Six. Sons. They definitely impacted every aspects of our lives. I would say financially, we would have made a lot more money, spent a lot less, had more vacations, and would have been free to retire earlier had we remained childless.
We got married young and my husband dropped out of school to drive a truck when I got pregnant. I missed a number of years out of the work force. I went back to school, started law school (at night) with a five year old, a two year old, and a four week old. Paid cash with the money we had saved for a down payment on a house. Had two more during law school. I did well, but upon graduation, had a hard time getting any job due to (at that point) having five small children. (Yes, prospective employers would ask, and would look at me like I had the plague when I responded that I had five children.) I was able to get a job as a clerk, paid hourly, as an independent contractor, by someone who didn't ask if I had kids. Eventually, I was able to get a "real job," but having the children factored into future decisions as far as employment opportunities. (For example, I could have made more money working in NYC, but that meant I would leave in the morning before they were up, and come home after they were sleeping and no money was worth that.) We lived near my parents who helped with childcare so moving into the City was not an option.
Spent money on diapers, nursery schools, tuition for private schools, tutors, sports, food, clothes, cars, car insurance, etc. (At one point I felt as if I owned a fleet of cars.) None of my kids have college debt. (One covered his own, via the USNA.)
Oh, and money plastering holes in walls. Mysteriously, we seemed to get a lot of holes in the walls of our house.
As far as taxes, we would have gotten deductions in the early years. Later we were hit with the Alternative Minimum Tax.
I wouldn't have changed a thing (as far as the kiddos go). I love them.