It is a Sunnah (action following the teachings of the Prophet) to offer `Aqiqah (sacrifice for a newborn) for all children; two sheep for the male and one sheep for the female if you can afford it. This is so, even if you need to borrow money to do it and you can repay it later. This is to follow the example of the Messenger of Allah (peace be upon him) where he offered 'Aqiqah for
Al-Husayn and so did the Companions (may Allah be pleased with them).
Imam Ahmad said: If he borrowed, I wished that Allah (Exalted be He) may compensate him for it because he revived a Sunnah (acts, sayings or approvals of the Prophet). If you cannot afford but one which you offered for a male baby as is done for the female, it will be acceptable, In sha’a-Allah (if Allah wills) and you will be rewarded by Allah (Exalted be He).
Ibn `Abdul-Bar said: I do not know any scholar who opposes this.May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.