Can you raise a child w/modest salary?

Thank you all for the input!!

Re: Can you raise a child w/modest salary?

YOU ABSOLUTELY CAN!!! Do kids cost a lot of $$$$? Yes. However, I see it as this...the more money you have, the more you spend. You learn all the "tricks of the trade" on how to get things cheaper or things they can do without. Does a child really need those fancy strollers a lot of people are buying for $600+? No. If you have the money, you may say yes. If you don't, you can always buy second hand, get one from a friend who no longer needs it, or find a cheaper alternative. And that goes with everything. As far as daycare, yes...it's expensive, but you can always try to get family to help if not every day...at least 1 or 2 days, lowering the cost. Make your own baby food instead of buying already made. Diapers at COSTCO or BJ's and coupons. If you really want to have a child, even if you don't have tons of $ you can absolutely raise happy children!!! Especially in New York where you have all the alternatives I mentioned!

Re: Can you raise a child w/modest salary?

Ty Mig! I tend to agree with your answer. I grew up in a very modest family but wanted some input from peers! Thanks!

Can you raise a child w/modest salary?

I always tell my friends if you want kids you find a way to make it work. If you don't need to pay for daycare then have kids now because that option might not be there in a few years. My MIL is babysitting for us now but I'm sure she will retire in a year or two.

Re: Can you raise a child w/modest salary?

Re: Can you raise a child w/modest salary?

Can you raise a child w/modest salary?

Hasn't been as costly YET than I had imagined... Yes, diapers and formula aren't cheap but there's always ways to save in those departments... I think it all comes down to places where you can scrimp and save... You can always cut back on something somewhere... You have to sacrifice a lot for a child in so many different ways... But it's not bad... Don't let others scare you!

Re: Can you raise a child w/modest salary?

Re: Can you raise a child w/modest salary?

Daycare is the biggest outlay of $$. Then summer camp when they get older.

Even if you have family watch your child(ren), what happens if one day they can't?

Also, having health insurance is great. But look into your deductibles, co-insurance, and out-of-pocket maximum expenses. We have good health insurance, but we still had to pay a few thousand $$ out of pocket due to the above costs.

I know families who make very little and they are making it work. And I also know families who make a LOT and are struggling.

If you live within your means, then you definitely raise a child pretty easily.

Re: Can you raise a child w/modest salary?

Re: Can you raise a child w/modest salary?

Thanks everyone! I don't really want to reveal anything about my career, daycare, insurance, etc b/c I'm in "hiding" and don't want to give away any clues. They're all under control, though At least unless a tragedy hits, and that's not something any of us can plan for anyway!!

But I really appreciate all of your input. It made me a little less scared

Re: Can you raise a child w/modest salary?

I think it's totally possible since so many of us do it. I think the main expense that hurts is child care, but that is temporary. Other than that, everything else is truly doable. You don't need everything that the LIF community sometimes makes you feel you need. You don't need every baby contraption, big parties at $$ places, ect. You would be surprised how much you can get buy with just a little restraint. It's nice to have the extras I admit.

I think it probably gets tight as children get older with activities, clothing ect. I had no idea that parents ever paid for college until I was halfway done with college so I never found that expense a necessity as a parent if we just don't have the $. They can work and take out loans the way I did.

Live within your means. If that means continuing to rent, buying a small home, used cars, shopping clearance racks, coupons, free activities then you are just like many of us who do just fine. So go !!!

Re: Can you raise a child w/modest salary?

I see no change in our finances EXCEPT child care which is a HUGE expense. If you do not need to pay for child care then you're in an INCREDIBLE position and I am very happy for you/envious of you.

Re: Can you raise a child w/modest salary?

Re: Can you raise a child w/modest salary?

Absolutely, yes.

I became a SAHM when DD was 8 months because I was laid off from my job and decided that I would stay home. The first year, our biggest expense was formula/diapers. I didn't really feel the difference, because when I went to Target instead of buying the DVD that I would buy, I bought diapers. It was really no big deal. At 2, she is involved in Swimming, Music Together and will be doing dance in the Fall. That is where the big money is right now. We are going to Lancaster this month for our first family vacation.

If I told you what DH made and what we are living on, your jaw would hit the floor.

We need a bigger house, DH is going to need a new car soon, we don't have 0 balances on our credit card EVERY month, but we make due and we are happy! We are even planning on number 2 soon!

I always tell myself, people have done more with less

Re: Can you raise a child w/modest salary?

Like others daycare is a B itch. If you can plan for this, you're golden. I also breastfed and used cloth diapers - two other expenses that can add up. But like others said daycare is temporary. In the scheme of life it won't impact you much.

Re: Can you raise a child w/modest salary?

ABSOLUTELY! Without the costs of daycare I don't think kids become expensive until the preschool years (at least for us) and, then, it's pretty much in your control how expensive they get (what school they go to, what activities you sign them up for, what clothes etc. you buy, what trips you take etc. etc.).

Re: Can you raise a child w/modest salary?

formula and diapers really didn't make a difference for us. However we are fortunate enough for now to not have to pay for daycare. I don't know that we could do it if we had to pay for daycare.