Many parents spend time wrestling with the decision to have another child. You may have thought your family was a “one and done” type, but now you’re unsure. You may have worked hard to achieve balance but worry that another child will upset it.
This decision is ultimately up to you – and your partner, if you have one. Even so, asking for advice and hearing about other people’s experiences can be helpful. Find out if your family is ready to welcome another child with the info below:
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Assess Your Finances
According to Shang Saavedra, a financial adviser, you should spend less than you earn. Having no savings, no emergency savings, and credit card debt is challenging to overcome, Saavedra says, when parents or parents-to-be live paycheck to paycheck.
Your budget must include diapers, formula, and bills related to a new baby’s birth or adoption. Childcare is another issue. You might have two kids in daycare, one in school, and one after after-school. Having another child will increase your costs.
Consider Your Psychological Resources
Couples must agree on everything. Consider your physical, emotional, and financial well-being. A new baby is primarily a source of excitement rather than stress. Having a child shouldn’t be a punishment.
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Try Not To Feel Pressured By Others
Age gaps between children are personal; do only what works for you. There are advantages to larger age gaps. In a Facebook post, Laura Campos shared that 12 years had passed between having her first child and finding “careers and finances aligned.”
They have an eight-year-old and a 20-year-old. The age gap gives them “enough time to recover from teenage years before reliving them!” Other factors to consider are:
- Be honest with yourself
- Know that deciding doesn’t mean you won’t have feelings about your choice