For those of you TTC...not to be nosy, but what is your financial status'

Original post by cocoa

Dec 20, 2004 07:14 PM

I mean, are you well off or are you struggling? I ask b/c I hear so many people say that they won't start ttc until they are financially stable, but those who already have kids always say that you will NEVER be financially ready and i know of sooooo many people who have kids and started off with NOTHING...no college, no insurance, no house, some not even with jobs, but they are doing it. not like that is the BEST situation, however, I feel that if dh and i got pregnant, I wonder if we are really that poor off. Not that if we did, we wouldn't absolutely loooooooooove and adore a baby, but would we be terrible parents if we didn't have a house and weren't making a ton of money. i know it is hard on LI (hello, i soooo know this!!!) but I just want to get an idea of how everyone else is doing...do you mind sharing?

missmmpr Posted: Dec 27, 2004 03:28 PM

Re: For those of you TTC...not to be nosy, but what is your financial status'

I am very interested in this too...We decided to put of TTC until October..I just found out that since I am working p/t I do not get ANY maternity leave...I am trying to plan to have a baby in July so I can go back to teaching in September...I really would love to ttc in June, but we can't live just on my husbands salary...I am really bumped about it...

JennandTom Posted: Dec 28, 2004 04:22 PM

Re: For those of you TTC...not to be nosy, but what is your financial status'

My husband is a 1st year resident at Stonybrook hospital and does not make much money right now. Combined with my paycheck we do ok though. We are both 30 years old and live in the basement of his parents home. We owe $200,000 dollars from Student Loans that my husband took while going to medical school. One day he will be making great money as an anesthesiologist but right now it is hard.

We don't plan to wait until his residency is done and when he is making better money because that will mean us waiting for 4 more years. I feel at my age I do not want to take that risk. So if it happens we will be thrilled regardless of our financial situation. I know that it will be hard but I know my family will be very supportive.

You have to go with your heart.

tourist Posted: Dec 28, 2004 05:04 PM

Re: For those of you TTC...not to be nosy, but what is your financial status'

I wonder this too- I am not ttc right now, but if I were, I'd want to be a SAHM, at least for a while & & don't think we could afford our curreent apt on just FH's salary ( even though it is the larger of the 2) let alone buy a condo.

It is pretty hard to scale down from what we have right now--1 bedroom apt, 1 car. Don't travel a lot or buy expensive things for ourselves. . .

lilmrs Posted: Dec 28, 2004 06:07 PM

Re: For those of you TTC...not to be nosy, but what is your financial status'

Hubby and I both feel that we are in a good place in our relationship that was the first thing we considered. We have a house and live in a great school district, our students loans are just about paid off (only one left for a few hundred dollars) one car is paid off and we have money in the bank. Right before the wedding we looked at each other and both said, I am ready and we have been trying every since.

aliciahelene Posted: Dec 30, 2004 11:21 AM

Re: For those of you TTC...not to be nosy, but what is your financial status'

Im a graduate student, about to graduate in August (Thankfully) Dex makes a decent living..but we are living off of his income while I went to school for two master's..so money has been tight..we definately arent loaded by any means..this adoption isnt cheap..but we will make it work..and we will be fine! I dont think anyone is really ever financially ready..there are always mortgage payments, car payments, student loans, etc. Thankfully I will be working while our boys are in school and can contribute financially!

Karacg Posted: Jan 02, 2005 01:32 AM

Re: For those of you TTC...not to be nosy, but what is your financial status'

The longer you wait to buy a house the less affordable it becomes. You are better off getting 'points' and putting less down. Even if it is not the house of your dreams, at least it will be an investment. I had a co-op and made a killing on it in 2 years time.

But in answer to your question....DH and I have no $ issues. We both make 6-figures but we are both relatively cautious money-wise. We save some and spend some, but we won't throw it away. Having a baby is top priority for us (I am 38 and he is 39). I will probably stop working if I become a mommy.

I want $ to provide a home for my child, but not to buy the most toys or the fanciest clothes. I have a cousin who says she works so she can buy her kids lots of toys. Personally, I think they are better off with less toys and more mommy and/or daddy....

kelly4 Posted: Jan 02, 2005 09:47 AM

Re: For those of you TTC...not to be nosy, but what is your financial status'

My DH and I are both teachers who have been teaching for 7 years and have many credits past our master's degree so we are up there in the teacher's pay scale. I just finished paying off my car loan and my school loan. DH has no loans either. We just paid off our credit card and have $$$ saved in the bank. We rent out a small studio appt. in our house that brings in our food/spending money each month. I feel we are at a point that we will be able to comfortably raise a child or two. I feel very financially secure finally- it took a very long time!

I am going to be 32 and wish I didn't wait this long to start TTC. My friends had babies before they felt they were financially ready ('oops babies' -but wouldn't change a thing) and say there is no such thing as being ready financially- anything can happen and you just find ways.

Hazeleyes33 Posted: Jan 02, 2005 01:41 PM

Re: For those of you TTC...not to be nosy, but what is your financial status'

My dh and I don't make alot of money, compared to what everyone else says they make and we have 2 kids and a house. We have very little savings but are able to pay our bills and try and save a little each week.
I think people have the misconception that you need 'tons' of money to have children. You need to be responsible, have a job and are able to give your children the necessities in life and some extras. My children are 5 years apart because we could not afford 2 in diapers and 2 daycare bills. I work because I have to and I have the medical with my job.
As long as you figure out a budget that includes a child's expense, you should be fine. We don't take many vacations anymore but we will be saving to go to Disney next year.