News flash: people are SURPRISED AND AMAZED that a childless lesbian might give "don't have another baby now" type advice.
SHOCKED, I tell you.
Quite a few people have been posting on facebook and on the blogs that Suze Orman is way off base in her recent advice to a young couple considering another child. I don't think her advice was crazy in any way because the couple was behind on payments, in debt, didn't make any changes and I presume has no real large savings account tucked away from Mumsie. What's crazy? What's nuts? The whole situation is, and that was never addressed.
It should have been.
They earn a bit over $60,000 and have one child. Gross income per capita, this family earns well over twice what mine does (maybe even three or four times but I haven't bothered to do the calculations, and plus? I don't want to tell you our annual income thank youuu)... so I don't see how it could possibly be true that they do not have an extravagant lifestyle. Were they stupid with debt in the past? Do they live in a mansion? Have regular extortion payments due to "Tiny?" What is going on that they can't make all their payments on time? Something else is up that has not been shared with the TV audience. And that drives me nuts. I'm all for privacy, but if you're going on the air and boo-hooing about not having enough money when you earn over 60 freaking THOUSAND dollars a year and have only ONE child, the people in TV Land deserve an explanation.
Ok, so anyway.
Orman told them, look. Y'all can't make it on the income you have, and you are asking ME, a financial planner, if it's a great okie-dokie idea financially to quit the higher-paying job with all the insurance, decrease your family income by more than half, and then go have another baby? Um, NO. Duh. Next question.
Folks in Christian blogdom just went flipping nuts and decided to focus on Orman's comment that one should estimate $700/month in new expenses for a baby. Crazy high price, that is, I grant you.
"My husband earns $10,000 a year and we manage to feed our 14 children quite well and take vacations on that sum. These people need to plan better!" were the sorts of comments I read. I think the truth is somewhere in the middle. The kid is not going to cost $700 monthly, but these people don't strike me as being the crunchy cloth diapering and grow a garden in your backyard-type folks either. Gimme a break.
I believe babies are a blessing and I also think moms ought to stay home. I also think that some of the "God provides" type comments are stupid. YES, He provides. He is ALREADY providing $60,000 a year to this couple and if they can't make it on that income now, maybe it's not such a good idea to keep spending over that amount AND add to the family at the same time.
Hello, people! It is the spending, not the baby, that is the problem!
My advice would be honestly, go for it. Prepare for what you're going to do budget-wise, though. Be realistic. Maybe work for one more year, sock away mega-savings, chip at that debt and downsize the mansion or whatever is holding you down. Money is just a means to an end. Follow your heart! But use good sense in planning your family budget because even if that baby doesn't cost $700 a month (ha!), he's going to cost something. :)