canadiandebtgirl

To baby or not to baby…

In Uncategorized on August 4, 2009 at 1:49 pm

A lot of people have been asking us – when are you guys having kids? I’m not surprised by the question because we are in a position in our lives where that is the next logical step – starting a family.

However, my debt repayment plan is pretty strict to my current income and having a child would throw a big wrench into these plans. I’ve never put ‘Baby’ into a budget line. How much do you even add for said ‘baby’?

A recent blog post on My Negative Net Worth alludes to the dilemma in the PF (personal finance) world. There are two worlds of thought on the topic: a) put your debt repayment plan in place but don’t stop your life because you are in debt or b) get your finances in order prior to making babies.

I’m more of the first mindset – you need to live your life! Sure, debt is a big burden to carry and it should be dealt with as quickly as possible, but no matter how much debt you have, you still get older with each passing day.

I’m curious to know other people’s thoughts on my situation and considering a child in our lives:

* should that debt get down to a lower number first?
* should we give it a go now before we are into the age where fertility treatments may come into consideration?

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