My Dh and I had a little girl almost a year ago.  Until then, we had a 2 income household and spent money on whatever we wanted.  When KM came along, we realized that we weren't near where we wanted to be financially.  Since then, I have gone back to work part time and am loving being at home most of the time.  But we were really nervous about loosing part of my income.  There have been a lot of adjustments to be made.  We eat out a lot less and don't go out to the movies hardly at all.  It isn't as hard as I thought since our time is taken up with littler things .  We also have realized that we don't have to have all the things that we thought were necessities.  My advice to all of first time parents is that if you want one of you  to stay home (I'm all for dads staying at home if it works for you)  then just jump.  God is all about families.  He will help you find money at the end of the month instead of having month at the end of your money.  It never seems to amaze me every time I wonder where the money is coming for a bill.  Somewhere, a refund check or a consignment check comes in the mail.  I am not saying that it will work for everybody.  I don't claim to know every situation.  I am just saying that we were able to trim the edges off a little more than we were expecting.  Still, I would like to have more than 1 shiny penny at the end of our month, but I will take what I can get and be thankful.  I hope you too will be able to stay home if that is your desire.  If you do have to have 2 incomes, I want to say that your children will not suffer any more than if you didn't.  I think that all parents, reguardless of their work status, can love their children enough to make them happy, well-adjusted kids.  You just need to do what is best for your family.  In the meantime, enjoy those little ones and have a great day!