We heard from Jack last week that he is worried that he and his wife aren't ready to start a family, however, his wife is desperate to get pregnant. According to Redbook Magazine....here are the.....
FINANCIAL REALITIES OF A BABY (Redbook)
76% of expectant parents say they feel financially prepared for having a baby -- but 41% of new parents admit that, in hindsight, they were not as financially prepared as they thought.
Nearly half of new parents say they spent more money than necessary on a car seat; 36% overspent on strollers; about 25% went overboard on baby photos, a crib and clothing.
48% of expectant parents think that managing everyday expenses will be their biggest financial worry, but only a third of new parents feel the same way.
36% of expectant parents anticipate that tension in their relationship will increase after their baby's birth. Watch out: Nearly half of new parents found that to be the case.
Expectant parents figure on spending an average of $120 a month on diapers; new parents actually spend half that. What gives? New parents are savvier shoppers: Three-fourths of them shop for baby items at discount retailers, compared with only half of expectant parents.
In the survey, the percentage of couples who split their family's financial management equally dropped from 44 percent before the baby was born to 32 percent after the baby's arrival.
Half of new mothers report that they handle the family money, up from 37 percent prior to the baby's birth.