I have been following this blog since before starting medical school. It's been so great to be able to draw from your experiences, and to know that it is possible to make family and medicine work (even if it's a little rough). I am a second year medical student getting married in June. My fiancé is a wonderfully kind, caring person who is more than supportive of my career goals in every way. I'm trying to figure out the whole first kid during training thing and I'm wondering if any of you have advice on how to make it work financially.
My fiancé (F) and I have been under a lot of financial pressure since I went back to medical school, largely due to the loss of my income and the fact that I am currently in repayment for several private loans from undergrad (I could be the poster child for the student loan bubble, and no, they won't let me defer… even though I'm in school). The thought of having a kid in medical school didn't even occur to me because we can barely afford our dog's vet bills, much less a baby. Well, lucky us, F got a pretty significant raise, and now we are looking at having a pretty livable income, and the first thing that popped into my head was, "Awesome! Now we can try to have a baby during M4!"
My concern is this: We are only just getting to the point where we don't hit 0 in the account every month. F works in fashion production/photography, so while I know he will most likely be able to work from home some of the time, there are days and weeks where his schedule looks worse than an intern's and is probably more unpredictable. This, of course, means we'll need to work out child care. Unfortunately we live in Westchester, just outside NYC, so everything is more expensive: rent, car insurance, food, and (I'm assuming) daycare. We do have family support (his entire family lives near by, including his sister who is a stay at home mom and great with kids) which is great for emergencies, but I feel like we would need to have something in place for the regular day to day.
For those of you that had kids in med-school/residency, how did you budget? I know if I wait until residency, childcare will be a lot easier to pay for because we'll have a second income, but I also like the idea of having a little more time with my first born, and being pregnant during what will probably be a comparatively docile year (especially since I'm thinking I want to do OB GYN). While all of that sounds great, I don't want to get myself into a situation where I'm not able to do what's best for my child because I didn't adequately plan ahead.