There's an old saying that all a baby needs is love, and while that's a beautiful thought, we all know that a baby needs food, a home, diapers and plenty of other necessities, too.

Be realistic when looking at your financial situation. You might be able to afford another baby, but what sacrifices will you have to make in your budget and are you willing to make them?

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Health

Pregnancy, childbirth and the postpartum stage take a lot out of a woman. You're looking at hormonal swings, morning sickness, and weight gain followed by weeks of sleepless nights. Generally a woman's body needs 6-months to a year to fully recover from childbearing.

If your previous pregnancy was great and you feel strong and healthy right now, you just might be ready to give it another go. But if you had a difficult time with your previous baby, you should give the situation a lot more thought. This is especially true if you had any serious complications with pregnancy and/or delivery. Have a physical and speak with your doctor about your current state of health and how likely it is that you could handle another pregnancy.