From Zero to Five Kids


Hi Scott,

My wife and I — who have had an ongoing struggle with infertility — foster three children. And it has been awesome. However, we have just been given news that has floored us. Last week our doctor called to say we’re pregnant … with twins! Having just picked myself up off the floor, I am trying to figure out how to fast-track our savings to raise five kids. You have helped us wipe out $55,000 worth of debt and save $40,000 for a deposit thus far. We would appreciate any extra advice you can give us now.


Scott's Answer

Hi John,

Now there’s a plot twist I didn’t see coming. I have three children under the age of six, and the most common greeting I get from people is “You look tired”. But you two have gone from a comfy Kia to Toyota Tarago territory in just one phone call!

If we’re looking ‘glass half full’, remember that you’ve already paid off $55,000 in debt and saved up a solid deposit in the bank.
Yet the truth is that one of you will have to take time off work, and, with twins, probably for quite a while.

My advice?

Well, I wouldn’t be rushing to buy a house anytime soon. Instead, the money you’ve saved up should stand as your financial buffer, at least until you’ve worked out the lay of the land. The last thing you need right now is mortgage stress. You’re already going to have sleepless nights — no need to add to them.