Money Matters
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  • Just wanted to say, you've mentioned all the worst-case financial scenarios, but you don't seem to be concerned with the possible repercussions of delaying having kids regarding declining fertility. You mention being "against the clock" but in kind of a vague way. Make sure you're considering what your life would be like if you waited until you had enough money to ensure against every financial possibility, but then you couldn't have kids. Some women enter early menopause in their early to mid 30's. Consider the financial costs of IVF or adoption, and consider the emotional costs of the heartbreak of not being able to have a child. Consider what it would be like to have a child with Down's Syndrome or any of the other birth defects/disabilities that increase with parents' ages. Consider the potential strain on your marriage.

     I feel very strongly that women should not take their fertility for granted if they are with the person they want to have kids with and they KNOW they want children.  Yes be prepared financially, but at the same time, lots of kids are born into families where parents rent and nobody dies from it. 

  • image Telebell:

    I think you could just run the numbers a few different ways for him, like your family is a business considering different options.  Make several hypothetical budgets:

    One income, house, kid

    One income, rent, kid

    Two incomes, house, kid

    Etc, etc.   It's so much easier than trying to talk about it in the abstract.  If a scenario looks tight or not possible, he'll see it for himself.   As for being overly cautious, it doesn't make sense to try to plan for all possible things that could go wrong - it's too much.  Just go with the most likely possibilities, and try to buy insurance for the truly disastrous scenarios.  The only thing I would do for sure is pay off all CC debt before buying a house.  



    Also, you said your husband takes care of the finances. PLEASE do yourself a favor and get involved in this, even just a little bit. I recently got divorced and made the mistake of not knowing anything about our finances. Come to find out, my husband was stashing money from me and I ended up losing a lot. In no way am I saying this will happen to you, but you need to know where your hard-earned money is going. Besides that, it will help you develop a realistic budget together. Good luck!!

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