on hand was gone and we realized how poor we really were. So I totally agree that its a great idea to save up money for the first year. You never realize how expensive things like diapers and formula are until you shell out the cash.

By: Golfing Girl

Golfing Girl — Thu, 16 Apr 2009 17:07:19 +0000

At first I thought the numbers sounded inflated until I did a quick summary of what I pay each year (my child is 5 years old):
daycare 7200
ballet/swim lessons 600
college savings 300
clothing 500
food 720
bday parties 190
healthcare 1716
dental 360
Xmas, easter, 150
Annual Total 11736

I consider myself very frugal, especially when it comes to food and clothing and it didn’t take long to add up to almost $12,000 and I’m sure I’m missing a lot!

By: Our Tax Refund Story, Frugal Foods, Cheap Gas

Our Tax Refund Story, Frugal Foods, Cheap Gas — Thu, 16 Apr 2009 05:04:43 +0000

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By: Michele

Michele — Wed, 15 Apr 2009 17:57:21 +0000

For me having children was a given, so I prepared for it financially just as I prepared for my own needs. Children do not have to cost a lot. I had great insurance so we spent under $1000 for our delivery. Tax credits and deductions help. Craigslist and children’s consignment sales are great ways to get baby gear, clothes, and toys for very little money. Parks and libraries can take the place of expensive classes. The possibilities are endless.

One cost you didn’t mention, however, is the cost of “trying” to have a baby. For people with fertility problems, this cost can be in the thousands! Nice post.

By: Labor and Delivery - Labour Partner Tips

Labor and Delivery - Labour Partner Tips — Tue, 14 Apr 2009 07:20:37 +0000

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By: Weekly Round Up- Golf Edition | Good Financial Cents

Weekly Round Up- Golf Edition | Good Financial Cents — Sun, 12 Apr 2009 17:37:37 +0000

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By: * Weekly Highlights: April 12, 2009

* Weekly Highlights: April 12, 2009 — Sun, 12 Apr 2009 14:25:43 +0000

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By: Labor and Delivery

Labor and Delivery — Sun, 12 Apr 2009 11:42:03 +0000

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By: Greener Pastures

Greener Pastures — Sat, 11 Apr 2009 19:51:02 +0000

I think it’s the Darwinian instinct to pass on one’s genes that drives people to have babies. I’m sure many just so – “oh, it will all work out,” or “God will provide.” There’s many religions that frown on using birth control, and families are huge!

I think you should have to take classes and pass a test to have children. And part of passing the test should be that you can afford these kids!