Curious About Inome With Baby

12 Replies
n - March 11

This is kindof a personal question to be asking other moms, but I figure you can post anonymously if you do not wish to give your name, and no one will know who you are. My husband and I are considering having a baby soon. I am curious as to what other familys incomes are that have kids, and the positives and negatives regarding the expenses a child can be. My husband and I are totoally ready to have a baby, but want to make sure we are financially ready. When you state what you are living on mention if both you and your husband are working, approximately what your combined salary's are per year, and whether you live in a big city up north (where incomes tend to be higher) or in a smaller (more southern) town where the standard of living is a little cheaper. Also, if you have student loans/business loans, etc that you are paying off each month. Basically, how much money do you think you have to have, after all monthly home expenses are paid off, do you have?

 

Me - March 11

I don't mind sharing at all! I live in Canada and both my husband and I work full time with combined salaries of $107,000 per year. We have a mortgage with monthly payments of $1,100 and car payments totalling about $850 per month. We have one loan with monthly payments of $150 per month. We pay all the regular bills, phone, cell, cable, Internet, insurance (life, car and home), education savings plan, groceries etc... We already have one child who is 18 months. We usually have about $500 per week leftover for diapers, formula, gas, entertainment and savings. We honestly did not feel a huge impact when our son came along, likely because our lifestyle changed dramatically. Since we weren't able to go out as much, the money we would have spent on ourselves seemed to just automatically go to our baby. I have a feeling that with baby #2 it will be a different story, but I think we are in a good position financially to have a second child.

 

to n - March 12

My boyfriend is the one with the job, not me. And he makes $8.50/ hour, US dollars. But we're not worried. We're very non-materialistic folks. In addition, I'll be a stay-at-home-mom, b___stfeeding, & co-sleeping. So no child care for at least awhile, no formula, & no crib. All of the clothes we've gotten so far are either hand-me-downs or 25 cent items from the thrift store. We're currently saving on a place by living with his folks (who are always on the road because they're truckers), but that obviously has drawbacks at times. My student loan has been on deferrment for awhile now, but that's for other reasons. We live in the southeast US, which is cheaper than most other places. And, as I mentioned, we don't need much to survive. We feel we'll be great parents, & lots of people have said the same. And incidentally, some people will never feel ready --financially or otherwise-- to have kids. At some point, you just have to go for it. Stuff works itself out. Gotta trust in the serendipity of the universe. Good luck!

 

orie - March 12

Me and my boyfriend are expecting our first baby....hes the one with the job while im the one attending school. He pays the bills,our rent, and he still manages to have some extra money to give to me for things i need. Babys are expensive but things will work out for you and your husband. Most people do not plan on having babys...it just happens. So good luck on you and your husbands decison....things will work out

 

To N - March 12

My husband and I both work with a dual income of about 100,000 a year. We live in Canada. My god i have a million bills, student loans, mortgage, car payment, insurance, etc. We don't have a ton left over and we already have 3 children and are on our 4th. So we know it'll be a strain, but here were are.

 

to n - March 12

we live in Buffalo, NY and my jusband makes about $45,000 per year. I am not working now and probably wont until the baby is at least a year old. Money is tight but we manage. I am going to try and do odd jobs too.

 

Trinity102203 - March 18

Boy--all these people from Canada with 100,000 year incomes. Perhaps I should move up there. I live in a more southeastern state-- and me and my boyfriends combined income is about 50,000 per year. He works out of the house and I work in the house making about 24,380 or so. We have a house from his deceased father so we have no mortage or rent--but we do have house taxes, car taxes, house insurace, water, elec, cable, phone, internet, i have a studen loan, no car payments--those are from his deceased father too, a 2-year-old still in diapers and requring food and clothing and a baby on the way at the end of May (will it ever get here) :) We make it just fine. don't forget gas and groceries too. we will soon be adding formula to the list amongst other things. after all things are paid off---i usually have about 500 dollars a week to spend on extras--it goes fast--especially since i am a fast food eater.

