Are You Struggling With The Terrible Money Twos? #MoneyWiseMoms


Are You Struggling with The Terrible Money Twos? - sixtimemommy.comFamily Life vs Home Ownership. Are you struggling to have both?

Those that own, have jobs, need to pay for daycare or babysitters and all the other bills on top (groceries, hydro, heat, water, etc) can be difficult. Often times people say to me how they can’t wait to start a family but they need to wait until they can afford it, or the opposite in that they can’t wait to own the home of their dreams with their family. Often times people feel they need to choose one or the other because it seems impossible to do both. As well as working full-time jobs, some also use trading apps uk to top up their income and to have a more secure future, making it possible for them to live the life they truly desire. However, not everyone invests in stocks but there are other ways to make an income stretch further,

I’ve been asked how we do it, how we even afford to feed our kids or get clothes on their backs. How do we afford to live in Toronto with such a large family. It’s something I don’t really understand because I have become accustomed to my life, and how I budget plus get everything running smoothly. The services found on a wealth management company website might provide you with a good starting point for getting your finances in order. But you’d be surprised the amount of people who are floored we do what we do, because they feel they can’t at least not all at the same time.

According to the Terrible Money Twos survey conducted by, which polled 1,700 Canadians find that 55.6% of respondents think their ability to start or grow their family is hugely impacted by real estate and the prices in their area. For millennials that challenge is higher at 72.11%.

There are people of every age who have the dream to be able to start their own family in a house of their very own. But for millennials, being able to achieve this vision can be significantly harder. When it comes to money for the younger generation, they are more than likely to decide to spend it on the newest range of sports cars or the latest beauty products, as they may think that these are the only things that matter in the world. They probably don’t even give a second thought to the millennial money mistakes that they could be making, without even realizing it. And by having this mindset clearly wedged in their mind, being able to raise a family in their own property could be a long way in the future.

For us we chose to start a family before home ownership. I was young when I started my family and I didn’t think I’d be able to have both, and while owning a home is ideal before starting a family it didn’t look like it would be possible for me (due to the no credit I had shared in my previous post) so for us it was a this or that situation for sure.

Starting a family isn’t cheap and when you think of it neither is owning a home, but it doesn’t have to be a deal breaker when it comes to owning a home and having a family. Do you have good credit? Do you long for a family and home ownership? There are many people who have taken that step in their life, and have decided to take out a loan to help develop their home. Using a secured loans calculator could help them to figure out how much they would need for their loan, so they wouldn’t have to struggle with repayments.

We’ve been planning for the last few years for our journey to home ownership. With my now establishing credit, both of us working great jobs with great money coming in it’s looking more and more possible for us to get a Mortgage we can afford. Using millions of Canadians, like myself can find personal finance products such as Mortgage rates. Mortgages rates are easy to compare with the helpful Mortagage Rate Comparison tool and I’ve found wonderful help with the Mortgage Affordability Calculator.


Survey highlights:

  • 54.5% said family costs were more than they anticipated
  • The price of food topped the list of unexpected costs for parents at 26.5%
  • 52.8% of respondents say they cannot start or expand their family in their current home
  • 49.4% of respondents say they have changed their minds about their desired family size due to associated costs
  • 71.4% of millennial respondents say they would need to make significant financial changes before starting a family, lead by increasing savings at 41%

For more information including a wonderful infographic that helps give a much clearer picture please click the image above or go visit

Are you suffering from The Terrible Money Twos? How do you manage?

Disclosure: This post was Sponsored by However all opinions are mine and 100% true.


  1. That’s funny, we were JUST talking about this kind of situation the other day. Right now, we have no kids, and we both work a LOT, because we know there will be a time when we won’t be able to work as much due to a growing family. So we’ll do it while we can, I guess!

  2. Glad we are living in our first home for the past 15 years and did not upgrade to anything more expensive. It is a struggle to have a good family life and own a home.. if money is not managed well.

  3. We have four and its a struggle especially with us all having dietary issues. Food is the highest cost next go clothes. We would love to expand but not with the cost of living being so high. First i wanna check off some things on my list like college degree, career, etc. But by then i probably wouldnt want anymore.

  4. I have been a home owner for a while now and with 2 children it can be a balancing act between working and family time. It’s hard to believe that my oldest finishes high school this year then there will be the added expense of post-secondary education.

  5. wants vs needs. Most people don’t seem to understand this…especially in America. Can’t say for sure for Canada, but your data seems to =point that way:)

  6. We have 3 kids and we just sold our home. We are renting while we are in a residency situation. Kids are expensive but budgets work wonders for stretching money!

