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How much money do you think someone should have in the bank?

Before having another baby. How much money do you think you should make month to support two kids?

 
K3lly94

Asked by K3lly94 at 1:55 PM on Oct. 2, 2010 in Money & Work

Level 12 (773 Credits)
This question is closed.
Answers (11)
  • I agree at least 6 months saved in order to pay ALL bills, PLUS steady income past that which does pay all of your bills! Kids are expensive! And you need to be as prepared as possible for those inevitable rainy days!
    LoriKeet

    Answer by LoriKeet at 10:24 PM on Oct. 3, 2010

  • enough to carry them through 6 months of paying all their bills and living the way they are used to living - until they can get another job - this is just short-term - checking account - savings account - you can never have enough - and please as soon as you have a baby, start a college fund for that precious little one!!!
    kaysimon132461

    Answer by kaysimon132461 at 1:58 PM on Oct. 2, 2010

  • Depends on what you absolutely want for your kids. If you want them to have seperate rooms, no hand-me-downs etc, you have to make more than 3000 a month.
    But you can get by with 1200 a month with 2 kids.
    mygirlpaige

    Answer by mygirlpaige at 2:02 PM on Oct. 2, 2010

  • I believe it is different for everyone. It all depends on their lifestyle. Some people can do just fine on very little, and others need a lot of money just to keep up their lifestyle.
    fallnangel93

    Answer by fallnangel93 at 2:40 PM on Oct. 2, 2010

  • For me, t would be ideal to have 3 mos worth of your monthly expenses in the bank.
    RenoMama

    Answer by RenoMama at 2:09 PM on Oct. 2, 2010

  • enough to fully finance 6 months of living without a job, includes all of your bills, emergency money, accident money, groceries and everything. That is the minimum.
    gottalovemal

    Answer by gottalovemal at 2:13 PM on Oct. 2, 2010

  • You should have100% medical coverage for the family. 6 months to a years worth of how much you make per month in a savings account
    louise2

    Answer by louise2 at 2:18 PM on Oct. 2, 2010

  • Enough for six months of unemployment, which means enough to cover six months of rent, insurance, car payments, utilities, etc.
    Misteh

    Answer by Misteh at 2:01 PM on Oct. 2, 2010

  • I agree with kaysimom ...
    tasches

    Answer by tasches at 9:15 PM on Oct. 2, 2010

  • That's a good question. I think it would be wise to have at a minimum 3 months worth of living expenses. But there is a time limit for women to have children and if you're getting close to that time limit, I wouldn't put it off just because you don't have a savings account. Most Americans don't by the way. What is it, 25% of us have a negative net worth... But you don't see 25% living on the streets. So it's not the end of the world if you have a kid and aren't financially ready. It's just not wise.
    Erica_Smerica

    Answer by Erica_Smerica at 11:47 PM on Oct. 2, 2010

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