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How to afford children?

How do people afford children? I don't make tons of money, but I do fairly well, and I'm always broke! I have 2 children, and I'd love to have another one, but I cannot afford daycare for an infant. I am lost as to how people afford multiple children. What am I doing wrong?

Answer Question

Asked by Anonymous at 7:29 PM on Jun. 1, 2011 in General Parenting

Answers (27)
  • I buy everything (clothes, most toys) used. They don't use them for that long, and they usually get them stained etc when they are using them. It's just a matter of prioritizing what you spend. When daycare got to be too much, I figured it was saving me money to stay home.

    Answer by MedicMommy at 7:32 PM on Jun. 1, 2011

  • Oh, and keep track of what you're spending. You'd probably be surprised what you're spending that you don't NEED to spend

    Answer by MedicMommy at 7:33 PM on Jun. 1, 2011

  • See, this is what gets me...I make too much to stay home, but not enough to work, if that makes sense. Daycare would not wipe out my entire paycheck, but by paying that amount of daycare, I couldn't pay the bills. I buy things used, or clothes are often given to me by friends that have older children. If I do buy new things, I buy inexpensive items. I do not have cable, I do not have a car payment, I do not go out all the time, etc. I take advantage of all the money saving tips I read: i.e., higher interest rate accounts, no interest credit cards, flexible spending accounts, etc, etc. I utilize the library for books and movies. I don't know what else to do to. There HAS to be something I'm missing because people have more than 1 or 2 children, and are able to make it work, I'm just missing something.

    Comment by Anonymous (original poster) at 7:36 PM on Jun. 1, 2011

  • planning, spending productivly, savings and paying off debt and not getting into more debt.. for example instead of making payments on a couch, make payments to a savings account and save up for the couch and then buy it out right.

    Answer by ElsaSalsaaa at 7:39 PM on Jun. 1, 2011

  • I've often wondered the same thing too, but when I look back on it things just seemed to work themselves out. :0) I had two kiddos myself until two years ago when my husband and I were doubly blessed with twins! I really stressed then, because I didn't know how I was going to be able to keep working and couldn't afford not to work for long. Seems to me like we've always managed to have enough and found ways to cut back and buy what was necessary. All I can say is that I'm happy that we decided to have our third...and fourth :0) It has been life changing for me and presented other opportunties I would have never seen.

    Work for yourself....not by yourself! Learn how:

    Answer by tools4mom at 7:41 PM on Jun. 1, 2011

  • That's what I tend to think , tools4mom, is that things always seem to work out somehow, but SO isn't the type to believe that. He needs it planned and needs to KNOW we will have money; which is a good quality : )

    Comment by Anonymous (original poster) at 7:46 PM on Jun. 1, 2011

  • When is the last time you shopped around for car & homeowners insurance? We found out we could save by changing ins. co's after being w/ the same one for over 20 yrs. With property values dropping, look into having your property taxes lowered. Breast feed & have a diaper party - we made out great at ours! Didn't have to buy diapers for a year, wipes for 4 mos & had Little Swimers for 2 summers. Going to the kids' resale shops is a smart way to go- like one of the other moms already said. They are growing so fast, it makes good sense. You can make it happen! GL :)

    Answer by mrsmom110 at 7:50 PM on Jun. 1, 2011

  • We both have great jobs that we got with a college degree. Also we only have one child to give him things like trips, private school tuition, etc. I never used daycare though.

    Answer by Mom2Just1 at 7:52 PM on Jun. 1, 2011

  • Thank you Mom2Just1, but I'm not sure how that helps me determine how I can afford another child.

    Comment by Anonymous (original poster) at 7:55 PM on Jun. 1, 2011

  • Have you looked into ways to up your earnings? Complete a degree, apply for a promotion, etc? I'm a SAHM and we have 5 kids, it can be done!

    Answer by missanc at 7:56 PM on Jun. 1, 2011

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