Parakeet in an apartment??

Hi, i am a housewife with two boys below ten years of age, so you can understand how much of my time goes to take care of them, i am planning to bring home a Parakeet to live with us. I live in a moderate sized apartment with my husband and kids. I want to know whether bringing home Parakeet as a pet is not a mistake. Also tell me how should i take care of the Parakeet. And everything i should know about it.