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Here’s How To Decide If You Should Have Another Child

6 min read


Maybe you thought you were a “one and done” family, but now you’re not so sure. Or perhaps you had planned for more children but worry that a new baby will upset the balance you’ve worked hard to achieve in your life.

Deciding whether to have another child is a tricky calculation, and a choice that many parents spend time wrestling with. Ultimately, you – and your partner, if you have one – are the only ones qualified to make this decision. But that doesn’t mean it isn’t helpful to ask for advice and hear about others’ experiences.

We asked financial advisers and the HuffPost Parents Facebook community to weigh in on how to know if your family is ready to welcome another little one.

Assess your finances

“Financially, I’d like to see that you are spending less than you earn,” financial adviser Shang Saavedra tells HuffPost.

Saavedra worries that “when I see parents or parents-to-be living paycheque to paycheque, you don’t have any savings, you don’t have any emergency savings, you have credit card debt — that stuff is going to be very difficult to overcome.”

In addition to paying bills related to a new baby’s birth or adoption, you will need to add costs like diapers and formula to your budget. Then there’s child care to consider. You’ll have to estimate how much costs will go up depending on when you have another child. For example, you might have two kids in day care, or one in day care and one in school and an after-school programme.



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