Learning, Sharing, and Teaching > Mini Money Mustaches

Financial/Personal Goals Prior to Having Children

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LearningMustachian72:
Hey!

I know there is never a right time to start a family and everyones circumstances vary but if you are a parent or expecting to be, what are some financial and personal goals you wanted to achieve prior to becoming a parent? (i.e. what comforts did you want in place prior to growing your family)

Thank you in advance!

MrUpwardlyMobile:
I wanted a 6 month efund, positive net worth, and sufficient income to cash flow all reasonably likely expenses including daycare and medical care in the event of complication.

acroy:
Success Sequence: education, job, marriage, children. In that order

Laura33:
What MrUpwardlyMobile and Acroy said.

Bracken_Joy:
I wanted to pay off my SLs above 5% interest rate and save up a down payment on a house and finish nursing school. We did that, and I'm glad we didn't wait any longer than we have. We're struggling with infertility (in spite of starting trying at 27) and doing our first IVF cycle right now. Thanks to frugality and the options money buys, we have this option, even though it's $17,000 out of pocket for each cycle. (Very very few people have infertility benefits, even diagnostic).

Anywhoo, I advocate for getting your ducks in a row but not waiting too long, because you never know what life will throw at you.

ETA: oh duh, and a stable partnership. For me that meant marriage, but I like tidy paperwork and taxes =)

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