Check to see if your University has a childcare center on campus, and if it offers a discounted rate for grad students. Most have a sliding scale for graduate students and is becomes a lot more affordable! I'm working full time on my Ph.D and have a 6 year old...so it's possible! Look into taking online classes, and write your literature review early on, don't leave it until the end. Don't burn the midnight oil every night trying to get things done, it will make you more stressed and burnt out.
Have the baby when you are ready. Everything else will work out. I had my son when I was 19, and was told I wouldn't be able to finish my B.S....5 years later and I am now working on my Ph.D. It gets crazy sometimes, but is worth it. Try not to bring work home, or just work after the little one is in bed.
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