Your budget
Before you start turning the spare bedroom into a nursery, you owe it to yourself to calculate whether adding more kids to your family would be sustainable, given your budget. By now you no-doubt know, kids aren’t cheap, and while adding one more doesn’t exactly equate to doubling your expenses (hello, hand-me-downs) it will put extra pressure on your finances.
Not only do you need to think about the added costs of having more kids, you’ll need to think about how your budget will be affected by the prospect of one partner having time off work for parental leave, possibly on reduced or zero income. Taking full stock of your financial situation and working out whether or not you and your partner will be able to stay afloat now may save some serious heartache and headaches down the track.
Before you start turning the spare bedroom into a nursery, you owe it to yourself to calculate whether adding more kids to your family would be sustainable, given your budget. By now you no-doubt know, kids aren’t cheap, and while adding one more doesn’t exactly equate to doubling your expenses (hello, hand-me-downs) it will put extra pressure on your finances.
Not only do you need to think about the added costs of having more kids, you’ll need to think about how your budget will be affected by the prospect of one partner having time off work for parental leave, possibly on reduced or zero income. Taking full stock of your financial situation and working out whether or not you and your partner will be able to stay afloat now may save some serious heartache and headaches down the track.