Baby on the way!!

[disneysteve]

I totally agree with LAL about buying used stuff. Your timing is perfect. Baby is due around April which is usually when yard sales are in full swing. Then there are thrift shops, rummage sales, craigslist, etc. The only thing you should always buy new is a car seat. Pretty much everything else is available secondhand at a big discount.

[Radiance]

and stroller

Are you sure you need a stroller? I never used mine, would you consider a baby carrier?

But collecting on used baby stuff from now is agreat idea, be in the look for specials and thrift stores. Do you have a freecycle in your area, that is a group who exchange things for Free! I recently exchanged unopened baby formula cans. I always see plenty of baby stuff for the taken.

Don't forget about mama, maternity clothing is another item you might want to collect from now, ask family and friends if they have some. Actually, it doesn't have to be maternity clothing, it just need to be a couple size bigger

Will you need a pump?

Only thing I did buy new for me was bras and underware as I "grew". The rest was just bigger clothing from my friends and cousins. I also used my dresses more than my pants. An elastic band can be hooked to pants to use them a little longer.

[elessar78]

Your current plan is to be debt-free in 11 months. Could you get there in 9 months by cutting back in one or more of the following catagories?

Savings: $670
Church: $100
Restaurants/Entertainment:$300
Misc:$468

Of course, you have to consider the current size of your emergency fund, and weigh whether it's better to have the reserve or to improve your cash flow by reducing debts.

Well, we're funneling our savings into paying off debt already. I just categorized it as such, because that's how it's laid out in the budget. So that $670 will go to paying off debt. What we give to our church is already below what I'd like to give, so that one stays.

For restaurants/entertainment and miscellaneous we can cut that dramatically.

Congratulations! How exciting! You must be thrilled.'

What will the Labor and Delivery cost you OOP? Is that what you are saving for? I'm due February and it'll be free to take the baby home. I paid my $10 co-pay and we're in the clear.

I am thrilled and thanks.

I think we should be covered by baby showers for the "major equipment." My saving goal was based on advice that you'd want to have a good sum of money on hand in case there are unforeseen expenses linked with the pregnancy and hospital costs. I do have insurance but we always seem to get bills in addition to our copay for routine dr. visits.

But I think, killing debt and improving our long-term cash flow puts the family in a better position.

[Radiance]

. I do have insurance but we always seem to get bills in addition to our copay for routine dr. visits.

I know it is not for everyone but, would you explore a birthing center? most insurance cover them. My whole expense was $300 including all visits, untrasounds , co pay, delivery, everything because birth centers have an all-inclusive package that they charge the insurance.

Plus, service is awesome at birthing centers.

[Hot dog]

Congratulations! I would totally be living on beans and rice and cutting out all unnecessary expenses like cable, eating out, and getting a cheaper phone plan. I think being able to stay at home would be great and definitely worth the sacrifice. I would also think about getting a second job maybe both of you for a few months to hurry it all along cause you won't regret it in the long run.

[elessar78]

Congratulations! I would totally be living on beans and rice and cutting out all unnecessary expenses like cable, eating out, and getting a cheaper phone plan. I think being able to stay at home would be great and definitely worth the sacrifice. I would also think about getting a second job maybe both of you for a few months to hurry it all along cause you won't regret it in the long run.

Agree. Unfortunately we're already on the lowest phone plan. Cable and internet is free because I work for a cable/internet provider. I'm probably going to be looking at the Frugal threads for ways to cut money here and there. And really hoping to land this contract that I recently bid on, it would mean a lot of work but it would help our cash flow greatly.

[MonkeyMama]

I agree on the second job. Not that it's the easiest time to find a second job, but I would sure hustle. IT doesn't get any easier with a newborn, and whether she plans to stay home or not, being stuck on bed rest or unable to work for a while happens (pregnant or postpartum) often to pregnant women. I would aim to be debt-free ASAP.

[zetta]

One thing you could propose to your wife is that you start living as if you only had your income NOW, and use everything she earns to pay off debt. It will give you an idea of whether it is feasible, and also move you closer to being debt free.

[Radiance]

Just a word of caution, mommy needs good nutrition and reduced stress... so I respecfully disagree with having her get a second job or a less than prime nutritious food. Pregnancy and delivery are mostly working in the mind.
Daddy in the other hand could do that.... ;-)

I actually elliminated any white flours and any refined sugars.... ok, I did have 3 ice creams in the whole pregnancy.

[disneysteve]

Just a word of caution, mommy needs good nutrition and reduced stress... so I respecfully disagree with having her get a second job or a less than prime nutritious food.

I agree. Dad can do rice and beans but mom needs the good stuff.

[MonkeyMama]

One thing you could propose to your wife is that you start living as if you only had your income NOW, and use everything she earns to pay off debt. It will give you an idea of whether it is feasible, and also move you closer to being debt free.

I definitely second that!

& I just wanted to be clear - I don't think pregnant momma should find a second job. I was lucky I didn't lose my first job - I was so sick and run down with my first pregnancy. She needs to put her energy to herself, to the baby, and to keeping her first job, in my opinion. Though every woman is different and if she is open to it, it isn't the worst thing. It would just be extremely low on my own priority list if things got difficult.

I meant Mr. Elessar78 should look for more work.

[TBH]

I totally agree that you should do whatever it takes to get debt free before the baby comes.

The best way to see if you could live on one income is to start now. Look at your income only, and budget accordingly. Throw her entire salary at debt and then at savings.

I am so excited for you! What a fantastic thing a baby is. I can see how you'd be anxious about the finances, but it seems like you have your head on straight and you're in a good position to enter parenthood with no debt.

[shubh]

It is good news that you are expecting. Yes, it is true that financial burden will be more upon you, as your wife wouldn’t be able to spend as much time to her job for some time. There are many companies who are looking for in house professionals. So, apply for such offers, your wife and you both can do that job in spare time.