<prompt> Human: My wife just began her grad school and is proposing that we start trying for a baby now, so that we can have and raise the baby while shes doing her masters and probably her PhD. She got a fully funded scholarship but doesnt really have much stipend or income per se. We dont have grandparents nearby who can babysit for us either.Here is a brief of my financial status: My age: 28 Income: 60K Our monthly savings: 500 in 401K, 450 in IRA. My retirement portfolio has lost 4.11 in one year: Debt: 5K student loans left to pay average interest at 4.9 Other savings or investments: 11K in checking account After taxes and 401k I bring in 3.5K take-home pay per month. Our monthly expense is 2,660: Rent 700, phone costs 160, loan interest 250, food 500, utilities 250, car loan 200, clothing 200, entertainment etc 150, gas 100, car insurance and personal expenses 150. After the 450 IRA contribution, we are left with 3.5K - 2,660 - 450 390 extra per month.I am skeptical, but before vetoing the idea, Im doing napkin calculations to see if we can make it. Heres a breakdown of additional cost Ive found online so far: Crib 400 Car seat 100 Formula 150month Full-time day care 1200month Diapers 100month Solid foodsnacks 50month Clothes 40month Health insurance ??monthBased on this list, we have to find an extra 1.5Kmo for a baby, and we only have 390mo right now. Even if I stop contributing to the IRA, looks like we wont be able to afford one now unless we can increase our income somehow.If anyone can provide insight or maybe lay out a potential plan that I can follow, Itd really appreciative. Assistant: You can never afford a baby. A baby is an interesting cost because youll find that youll spend every last penny you let yourself spend on the baby. You can spend 100 on a crib, or 5000, its all up to you. So in essence, you can never afford a baby, if you want one, jump in though. No parent is ever 100 prepared, but start saving and see how it goes.Human: I see what you mean. The calculations are to see what the landscape is for. I want to get a feel for what the averages are. Without knowing any information, as others said, daycare will kill us.  <response>: Daycare will kill you. Thats the only expense that needs to be solved, the rest are extremely variable costs. Do you have family members nearby? 