Are you financially ready to start a family?

First comes love then comes marriage and then comes baby in a golden carriage. In this day and age life plans rarely follow this stereotypical layout but for some it’s still pretty close. After marriage it’s not too long till people are asking when two will become three or more. The pressure to start your very own family can be stressful but not nearly as intense as financially preparing for a family. Planning before you conceive will ensure that you are able to give your child the best opportunities. The following article lists some simple things to consider.

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Do You Have Debt Under Control?

Are they under control? Seek help from a debt solution specialist will put you in the best possible financial position before the big arrival. The last thing you want to do is have children when you are still swimming waist-deep in debt, all that will achieve is increasing your stress levels. You want your credit and loan debt to be eliminated. Your mortgage is likely to be a debt that you have to pay off for most of your life. So, make sure that you are debt-free by the time you have a kid.

Are You Saving?

You’ll spend, over the course of your child’s life, hundreds of thousands of dollars. The thing that will hurt your pocket is education. It’s the difference between your child being successful or not. I know it’s a little early to be thinking about school but you need to be prepared. You want them to have the best start at life. Will you be wanting your child to attend a private school? If so, what will the costs be? Will you be able to afford that or will you need savings to fall back on? These are the questions you need to be asking now. The earlier you plan the less likely it is that you will have to go into debt just to pay your child’s tuition.


I’m talking about health insurance. There are long and short term costs attached to having children. The immediate costs are of course associated with giving birth. Don’t just consider the hospital bills but also the time off you work you and your partner will most likely need to take off and this may be without pay. This represents a huge opportunity cost that may effectively limit your ability to provide for your new family. So, make sure you are secure with good health insurance before thinking of starting a family.

For many couples, bringing a baby into this world is an economic as well as an emotional decision. So, in short here is what you should like to have accomplished financially before you start thinking about starting your family.

Save up adequate funds:  Well, there is no standard fixed amount that we can say will be adequate. But you should have enough money considering all the long term costs of having a child.

Accomplish a good income and high level in your career:  This would allow us to meet all the living expenses and a continuous saving for family needs.

If you are patient then the whole experience will be less stressful and more enjoyable. Of course, having children is often more of an emotional than a financial decision. Patience truly is a virtue. Take your time, sort your situation out and good luck! Before you know it the stork will be delivering a tiny little bundle of joy to your doorstep.

About the author:
Perl Watson  is a professional writer based in Worthing, UK and loves blogging on various topics of interest including parenting and lifestyle.

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