Just after my 30th birthday (about a year ago, not long after we moved), we found out I have some health problems that may impact (or be impacting?) my fertility. Without health issues, I think we would have waited until our mid-late thirties in order to make sure our finances were REALLY in order… but that’s not really an option at this point. We should start trying soon (esp as it may take a while, or not at all!), but I also can’t seem to pinpoint my comfort level around how much of a cushion I’d want to have saved before we start trying. We both grew up pretty poor, and don’t have a great frame of reference for when one is no longer screwing oneself… we’re paranoid. I know the joke/saying that no one’s ever really ready, and at some point you just have to take the plunge anyway. I’d love to hear how you decided they were financially ready for a kid, especially in circumstances that aren’t perfect.
How would you wise mustachians balance saving vs. not waiting to start trying?
A few more details: We live in Australia, so we have access to great National Healthcare (no additional cost, out of our taxes), great benefits (paid maternity leave, paid vacation time, etc.), have 5 nephews (hand-me-downs!)…. and otherwise are in a good situation for it. Daycare is subsidized on a sliding scale based on income, and we may get additional help from family (though we’re not relying on this).
I think what I’d like to do is have enough savings to cover all our major annual/quarterly/monthly expenses covered plus some extra to cover any other maternity/baby expenses that crop up ($2k?) before we start trying, and then just… keep saving throughout the trying/pregnancy/whatever happens.
switch2richnow 