How Do We Decide if We Are Financially Ready To Have a Baby?

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 3 March 2021

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Chris Hogan, Christy Wright, Anthony ONeal, and Dr. John Delony. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Wednesday, and this is the Ramsey Call of the Day.
0:03.7	Part of the Ramsey Network.
0:06.4	Joining me today is Ramsey Personality, Anthony O'Neill.
0:10.7	Emily is with us in Green Bay, Wisconsin.
0:13.8	Hi, Emily.
0:14.4	Welcome to the show.
0:15.2	How can we help?
0:17.1	Hi.
0:18.0	So my husband and I got married in November, and we have been talking about having a baby, not right this very second, but sometime in the near future.
0:28.7	But all these numbers that you see, everyone says it's so expensive, like hundreds of thousands of dollars.
0:34.9	And I'm a planner.
0:36.0	So I'm just wondering, how do we decide if we are financially prepared for a baby?
0:42.7	You are.
0:43.7	Yeah, I was about to say, if it's $100,000 to have a baby, Emily, I'm never having a baby.
0:48.8	Those numbers are stretched.
0:54.0	And they really mostly come into play if you get into a super large family.
1:00.3	But if you have a couple of children, the vast majority of your electric bill does not change.
1:06.1	Your water bill changes a little, but not that much.
1:09.6	Your food bill will change some, but not that much. The food bill will change some, but not that much.
1:12.7	The first couple of years, you've got some formula in diapers and other things,
1:15.6	mandatory pediatrician bills that come at you and that kind of stuff.
1:20.4	We always joked and said it's mandatory.
	...

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