Babies Are ‘Not That Expensive’ – Dave Ramsey Thinks It’s ‘Absolutely’ Wrong to Think You Need to Be Wealthy Before Having Kids

The media has exaggerated the cost of raising children and money worries are not a good reason to delay having a baby, according to personal finance expert Dave Ramsey.

Responding to the caller on “The Ramsey Show” who asked whether she and her husband should wait until they are financially stable before having a baby, he said children are not as expensive as people think and that building wealth first is not necessary.

“They’re not that expensive,” Ramsey said. “The first couple of years, you buy some formula and diapers and you have to pay the pediatrician’s Porsche payment. But after that, they start eating your food and stuff. This idea that you have to somehow be wealthy to raise children is absolutely asinine.”

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Ramsey’s Advice on Marriage and Having Kids

Ramsey said wealth is not tied to raising good children and pointed to poor families who raise “functional” kids that learn to work and contribute at home. He said a husband and wife should act as a team and pursue long-term financial goals together instead of viewing children as a setback to paying off debt or building wealth. 

He said the same applies to marriage — people should get married when they’re ready, not wait until they’ve built wealth.

“You’re ready to get married, get married,” Ramsey said. “As long as you’re both on the same team and you’re in agreement about what we’re going to do with money, it’s time to get married. Okay? We’re going to get out of debt. You don’t have to get out of debt before you get married.”