Did having a second kid put too much financial pressure on you?

Basically how do you do it? It's VERY hard "making it" with just the one. Between the mortgage and daycare our funds are just about depleted. That's without the monthly and daily bills.

I only have DS now but think about how impossible it would be having another.

The idea of "you always find a way" worked with the first but won't be enough with a second.

Advice? Experience? Comments?

Message edited 3/11/2007 8:46:02 PM.

Re: Did having a second kid put too much financial pressure on you?

With our first, DW became a SAHM. Having a 2nd at home with her didn't add to the childcare costs, luckily. DD is wearing and using a lot of hand-me-downs at this point (car seat, highchair, swing, etc.) A lot of onsies are from her big brother. We don't know how we would make it though if we had to put two kids in daycare. We're already dreading when DD has to go to pre-school. DS is in it now twice a week. We just put priorities on everything. Minimize going out to eat, no movie theaters, cheap vacations, etc.

Re: Did having a second kid put too much financial pressure on you?

Re: Did having a second kid put too much financial pressure on you?

Having 2 is going to raise our daycare cost quite a bit. For us in the 2 years since our son was born both of our salaries have jumped a bit. That will easily cover the daycare part and we can still save. Don't get me wrong I can't wait for the day when my kids go to school. Even private school will be cheaper than daycare!!

I have to say you need to plan for #2 a little more than the first since you already made a ton of cuts to afford the 1st.

Re: Did having a second kid put too much financial pressure on you?

We waited 5 years before having our 2nd because we could not afford 2 in daycare.

Re: Did having a second kid put too much financial pressure on you?

I have said this in a couple of post but I really think that you need to make a certain salary for day to be worth it. Meaning after daycare and all other expenses what is actually left of your check. For me it didnt pay. Maybe if you look all that stuff over you could stay at home. It does take an adjustment until you see how you do but we really didnt feel it to much. Like another poster said, the big ticket items I already have minus the double the stroller. We rarely go out to eat and we you dont buy things you dont need and I didnt even realize I was cutting back with some of that stuff. We are pg with our second and my first is only 11 months and it came as quiet a surprise but I can't dwell on what the future will bring becuase what I think might be worse then what it will actually be.

Re: Did having a second kid put too much financial pressure on you?

It wasn't too much in terms of finances.

For us the big expense was daycare.

My son moved into the toddler program so it was less money for him & I was paying what I paid beforehand for infant care.

We did decide if we ever decided to have a third, I would probably need to quit my job.

Re: Did having a second kid put too much financial pressure on you?

Re: Did having a second kid put too much financial pressure on you?

Re: Did having a second kid put too much financial pressure on you?

All in all it wasn't that bad b/c we were still used to the cutbacks we'd made for #1. We were able to use some of my daughter's clothes again for my son. And I've posted before that we have no problem putting a pink bib on him in the house if it's still in good condition. I don't use pink things on him in public.

It became more challenging when #2 went on Alimentum since that's more expensive than Similac Advance. But that didn't work for him healthwise so we went onto a prescription formula that's covered by insurance so it's much easier.

Message edited 3/12/2007 9:18:51 PM.

Re: Did having a second kid put too much financial pressure on you?

It all depends. Daycare for 2 is double. That can hurt bit for most families.
Molly is out of diapers so I don't have 2 in diapers.
Molly needed new shoes- her foot grew. That is $100 over the weekend. Your co-pays to the doctor double. The "big" stuff for the most part I already have except for the after-infant car seat and my double shopping cart cover.
If things are tight then I would personally hold off until the 1st does not have so many years left in daycare. That might really help. But again, this is a very personal decision and has a lot of emotion involved.