Newbie! Anyone else WTT because of debt?

[joyjumper]

Hello everyone

I'm 30, hubby of nearly 2 years is 34 and we're currently talking about starting TTC our first sometime next year.
We've spent the last year trying to clear our credit card and loan debt so we're in a good position to have children. We've nearly cleared the CC and are about to start overpaying the loans so we can clear them within 18 months, rather than 5 - 6 years!
We were going to wait until we'd cleared the loans too so all our income was our own so to speak, but are really worried we're leaving it too late to start trying then - I'll be nearly 33 and hubby will be around 36.

We spoke about it last week and talked about not overpaying the loans for the first six months of next year and try and build up 6 months worth of savings instead, then tackle the loans again - just so we've got a bit put aside for possible maternity leave as we currently have no savings. BUT the sensible person in me tells me to wait for another 18 months, clear the loans and then TTC!

Just wondering if anyone else is in a similar position?

Sorry this is a long first post!

X

 

[Little G]

Hello, Welcome to WTT

Myself and DF are waiting until January to TTC, we too are trying to clear
a little bit of debt off and get some money saved up, although we dont have too long to wait, We're planning getting married in 2011 but dont really want to wait until then to TTC. By the time we are ready to try I'll be 33 and he'll be 32.

 

[Mrs. October]

I feel for your situation - I really do. I am also turning 30 this year and hubby just turned 33 in July. He wants us to start TTC later this year. I actually plan on coming off BC next month and probably TTC in November/December. In my ideal world we would hvae had at LEAST 6 months worth of salary saved, purchased our first home, and paid off all my student loan debt and our car loan BEFORE trying to have a baby...however realistically there is no way this would happen for at LEAST another 2-3 years. So being that we do want more than one child, I figured I'd have to let go of some of those idealistic goals and just have our first now. We will still continue to pay down our debts; however I no longer feel that we MUST have everything completely paid off in order to have a child first. I recently got a part-time job so that should help with our savings goals for now and ensure we have money for when I go on maternity leave. Hubby and I have been working on our budget to make sure we are in a better position by the time we do have a baby next year, and while the student loans will still be there we should be able to manage ok.

 

[bunnyg82]

:wave: hello! Welcome to WTT

As well as my weight, another huge reason we've been waiting is cos of our debt. I actually wish I was ready for a family years ago before we got carried away spending on the credit card, but alas, isn't hindsight wonderful!! So anyway, here we are in a mountain of debt, that we have only started to control since December last year. Now that we feel in control we feel ready to start trying (once I lose the weight!!) x

 

[Daisy Delayne]

We're about $40,000 in debt and that's the main reason TTC isn't even an option right now. I just turned 28 and had planned on having babies before I was 30 but that's not going to happen. But hey, hardly anything in life turns out the way you originally planned...

 

[calliebaby]

If I waited until my student loans were paid off, then we would have to wait 10 more years!!! Instead, we are just going to try and go with the flow. My husband is the only income right now, but when school is over and I am working, I will be able to afford my loans and other expenses to help out. I don't think we will ever feel completely financially stable, but we have enough to make it work.

 

[Amygdala]

That's a tough situation to be in. If you were in your early 20s, I'd completely agree and say pay off the debt. But when you're aproaching 30 I think you need to think about what your priorities are in life. A lot of women have perfectly healthy pregnancies in their late 30s. But it's a sad fact, that many women that age have trouble getting pregnant or have problem pregnancies if they do. So I guess the question is what would you regret more: Having brought your kids into a financially less-than-ideal situation or having to admit to yourself in 10 years time that you left it too late and won't ever have biological children. To me that's a no-brainer. As long as I knew I could feed myself and my family (and I'm assuming that's not a problem?) then having a family would always take priority for me personally. I've seen to many people leaving it too late and getting bitter over it.

 

[joyjumper]

Thanks all for your replies, was starting to think we were the only ones in this situation.

We are paying way over the minimum payments etc., and could continue to do so if I became pregnant, but I would have to return to work for financial reasons, and with the extra expense of childcare I just don't know how we'd ever clear the loans early, and we don't want to be in debt for the next 6 years with no savings!

It is a tough one and I so regret ever being talked into a loan/CC (by the bank I'll add!!) when I was young and didn't know better, but it happened and we're now doing our best to get rid of our debts. We've certainly learnt from our mistakes!

bunnyg82 - I also have some weight to lose - I'd like to lose 2.5 stone - but am doing well on that front so far and have lost 9lb in the last couple of weeks just by exercising more and eating well. Am going to continue to fight the lbs as well as the £££'s!

It's really difficult to know what to do for the best, although I am steering towards us waiting another 12 - 18 months and clearing the debts first.

If only I had a crystal ball!

X

 

[queen26]

We are in a similar position only I am 26 and want at least 2 (possibly 3) children and so we dont wanna wait any longer. in an ideal world we would own a house and have no debt, but that is not going to happen. So we are NTNP at the moment.

I dont wanna start too late cus I wanna leave a little room between children (in case copin is an issue) and DONT want a single child. I know a couple who paid debts, got a mortgage on the dream house and put away over a year of savings and by the time the years had passed by -- they could not concieve. They were in their mid to late 30's. So now they live in a great big house (with garden) loads and savings and debt free ...but no children to love. They are seeking alternative options and I know they will be great parents but what is more important to you??