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Old 09-20-2008, 07:20 PM   #15 (permalink)
ItWasMe
But You'll Never Prove It.
 
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If you are going to backpack with the kids, make sure they are still light enough to carry if they are not going to walk on their own.

I would say a big thing is having a home big enough, with a payment that won't kill you when you add kid expenses such as childcare, diapers, clothes. Whether you decide to use childcare or to have one breadwinner while the other stays home, figure out what the budget would be and try actually living on that budget for a minimum of 6 months. Pretend that you have the expenses already. What you pretend to be spending on childcare, diapers, etc, put into a savings account. If you are going to try living on one income for a while, bank the other income while you are still earning it. It's a great reality check before actually having the kids, and will give you a little nest egg for emergencies or for "initial essentials" like high chairs, cribs, etc.

We often do this for 3 months before adding expenses like a new vehicle or home improvement loans.
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