Did you have a stash of money saved up for the baby?

Question

HONESTLY, did you have baby money saved when your baby was born and if so how much? My husband and I are trying, but to be honest, it's hard when there are things that need to be paid. I don't think this means my baby will go without, though, just because we don't have $10,000 in savings for him.

Answer 1

I had savings when my first was born, and I am glad I did.  There are several expenses at the beginning: crib, bedding, clothes, bottles, etc.  They add up quickly!  But the savings also meant I didn't have to go back to work.  We made it work by living off his income only and saving ALL of mine.  If we couldn't pay for it with his money, we didn't get it.  We lived cheap, but were still happy.  

Your baby won't go without because you don't have $10,000 in the bank.  However if you are struggling now, having a child will make it worse since household spending will increase dramatically.  It's almost worth getting a second job for a year to put all that money into savings so you have something to fall back on.  Not just for the baby, but for retirement or sudden illness or job loss.