Financial "situation" and TCC

What was your financial situation like when you started TTC. Meaning did you have debt (a lot, or a little)... where you managing it well. Were you comfortable financially?

If you had debt to sort out (credit cards, car loans, school loans, etc.) did that keep you from TTC sooner than you would have liked?

We have some financially messiness, but we manage it just fine. We figure if we wait until we're ready (financially or otherwise) we'll never have a baby.

I guess I'm just looking to see what other people's situations are considering it is quite expensive to have a baby.

TIA.

Re: Financial "situation" and TCC

We had no choice on waiting we had both wanted to own a house and be debt free but couldn't because DH was deploying and since neither of us really has family we wanted me left all alone in the case of his death we made a decision. It's worked out well. We spent months paying off our bills and by the time my DS came we had paid off alot of our debt. Good Luck

Re: Financial "situation" and TCC

I have school loans, we both have car loans, and we have a small amount of credit card debt. I really could pay off the cc debt, but it's not a large amount of interest and I'd rather the money in the bank for my maternity leave since none of it will be paid. We manage just fine and I'm still able to put a nice chunk in savings each month.

We did hold off for a while because of financial reasons, but the truth is exactly what you said - if everyone waited until they were financially "ready", most people wouldn't have kids. There's probably always a reason to hold off. But if your emotionally ready and can handle the expenses of having a kid, then there's no better time to TTC. You never know how long it may take to get PG. My BIL and SIL have been trying for 2 years. If you're both ready, go for it. Everything else will work out.

Re: Financial "situation" and TCC

My mother always told us that you're never financially ready to have a child. DH and I are managing- we have 2 car loans, student loans and CC debt, but we are slowly paying it off. Our thoughts are that we may never be ready and we don't want to wait. We have a supportive family, so if at any time we need their help, we know that they'll be there for us.

Re: Financial "situation" and TCC

Re: Financial "situation" and TCC

We have some debt mostly in credit cards due to us both being unemployed for a while but we are going to use the money from our wedding to pay it mostly off. We still live in a one bedroom apartment and it's going to stay that way probably for a year. This is not stopping us from TTC. We both are ready for a baby and will do everything in a power to make sure our baby is healthy and happy.

Re: Financial "situation" and TCC

We decided to start trying when we did because we had fulfilled all our financial obligations. I would have liked to start trying maybe last year but we had may too much debt to pay off first. In May was when we paid off the last thing.
Now we are renovating an apartment and trying

Point is, unless youre rich, I dont think there is ever going to a "financially perfect" time. If you have debt though you may want to think about clearing some of that first especially if youre going to be a SAHM which I plan on being.

Re: Financial "situation" and TCC

I told DH that we had to have a house first so we had somewhere to put the baby. THat was my only criteria. I guess if I was living in an apartment check to check, maybe now wouldn't be the best time. But we're managing our finances pretty well.

You make it work I guess. You don't need all fancy stuff and you learn to do without.

Re: Financial "situation" and TCC

We made sure we had a home we could be in for 10+ years and both finished our schooling (law school & biz school).
We then made sure finances were in order from buying home and school.

We figured if we couldn't take care of those things when it was just the two of us then we'd probably never take care of it all.

I feel ok now, not 100% but good considering the economy

Re: Financial "situation" and TCC

Re: Financial "situation" and TCC

We felt the same way if we waited we would never feel ready. We just got married in January, and DH just started a new job in June. We are moving at the end of the month for his job, and I had to resign. So currently we only have one income. I have some cc debit I have been paying down, still a ways to go.
We look it this way we could take big fancy vacations, drive nicer cars, have a bigger place to live, etc... However, none of that matters to use like having a baby. We rather take weekend trip, drive sensible cars, have less space but have a family. I agree that no one ever feels ready. Good luck & !!!!

*plus we figure since this will be the first grandbaby, and I am an only child we will score some serious loot from our parents/family lol. I know that is awful but it is true.

Re: Financial "situation" and TCC

We have a mortgage, 2 car loans, very slight credit card debt (under 2K) and a school loan. But we are comfortable. We put money into savings each month. We realized that we will never be in a perfect financial situation, but we know that we can cut back on some of the miscellaneous expenses we have now. We can clip coupons (we did that to have some extra money when we first bought the house - you would be amazed how much you can save by using coupons!). We were both raised in worse financial situations than what we have ourselves. If we raise our child in a home rich in love, then we feel will grow up rich.

Re: Financial "situation" and TCC

With #1 we were pretty set. Apartment so affordable housing. Still paying my student loan and no credit card debt.

With this one, we are in our house a year, so more expensive housing, still have a student loan, but dropped a car payment. We are paying off alot of the stuff we bought for the house, but that will be done by the time the baby comes. Some credit card debt, but not at all out of control.

ETA Day care bill since #1.

Message edited 8/18/2009 9:21:37 PM.

Re: Financial "situation" and TCC

I'll be in debt forever it seems...im not waiting because ill never be financially stable enough...everything always works it way out

Re: Financial "situation" and TCC

my dh wanted to wait until we were completely debt free to ttc but honestly with our law school debt that isn't going to happen for awhile...we also bought a home in 2007 and my car just died this past may (car was over 10 years old) so we just added a car note to the mix....

we just do the best we can and try to curb misc spending....we have a set amount that we save every month, when we bought the car we would not let the monthly payment exceed a certain amount that we know we are comfortable with, same with our mortg....

unless we hit lotto we will never feel like we have enough money but i know we will manage....i grew up with FAR less then what my dh and i have now so i know we will manage.

it will all work out in the end.

Re: Financial "situation" and TCC

We are fine..although our coop is on the market (1 bedroom) ...it's not stoppin us from trying. Whatever happens happens...the only loan we have is a car loan. Overall we have enough for a house ...but the only thing holding us back is selling this coop...which is taking longer than i expected!!!

Re: Financial "situation" and TCC