Minimum HHI to have a baby in this area

[Anonymous]

We earned 60K when DC1 arrived.

[Anonymous]

Wow I can't believe people are comfortable having a baby with so little money. I would be stressed and depressed every day.

[Anonymous]

Anonymous wrote:We had about $90K when we had our first, but we'd bought a house we could afford on that single income because we knew one of us would stay home in the early years, so we didn't have childcare expenses.

This is our plan, DH makes about 10k more and has good promotion coming up to make an additional 10. We want to have a baby before I hit 34 and I want to stay home with our child the first 1-2 years. Our total HHI would be around 110-120k at that point.

How did finances look for you? We have no car payments, no credit card debt, and we are mostly frugal in our spending and going out to eat at places that are ~$50 for the both of us. Once a week.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We had about $90K when we had our first, but we'd bought a house we could afford on that single income because we knew one of us would stay home in the early years, so we didn't have childcare expenses.

This is our plan, DH makes about 10k more and has good promotion coming up to make an additional 10. We want to have a baby before I hit 34 and I want to stay home with our child the first 1-2 years. Our total HHI would be around 110-120k at that point.

How did finances look for you? We have no car payments, no credit card debt, and we are mostly frugal in our spending and going out to eat at places that are ~$50 for the both of us. Once a week.

This pp, I forgot to add that our monthly mortgage is $2100.

[Anonymous]

$175K or so for first. $250K for second. At $300 now, would prefer to be at $350

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We had about $90K when we had our first, but we'd bought a house we could afford on that single income because we knew one of us would stay home in the early years, so we didn't have childcare expenses.

This is our plan, DH makes about 10k more and has good promotion coming up to make an additional 10. We want to have a baby before I hit 34 and I want to stay home with our child the first 1-2 years. Our total HHI would be around 110-120k at that point.

How did finances look for you? We have no car payments, no credit card debt, and we are mostly frugal in our spending and going out to eat at places that are ~$50 for the both of us. Once a week.

This pp, I forgot to add that our monthly mortgage is $2100.

This was us, almost exactly. Finances were totally fine. Preschool was fine, activities were fine. We aren't big spenders on "stuff", but we did have to replace the furnace and were able to build up the E fund after pretty quickly. We still saved for retirement and started a 529. You won't be in the running for largest 401k balance, but we found it to be reasonable. You'll be fine. Good luck!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We had about $90K when we had our first, but we'd bought a house we could afford on that single income because we knew one of us would stay home in the early years, so we didn't have childcare expenses.

This is our plan, DH makes about 10k more and has good promotion coming up to make an additional 10. We want to have a baby before I hit 34 and I want to stay home with our child the first 1-2 years. Our total HHI would be around 110-120k at that point.

How did finances look for you? We have no car payments, no credit card debt, and we are mostly frugal in our spending and going out to eat at places that are ~$50 for the both of us. Once a week.

This pp, I forgot to add that our monthly mortgage is $2100.

We had a 1k mortgage, no car payments, no other debt. Continued retirement savings via DH 401k. We built up a big emergency fund before i quit by living on one salary for a few years before having kids so we could dip into that add needed for home repairs. We're both naturally frugal so I never felt like finances were very tight. We still traveled to CA 1-2 times a year to see family plus occasional travel close to home. The main thing we weren't doing was setting aside college savings. That was a top priority when I went back to work when my youngest started K.

[Anonymous]

We made around $60k when DC1 was born and not much more when we had our second. We lived in a condo in Arlington at the time. Easy commute. We were fine. Managed to save money during that time frame, even with daycare.

[Anonymous]

10 billion dollars

[Anonymous]

Anonymous wrote:10 billion dollars

That's absurd. You know how few people in DC make that much?

[Anonymous]

Is the u come evenly split or is one spouse making more? Hi of $100k is plenty of one spouse is staying home. You'll need to budget at least 2k for daycare a month until kindergarten. So count on that and whatever your mortgage is.

[Anonymous]

Maryland does a study every few years, called the self-sufficiency standard. I believe it was about $65,000 for a single adult with a preschool aged child. Probably more for an infant because day care is expensive.

[Anonymous]

Anonymous wrote:Maryland does a study every few years, called the self-sufficiency standard. I believe it was about $65,000 for a single adult with a preschool aged child. Probably more for an infant because day care is expensive.

That was for Montgomery County.

[Anonymous]

Anonymous wrote:Is the u come evenly split or is one spouse making more? Hi of $100k is plenty of one spouse is staying home. You'll need to budget at least 2k for daycare a month until kindergarten. So count on that and whatever your mortgage is.

If we go with sahm for the first year or two would we still need 2k a month for daycare?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is the u come evenly split or is one spouse making more? Hi of $100k is plenty of one spouse is staying home. You'll need to budget at least 2k for daycare a month until kindergarten. So count on that and whatever your mortgage is.

If we go with sahm for the first year or two would we still need 2k a month for daycare?

to have the interaction and socialization piece for the child ?