  7. We’ve already started our family and I long to be a homeowner. That’s the next big thing in our lives. Living in an apartment just isn’t something I want to continue doing, especially since I want to continue growing our family and we’re quickly running out of space. Right now we’re working on our credit to make sure it’s on point.

  8. It would be really nice to balance both, but if you play your cards right, it will all be okay and manageable. Thanks for sharing your experience, really, seeing one family who can balance it all, makes it more motivating.

  9. I’ve totally wondered how you guys do it. We are barely making ends meet and we only have 3 kids. It’s insane and we do have late bills sometimes. We don’t own a home because yeah, it seems impossible :(

  10. We own our home and it can be stressful when something breaks down and you have to come up with the money for repairs. I would never want to have to rent again. Sticking to a budget can help you save for unexpected repairs.

  11. Money Twos, I’d never thought of it like that before. It seems just about everyone these days, no matter what your income and spending struggles with those in one way or another. If you keep saving, you should have own your dream home soon.

  12. Money is always tight. Not sure how we make it everyday. I’m always worried my card is going to get declined yet we make it.

  13. I owned my home first because it seemed like a smart move financially. We never would have been able to afford a home after we had kids.

  14. Yes to all of the above. I am shocked at how much it costs to feed my growing family. I can’t even imagine what it’s going to be like when they’re teenagers.

  15. It is tough. I remember when we had our kids in the 80s and bought our first house shortly after our first was born. Interest rates were at 14%. OMG It was such a struggle. We wanted kids and didn’t think about all of the rest of it. I think you just have to go with the flow and everything else will work out. Here we are, almost 35 years later, and own our home. It all works out in the end.

  16. We often get asked this question all the time and so does my SIL & BIL that have 14 children with another on the way… They own their home and budget quite well… It’s amazing to see. I used to be really frivolous with money, but now I am a firm believer in budgeting and telling your money where to go!

  17. I love the budget that my husband and I have become accustomed to. It helps us to enjoy our earnings and pay the bills.

  18. We recently bought our first home and at the same time had a baby. I was off work while pregnant so money was tight. We are trying to stay on top of everything but It’s not the same. I used to being able to go shop and eating out a lot but now we have to do more home cooking and budgeting.

  19. Being responsible with the cash is a great gift to your future self. I am thankful that we are in a place where we aren’t choking on debt and can be comfortable enough to enjoy time with the kids!

  20. We started our family first as there was no way we would have been in a position to purchase a home for quite awhile. Our incomes aren’t even close to what they need to be to live in the lap of luxury. We bought a house after lots of budgeting, saving, and paying debt off. Now we do it, but it’s a really strict budget and the family time is focused on quality time that’s cheap…no week long vacations to Hawaii anytime soon! lol

  21. Starting a family is definitely not cheap. We bought our house about 5 years ago and thinking to move to a different area with better schools

  22. If my husband and I would have waited until we could afford to have kids, we would have never had them. :) Somehow it all worked out and now we’re about to face the empty nest. Kids are expensive but worth every penny.

  23. I’m still trying to pay off my college fees and when I get that complete, things will run smoother financially. Thank you for your helpful tips. I’m a home owner but I let my daughters family move in and I’m renting a studio apartment. After back surgery, I needed a smaller space to keep up with. My surgery failed so I’ll always have my back pain.

  24. This all really hits home. My husband and I started a family before owning a home. Some look at it that we did it wrong, but we look at it like we’re good with where we are right now and will wait to purchase a home until we can get a better interest rate and until we really can decide where we want to settle. Money, homeownership and children are all huge decisions and life changes. We make it work with a strict budget and taking it one day at a time.

  25. It can be so hard to make the decision to buy a house! With the cost of kids and a mortgage it can be hard to find balance this is all great advice to consider when deciding.

  26. Well I’m a single lady who bought a home all by myself and so I guess I did things backwards? I just look at it as an investment and I was tired of paying rent. LOL!

  27. Having four kids, I surely know how it feels to be broke. It seems the more you make, the more the money goes out the window. Seems like everyone has their hand out looking for money these days. I wish they offered this service in the U.S.

  28. I’m a homeowner and I would say if you’re really looking into buying a home you must have very good credit in order to get the lowest possible mortgage rate you can get. I paid off all my debts before I decided to get a home and doing that really helped. Now my biggest debt is my mortgage. :)

  29. This sounds like a great place for tools for those looking to start a family or buy their first home. It does take a lot to start a family and purchase a home. The calculator can help and mortgage comparison tools can be very helpful

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