Signs You're Not Financially Ready to Have Children
Friday, 29 March 2024, 12:30
Signs You're Not Financially Ready to Have Children
Having kids is a huge financial decision. Read on to see if you're ready or not.
1. No emergency savings
If you have no emergency savings, it's best to wait and build some first. Once you have kids, saving money becomes harder.
2. No idea about child care costs
Research child care costs to avoid instant debt and stress. If you can't afford childcare, consider waiting.
3. A lot of debt to work through
Having a load of debt can escalate when you have kids. Consider paying off debt first to avoid a financial cycle trap.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.