I don't think many people are ever financially ready for a child. But there is such a thing as being financially set and not. I know personally, that I wouldn't want to bring a child into the world knowing that I will need to rely on public assistance or such. Unforseen things happen, but planning on using the system isn't right for me. (I'm not saying that is your intention)

Bottom line, you have to do what is best for you.