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Back to your OP, my husband makes enough money to support both of us so I don't work, but I never thought that I wouldn't work. I have my masters too, and my last job was as a teacher making $14,000/year. Ridiculous! I know what you mean about being ashamed of your paycheck. You're doing the right thing though - working hard and keeping your head up.
I'm sure you know how fortunate you are. I make more than my husband and I'm in the mid-$30k range. He also has no savings and debt so I bear more of the financial burden.
My goal is to get preggers this year and give birth next year at age 34 and I'm afraid to wait much longer than that for fertility reasons. But I'll look into every way I can to cut expenses.
I'm sure you know how fortunate you are. I make more than my husband and I'm in the mid-$30k range. He also has no savings and debt so I bear more of the financial burden.
Yeah, I do know that we're lucky. Things worked out; it could have easily gone the other way. We have been willing to move across the country three times now to keep that security. If we had been married to one locale, the story would be different.
Have you priced daycare for infants where you live? Because where I live, it's about $850-1,200 per month.
Kids DO cost money- frequent co-pays for many,many doctors appointments during pregnancy and first 18-24 months. What if you can't breastfeed and need formula? Then they grow up and even just signing up for sports through the YMCA and buying clothes & shoes as they grow quickly costs $$$, even if your frugal. Car seats, crib & mattresses, stroller- lots of crucial "start up" costs to keep baby safe.
Not trying to discourage you, but $3,600 a year is probably nof enough money budgeted for a child if you will need daycare. You two make $50k range and have NO savings. Adding a child could be a recipe for disaster.
Well, I try to only spend on what is neccesary and I don't consider movies, dinners or clubbing necessary. I have enough for $300 monthly in childcare and should be ok with food. I consider those things essential. Fancy dinners with pricey drinks, I can do without.
suppose someone looses their job? or gets sick and cant work for a bit or ever. then there are the real evils that kabash a life,divorce or death. can you afford life insurance?
these are all the things you have to consider when just squeaking by before you bring another life into the picture.
Stay home with the baby (at least until she's in school), and try to find a way to do a little of the kind of work you do at home (which seems feasible to me). Rent a place you can afford without worrying about where the money will come from. Nurture a family that makes you thankful for your riches, even when you don't have any money. Use your education to make sure your children grow up with a respect for knowledge and wisdom.
You'll never regret it, and neither will your family. You'll never feel embarrassed again.
Stay home with the baby (at least until she's in school), and try to find a way to do a little of the kind of work you do at home (which seems feasible to me). Rent a place you can afford without worrying about where the money will come from. Nurture a family that makes you thankful for your riches, even when you don't have any money. Use your education to make sure your children grow up with a respect for knowledge and wisdom.
You'll never regret it, and neither will your family. You'll never feel embarrassed again.
Can't stay home. I am the breadwinner. But we may hold off on buying for awhile. That has been debated for some time. House or baby. We're choosing baby.
If our parents waited until they could have afforded us....not one of us would be here today.
There's a difference between money being a bit tight and a couple who has NO savings (not $1) bringing a child into the world and fully expecting both parents to work to afford basics. What happens if Miss Crabcakes is put on high risk bedrest at 26 weeks and loses 14 weeks of income (the higher of their 2 incomes)? That alone could land them $10k in debt before baby even gets here, not counting the insurance deductible they'll have to pay if an extended hospital stay is involved. This scenario is not out of question for a 34 year old mother. I have about 5 friends just this year who did not work up to the date they expected due to bedrest. Some of them had jobs/ insurance that paid their full salary during that time; others were not so lucky.
This is a recipe for disaster...or living on the US government's dole. Please don't have a baby until you have at least 3 months expenses saved up. Please.
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I hope that made you feel better.
