Cost of Having a Baby

posted 3 years ago in Babies
Post # 2
Member
8425 posts
Bumble Beekeeper
  • Wedding: April 2013

alleycat1984:  Sometimes you just have to tighten your belt (i.e. skip vacations, don’t dine out, etc) and start paying down loans.  Once that gets paid down, it’s a lot easier to get ahead.  I don’t think most people (minus the top 1%) are ever 100% financially ready, but you just have to do the best that you can and work with what you have.  Best of luck.

Post # 3
Member
2571 posts
Sugar bee
  • Wedding: November 2013

 

alleycat1984:  Commenting to follow, as my husband and I talk about this quite a bit ourselves.  We make enough to pay bills and have some fun, but a baby is an entirely different story.

Post # 4
Member
7262 posts
Busy Beekeeper
  • Wedding: February 2013

Take smaller trips, go out to eat less frequently, try breastfeeding, buy used items for the baby if possible. Babies are only as expensive as you make them (minus the hospital fees, ugh!). Of course they get more expensive as they grow older. Just save where you can 🙂

Post # 5
Member
9137 posts
Buzzing Beekeeper
  • Wedding: November 2013 - St. Augustine Beach, FL

alleycat1984:  After health insurance to cut down on the cost of medical bills, the biggest ticket item you need to plan for is childcare.  Whether you or your spouse become a stay at home parent or you enroll your child at daycare, there is going to be an impact on your current budget that you will need to figure out.  Once you figure that out it’s time to worry about diapers and formula.  Everything else usually falls into place.  You have to figure out where you are willing to cut your expenses to be able to afford a baby but in all honesty most couples just figure it as they go.

Here’s our breakdown: My job provides health insurance at a low rate for families. My husband works from home but his schedule is flexible enough that he could provide daytime care for our child at no additional expense.  We decided not to buy a house because in our area it’s cheaper to rent and our rent plus utilities is under 30% of our net income each month.  We also share one car which is paid off so no car payments and our car insurance is really cheap.  That gives us plenty of money for other things like cell phones but we save here too by having basic phones with the smallest plan instead of iPhones with data plans.  We cut cable because it was costing us over $100 a month and instead we have subscriptions to Netflix and Hulu Plus.

Post # 7
Member
8425 posts
Bumble Beekeeper
  • Wedding: April 2013

alleycat1984:  We’re planning on using cloth diapers, so after the initial investment, we’ll just be paying for extra water and electric.  I think disposable diapers can get pricey though.

Post # 8
Member
1618 posts
Bumble bee
  • Wedding: September 2012

DH and I are lower middle class as well and our dd is 4 months, it is hard financially, but we make it work just fine. DH has a full time job and a part time (his choice, pt job has better health insurance) and I only work weekends so I can be home with dd all week. We bought our home, have about 2 years on DHs car loan, and both have student loans. I’m not going to lie, sometimes it sucks not having a lot of extra cash, but were doing just fine. Our bills get paid, food is on the table, and dd has everything she needs. We don’t go on trips, go out to dinner, and I don’t go shopping, I use coupons whenever I can and we only buy what we need. 

It can all be done, you just have to be firm with yourself and get creative. 

Post # 10
Member
7262 posts
Busy Beekeeper
  • Wedding: February 2013

alleycat1984:  DD is 4 months old, and we spend about $35-60/month on diapers. We buy Luvs diapers in bulk.

You can also do cloth diapering, but it just didn’t seem feasible for our family. Also, the thought of  it kind of grosses me out.

Post # 11
Member
13020 posts
Honey Beekeeper
  • Wedding: June 2011

I think people just make it work, what other choice is there?  If you have enough money to travel though, you have disposable income that can be used toward savings or a child… that’s more than what a lot of people who do have children have.  And once you pay off some loans, that would free up some cash too.

Post # 12
Member
8425 posts
Bumble Beekeeper
  • Wedding: April 2013

Also, the thought of  it kind of grosses me out.

Cory_loves_this_girl:  I guess to me disposable diapers aren’t any less gross than cloth diapers since you’re supposed to get rid of the feces in the toilet either way.

Post # 13
Member
1118 posts
Bumble bee
  • Wedding: September 2012

I’ll second what some others have said.. You just make it work and somehow it does.  My DH and I are middle class and we live in an area with really high cost of living.  We were majorly worried about the cost of having a baby but honestly our DD is 4 mos old and everything is working out fine.  We do have to pay for daycare which is the biggest expense!  But as someone else commented a baby is as expensive as you make them to be, in a way… For example do I want to buy every cute little outfit/stuffed animal/fun looking toy for DD = Of course I do.. But I don’t!  Honestly with gifts from family and friends (both from my baby shower and just random gifts) we haven’t really had to buy her ANY clothes other than a winter coat and that’s just bc the ones we were gifted were too big.  We also hit up the local consignment sale at the church (most towns will have one MOPS) and we got a swing for $30, a walker for $20 and they have clothes for $1-$3.  I am breast feeding so we don’t have that expense and we know once DD starts eating solids our grocery bill will go up, but we’ll just cut back on our meals (no more steaks for example).  I also did a diaper drive at my shower and DD is almost 4 mos and we have only had to buy one pack of diapers so far.  We buy them at costco, wipes too so that saves us $$.  We did have to cut back on a few of our investments but we are able to put a little away into savings every month so far.  It seemed impossible before but once your baby is here you make it work!

 

Post # 14
Member
3280 posts
Sugar bee
  • Wedding: June 2014

The only large expense I’m really expecting is diapers and nursey furniture. Everyone I talked to said babies are a lot less expensive than they expected. We have healthcare through his job, cheaper house, free childcare, decent savings and good jobs so I feel we’d be okay when it happens as there not many emergencies. 

Post # 15
Member
7262 posts
Busy Beekeeper
  • Wedding: February 2013

housebee:  I don’t know, ours go straight to the diaper genie. Like I said, cloth diapers just aren’t feasible for us because they would create WAY more laundry than we’re willing/able to do.

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