 

karine - March 30

My husbands works and iam a stay at home mom, i babysite kids. we both make 45 000 year. we are renting, wich is 715/month. we have car insurance, house insurance, loan, gas, groceries, diapers for a 2yrs, phone, internet, we have 350$/week left for groceries, savings and going out. we are expecting our third child in may.

 

bbelmore - March 31

My husband and I make a grand total of 47,000 GROSS annually, and (alot less now that I've been on maternity leave )after our monthly bills which total $1700, ($700/rent, $356/car loan, gas, electricity, phone, cabel, internet, and computer payments) we are left with about $785/MONTH for food, gas, diapers, entertainment... everything! That is not very much money, less than $200/week. We haven't had the baby yet, so I'm not sure how we'll do, I was due yesterday.

 

Renee-Marie - March 31

My husband and I live in NJ and bring in about 150K total. We have a mortgage, two cars (payments & insurance on both) and college loans, not to mention all the other stuff (cable, phone bills, internet, Water, Heat, Health Insurance Etc). I've managed to save money by using some hand-me-down maternity clothes, but I've had to buy some on my own because the pants I was given were way too short for my legs (Don't forget, the costs of having a baby begin BEFORE he or she is actually here, and maternity clothing is one area you cannot forget about!!!! ) Just yesterday I spent 200.00 on clothes I can wear in the office because I outgrew the stuff I bought three months ago. :-/ If you have a baby shower, you will get a lot of stuff that way. Everyone loves to buy you things. But once that is over, you'll still need diapers, Dreft (the baby clothing clothes detergent) formula (unless you plan on b___stfeeding) and then the baby food once the baby can transition to that. Other than diapers, I don't think the other stuff is terribly expensive...but you will need money for it. There's always more to it.... I'm in my 29th week of pregnancy now and I still can't imagine all the other expenses. OH! and we will NOT be paying for Child care as my mom will have the honors when I go back to work in the fall. Hope that helps!!!!

 

pbj - March 31

I don't mind posting my sign on. I live in Orlando, Florida, it's not exactly inexpensive to live here, but probably not as expensive as New York or California. I'm a SAHM, my husband makes about $16 per hour. I formula feed so that is an added expense, which we did not plan on since I always thought I would bf, but it didn't work out. I will say that we are lucky because my husband purchased a home before we were married for next to nothing we then in turn sold it several years after we were married and turned a great profit on it, which permitted us to be almost debt free. We do not have student loans, or a mortgage since we purchased a home in the suburbs which is a less expensive area in which we previously lived. Our daughter was not planned, (but we weren't be careful) so I had just completed cosmetology school (that was a waste of money now that I stay home) when I found out I was pregnant. My husband does not make a huge amount of money, but we've decided to sacrifice so I can stay home. He and I go without things we want so we can be sure to provide her with the best possible life we can offer, but we are ok, we're not really suffering in any way. However, we really don't have alot to just play with, but as everyone has told me you can never have enough money where a baby is concerned. As long as you can provide the necessecities and love that's all that a baby needs for now. It's when they get older that it tends to be a bit more expensive. Especially if you have good family and friends to help you out in the beginning...meaning grandparents are usually so excited they want to buy all kinds of stuff. Good luck to you and having a child is the most amazing feeling ever...it's scary, but wonderful.

 

Jilloh - March 31

you will never be financially ready for kids. hubby and i make just about 40,000 per year

 

Tess - April 1

Both my husband and I work FT prior to becoming pregnant..I lost my job when I was 27 wks along (sucks) Our combined salaries are $60,000 per year. We pay $1600 for our mortgage, car payments and car insurance w/ a total of $450 per month. We also pay all the regular bills, phone, cell, utilities (gas&electricity), groceries, life insurance, internet, credit cards etc..This is our 1st baby so once we found out that were expecting...we've been saving $200 every paycheck for the both of us to our baby :D We've been married for almost 4 yrs now (this May) and I do think we are financially stable to have a child.

 

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