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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.
From what OP has shared, your suggestion would have a family of 3 living on $20-25k salary.....which means us taxpayers will be paying for their food stamps, rent vouchers, Medicaid, etc. No thank you. Staying home is - sadly- a luxury in 21st century America.
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.
Um, yes. House will have to wait. You have no savings, right? Did the housing meltdown of the past 2 years not teach anyone about the danger of 0% down mortgages?
Conservative financial advice is for two-income families to buy a home worth 2X annual salary of 1 of the two incomes (in case the second income is lost permanently or temporarily due to layoffs, illness, or disability).
Do you live somewhere that homes sell for $60-70k? (2X your salary) If not, keep on renting my friend. You cannot afford to buy. You can barely afford a baby...I am not convinced you can based on what you have shared about your situation. Yes, babies just need love....but they also need a safe, clean daycare, a safe working stroller and carseat and crib/mattress that are legally compliant with modern safety codes, etc.
If our parents waited until they could have afforded us....not one of us would be here today.
its different then our parents days. we have sooooo many on welfare now because of poor planning and thinking the money will always come from somewhere.
Agree with TurtleCreek80, but I would say with a child you need at least 6 months emergency fund... I would be very nervous about bringing the huge costs of a child with no savings whatsoever! ESPECIALLY in the current environment where jobs are scarce and commodity inflation is projected to rise significantly!!
its different then our parents days. we have sooooo many on welfare now because of poor planning and thinking the money will always come from somewhere.
well they were right, tax payers pockets.
Gone are the days of our parents or grandparents when a degree just about guarateed a good job at a company you'd remain at for 35 years and draw a nice pension upon retirement.
This is happening to a lot of 20 and 30 somethings, so you are not alone. It's the new America and governments and businesses are all about cheap labor. I really for sorry for kids coming up in grade school, their future may be as bleak as that of a Chinese laborer.
I think most of us when we were younger picture ourselves financially comfortable by age 30 and ready for a house and kids. I thought if I went to school, got the degrees, saved up planned smartly, I surely would. Surprise, not there yet.
Its a little of both. But I know I shouldn't compare myself to others buts its so hard not to.
I think most of us when we were younger picture ourselves financially comfortable by age 30 and ready for a house and kids. I thought if I went to school, got the degrees, saved up planned smartly, I surely would. Surprise, not there yet.
If I were you (or the persons you speak of), I'd blame whomever put the idea of going to school, getting the degrees, and getting a job, and saving up as the be-all solution in your head.
You can't take the easy path, and expect to live an easy life.
My answer to this problem would simply be to not have a kid this year. Keep doing what you're doing, just no kids
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