I could really use some advice.

I am currently studying my masters in maternal health and my studies advisor is encouraging me to apply for an upcoming scholarship for a PhD. She has always been very supportive of me (know her since my undergraduate) and feels I have a good chance due to previous publications and awards.
I have always wanted to pursue a career in lecturing/education/academia and know that this is almost a necessity these days. However, I am torn. I currently pregnant and it was a hard got pregnancy with a lot of heartache on the way. I was looking forward to getting my masters handed in in the next month and enjoying the break from study and full time work to enjoy what we have struggled for years to get. I have spent almost 8 of the last 10 years studying between an undergraduate hdip and masters and am feeling a bit burnt out tbh.

That said. I want the PhD and the opportunities that it brings for my family and future. While I'm wondering if the time is right..I'm also aware it's probably never the right time you just have to jump in?

Has anyone been in a similar situation having had children during a PhD. Him also interested in how you managed financially if on a stipend and used to a full wage? Especially over a few years of studying! I am already trying to imagine surviving on less than half a wage with bills to pay and a new tiny human. My head is a bit of a jungle. Would appreciate any beads of wisdom.

Proposal would have to be in next month if going for it.