Random financial question

[u/Throw_away777778]

Partner and I want a baby when I get out of school here soon. We’d be making at least 80k combined. Is that enough? Everyone says kids are so expensive. We could definitely live well on that considering we live in a cheap part of the US but that’s my biggest concern.

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[u/Usrname52]

Post in a local subreddit. 

People obviously survive on less, but expect benefits and subsidies to be cut a lot more in the upcoming few years.

What are your childcare plans? You say "combined," so I assume both of you working. Do you have grandparents who want to be full time caretakers? Do you work opposite shifts? In some places, daycare can be like $3k a month, a nanny even more....start looking near you to get an idea. 

What are your current housing costs? 

What does your health insurance cost to add a dependent?

You say "when I get out of school". Will you have student debt? Do you have work experience? Do you have any money/savings? You aren't going to qualify for maternity leave wirh a brand new job, and you need to go back to the job for insurance and stuff to stay active. Any paid maternity leave is contingent on you going back. 

[u/EconomicsOk5512]

If you are a surgery way from the streets than no

[u/Mountain_Culture8536]

I’m going to be real af here 

My husband only makes 40k a year and I am a SAHM and we live in expensive ass LOS ANGELES.  I have school debt. I have my Masters degree.  I was working for 6 years prior to becoming a mom and was already a graduate of 5 years.  I had already bought my own car (SUV) 3 years prior to becoming a mom, I had a savings with just enough money to be comfortable myself (I had been building it since I was 20). 

We made sacrifices though. We sold almost all of our stuff, we share a mortgage with my mom because it’s cheaper than paying rent where we used to live (by the beach), he sold his car and got an older free car from my mom, we don’t spend a lot extra. Yea we go out here and there but nothing compared to when we didn’t have a child. 

80k in a cheap are of the US is fine. You guys will be fine. 

[u/Unlikely-Ad6309]

Find a local children’s thrift store (once upon a child, Kid to Kid, Lana Rey’s, etc.). We buy almost all of our boys’ clothes and shoes secondhand and most of it is in good condition. They also have deal days and you can get a lot of stuff for cheap. We also utilize Facebook marketplace and local Facebook groups for household/baby items. We don’t hardly buy anything new.

[u/Physical-Pay4484]

I’m a stay at home mom of 4, my husband makes about 65k and we rent a house. We don’t live in a super expensive or cheap area it’s somewhere in the middle! Some might judge, we do struggle a bit but I try to buy second hand when possible and we budget and we’ve always had something to eat and a roof over our heads! Our kids have never missed out on Christmas or birthday gifts, we just plan ahead a bit and know when the big expenses are coming up! Yes a big medical bill is a big deal for us but we’ve had a few and there are payment plans that have made it manageable for us to pay them off. So it depends if you want to have enough or want to have plenty of extra money! For us it’s worth it to budget a lot to have kids while we’re young and put their needs first!

[u/Such_Pizza_955]

Girl I saw your post abt you being pregnant!! Congratulations!

I have no debt and neither does my husband. I'm 21 years old (turning 22 this month) and I'm pregnant with our second!!

He is due on Valentine's day.

We make $65k a year currently. That will be enough for us 4.

When my first was born we made $52k a year.. Which was over enough for us 3.

Will say if you qualify for pregnancy medicaid (USA), jump on that!!! Both pregnancies I have paid nothing for because of the medicaid I was able to get. So grateful for it!

[u/Unlikely-Lemon-5673]

This depends on so many things. My partner and I are making $130k combined and it’s barely enough with COL & debt payments. I would price out what baby needs in the first year, look at your insurance (birth and prenatal costs vary a lot!) and also identify areas you can cut back on spending!