How much money should I save up before having babies?

Question

I'm looking for a better job and so on, but it would be easier if I had a better idea of how much I need to save..

Answer 1

There is no number.  No matter how much money you have, you will always find things to buy.  I would look at it differently.  Get yourself some good health insurance.  Giving birth at a hospital is really expensive.

Answer 2

You'd be saving forever. There is no perfect time to have kids.  As long as you and your husband are financialy stable now, I think you should go for it.

Answer 3

Have enough saved to cover the needs of yourself and the baby for the first year.  This includes medicals expenses, and items for the first year of life, and should include at least some awareness of the price of daycare.  There are many expenses related to raising a child and you are probably not going to be able to predict them all but you should at least be aware of what you are going to up against.

Answer 4

Kids do cost a lot

Diapers, milk, clothes, medicines, cots, prams .. the list goes on

If you don't want to buy new get it off eBay

That is a much cheaper option

Cant put a figure on this it is always going to cost you

Answer 5

That's not an easy queston to answer.  Babies are expensive!  As others have posted there will always be unexpected expenses that arise and it will always seem they happen at a 'bad time'.  First and foremost, you should be working on getting reasonable insurance for you and your baby's needs. Even after baby arrives, if you and your spouse are in a financial position to do so, save a percentage of your earnings for those unexpected times which could help ease the burden.  We start out with clothes, diapers, bottles, formula etc...then move on to school supplies, shoes two to three times a year along with more clothes and the overnight growth spurts!  Then come the teenage years where you can no longer pick their wardrobe and then college is right around the corner.  The sooner you can start saving and continue to save the better!  Babies do not have a price tag and the rewards are greater than you could ever imagine!  Good luck to you and yours!

Answer 6

My dad always said that if you want to be financially stable you'll never have kids.  There will always be something else you want or some other expense that will delay the process.

Answer 7

I do not think there is a way to put a figure on that!  Kids are expensive, and they will ALWAYS want/need something you had not planned for.  I think you are SO smart for thinking about this BEFORE you have kids, but if you have some savings and are finacially stable and in a stable relationship or place in life, you should just do it!!  

Trust me, I try to budget every week and plan on just what I need for each kid, activity, clothes, uniforms, school stuff, and I ALWAYS end up dishing out more because things come up!!

GOOD LUCK!