how to save with a baby

tobysnuggles

KatieCutie05 said:

The key is to just make sure you are living on a written budget every month that you follow and keep track of expenses. Because otherwise your basically just guessing where the money is and how much you have. So you need to tell it where to go and know exactly how much you have to work with.

Othere then that I'd take a serious look at every debt you have, every dollar you have in savings and where every dollar is going each month. And then sit down with your husband and decide what to do with that based on your families needs. If I were you I would keep a small amount in savings for emergencies but past that i'd look at getting the student loan paid off so you have less going out each month. Take the money you were putting extra at the mortgage and put that at the Student loan because chances are thats smaller and easier to pay off.

Didn't even think to use the extra on the mortgage to just get rid of the student loan instead- totally doable! My student loan is like $115 a month so it's like a very slow payoff...ramping that up is a great idea!

daisy662

It sounds like you need to determine what your priorities are. Currently you can't afford another baby. You need to decide if you want a baby bad enough to cut back. You are spending above your means. Though your income is decent, it isn't high enough to be buying all the extras that you are. You have a lot of extras you can cut out which would allow you to put a dent in your debt and then begin rebuilding your savings but it doesn't sound like you are willing to change your lifestyle. That's fine, but you aren't going to reach the financial goals you indicated in your OP unless you change your lifestyle. Good luck!