Having a Baby- Is it Cheaper When You’re Younger, or Older?

Mr. Money and I have babies on the brain.  Despite the obstacles we’ve occurred, we’re determined that we will be parents in one way or another.  One of the reasons we waited to try to have a baby was because we wanted to wait until we were financially secure.  I understand now that you’ll probably never truly be ready to have kids, but we wanted to be as prepared as we could be.  We really wanted to make sure that we were student loan free.  That was something that we didn’t want to negotiate on.

Now we’re student loan free and working on trying to have a baby.  It’s so exciting, and it finally feels like the time is right.  I can’t help but wonder if maybe we’ve waited too long now, though.  I’m 26 (I know, young!) but Mr. Money is 33.  What if it takes years to get pregnant?  Yikes.  I do think there are many benefits to waiting to have children, but I also think there are some drawbacks.

Pros to having a baby when you’re older

-You have time on your side to pay off debt

-You’ve gained some career experience

-You have time to save money for an emergency fund or for the baby

Pros to having a baby when you’re younger

-Things cost less than they would in 10 years, making it cheaper to have a baby

-You have more energy to play with the child and raise it

-If you do have trouble getting pregnant, time is on your side

Basically I think that we’ve got time on our side, and hopefully things will work out and I’ll be knocked up before you know it. 😉

Do you think it makes better financial sense to have a baby when you’re younger, or older?


Putting Money First

I’ve been going back and forth on a decision regarding my job for a few months now. It’s no secret I’m not loving it, and I feel like a sell out for sticking with it. I use the economy as an excuse, and I don’t know if that’s right. I just need to make a decision and be happy with it.

Here’s the truth: I’ve been considering going part time and stepping down from my position.  It would (hopefully) be less stress, and I’d have more time to do the things I love.  I recently picked up a copy of Your Money or Your Life, which has been recommended to me many times. I’m hoping that will help me make a decision.

Here are the pros to going part time:
-Less stress
-Change of scenery
-More time to do things I love

Here are some of the cons to going part time:
-Pay cut (maybe $6? an hour)
-A lot less money that we could be saving

Ultimately, when I do have a baby, I’d like to stay at home for at least a year. To do that, we’ll have to have some savings to live off of. We’re saving towards that goal, and I feel like if I went part time that I’d be giving up on that.

I feel like I should work while I am able to, and make money while the opportunity is there. But then I wonder at what cost? If it’s costing me happiness, is it worth it? At what point do I decide that money isn’t everything and decide to choose happiness and freedom over money? I honestly don’t know if I’ll ever be able to do that. That’s why sometimes I feel like I’m putting money first.  I need to make a decision, but it’s such a tough one.

What would you do?  Do you ever feel like you are putting money first above everything else?