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4 Bumps

How do you know if you can afford a third child...

SO has a job that is not always steady, and his pay is never the same. What he makes depends on what type of job he does (He works construction). Right now we are pretty much living easily with no real financial problems. We may be a few days late on a utility bill every now and them because SO may get paid a little later then expected, but nothing that tells me we are poor or having money troubles. I want another child, but SO doesn't think we can afford it. I want to sit down with him and look at what money is coming is, what is going out. But I'm not sure how to do it when one week he might make 700-800 and another week he makes well over a grand. Also sometimes he works 7 days a week, sometimes 3 days a week. It all depends on the job and he is doing the work for. I'm not trying to prove him wrong, I really just want to sit down and discuss it and see what our reality is.Oh and his income is our only income. I'm a SAHM.

Answer Question
 
DancingRainbows

Asked by DancingRainbows at 1:04 AM on Oct. 10, 2010 in Money & Work

Level 3 (14 Credits)
Answers (5)
  • when it comes to kids you can find a way i have 5 and a grand baby on the way with an income of only 35000 a year . try daveramsey.com for some budgeting info i listen to him regularly and get inspired to become debt free last year i paid off 20000 in debt . good luck
    ch2727

    Answer by ch2727 at 1:11 AM on Oct. 10, 2010

  • I agree with the above post. Dave Ramsey is great. Fill out your budget and you'll be able to tell.
    kimsardo

    Answer by kimsardo at 2:19 AM on Oct. 10, 2010

  • Being debt free is important , Ive been debt free for years. It feels great not to worry from pay check to pay check. But you should also have a saving account. You should have at least 3 months of your expenditures saved - for the rainy day seniero. 6 months would be idea. that way you are covered in case one of you gets sick and/or looses his job. you have a recovery plan and hopefully wont hurt your house hold to much as everything is paid and enough money in saving to sustain you.
    lacyjones

    Answer by lacyjones at 9:57 AM on Oct. 10, 2010

  • Your first sentence says it all. He has an unsteady job with pay that varies. You need something stable as well as a good handle on your current finances. I think that if you don't owe any debt and one or both of you have a steady job, then go for it.
    _Tam_

    Answer by _Tam_ at 3:40 PM on Oct. 10, 2010

  • You know my Answer is If God wants you to have another baby He will make a way.Whether your debt free or in debt it doesn't matter. Don't believe when the world says to be debt free. If you have 1 child you will NEVER be debt free. I have 5 children and I have been able to cope.
    pumpkindreams

    Answer by pumpkindreams at 7:07 AM on Oct. 12, 2010

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