(Closed) Cost of Having a Baby

posted 7 years ago in Babies
Post # 31
1443 posts
Bumble bee
  • Wedding: August 2012

Re:  cloth diapers.  A lot of daycare providers will not deal with them.  I found this out when I was looking around for daycare providers. 

Post # 32
707 posts
Busy bee
  • Wedding: January 2004

DH and I are 3 years away from having all of our student loans paid off, and 5 years away from being financially ready for kids. We are taking extra precautions to ensure I don’t get pregnant before we are ready. Right now, we are living in a 700sq ft apartment. We want to buy a house after we pay our loans off, go on a few more exotic vacations, and just enjoy “us” time before kids come into the picture. 

Post # 33
660 posts
Busy bee
  • Wedding: April 2015

I overheard my Dad telling my Fiance that having a baby isn’t very expensive, unless you want all the expensive modcons, which babies don’t give a damn about. He said they start to cost money when they hit school. 

We’re in Australia so medical bills don’t factor in so much because it’s all covered by medicare.

I guess you also need to factor in lost income though.

It’s something my Fiance and I talk about too , the cost of having a baby but like so many have said in this thread, you just make it work and I’m confident that we could do that.

Post # 34
1798 posts
Buzzing bee

Like others have said, the cost of a baby is what you make it. You could buy $200 worth of cloth diapers to last you until your baby is potty trained, breast feed, buy used/on sale items, etc., or you can buy all of the gadgets brand new, formula feed (nothing wrong with it) and use disposable diapers, which would make it a bit more expensive. It’s all about how comfortable you are with using different methods to cut costs! I’m still between whether I will BF/use cloth diapers, but I do know that my newborn will probably have very few brand new outfits, and I definitely don’t think we will be investing in some of the bigger toy items as those usually go to waste anyway.

Post # 35
3571 posts
Sugar bee
  • Wedding: June 2011

I’m pregnant right now, DH and I are starting our own business, and while we make a decent chunk of money, we are also paying off student loans and DH is about to go back for his phd. Here’s the jist of my plan:

-DH’s stipend will cover rent, and we’ll get health insurance through the university. It will cost less than what we are paying for independent policies right now. DH will also work on the side some, and I will continue to work. 

-Re: child care. So expensive. Luckily we’re going to be in the middle of the country where it’s comparatively cheap. I’m also going to look into doing a “Mommy share” (like a nanny share, but where mom’s split up the time) with another part timer and childcare co-ops. Between DH’s flex schedule, my flexibility, and options like this, I think we can make it work. We’ll just have to be more judicious and productive with the time we DO have away from baby.

-Our student loans are going into income-based repayment. We’ve been doing flat repayment plus some extra, but we have a lot of loans and it’s just not feasible to continue at this level while saving for retirement/college/house payments etc. In the end, we’ll have a huge amount forgiven and we’ll still have a large tax bill (tens of thousands), but we also have time to save that. 

-We are going to cloth diaper. I’m not yet comfortable making baby purposes (we’re still waiting to hear the heartbeat at our first midwife appointment), but I am stalking some sets on craigslist. You can get high quality cloth diapers for about half the cost of new on craigslist. So we will probably spend $200-$300 on diapers that will last from infancy to potty training and could also be reused for another baby. (So that’s saving about $1000-$1200) right there. 

-We’re going to get a minicrib. If someone offers to buy it for us, great. Otherwise we’ll see whether we can find any great deals for a used one and re-finish it ourselves. So rather than $400-$600 on a crib, we’ll be spending about $100-$250

-I’m going to try my best to breastfeed. A pump is really expensive, but again, there are some you can buy used and order new tubing for. Under the ACA, you can also get at least a partial reimbursement through your insurance company, and some carriers will cover the whole cost. You can also rent one from the hospital too, but I’m not sure if that’s cheaper. 

-You can often find really cute clothes with the tags still on them at second hand stores for a fraction of a price, or clothes that have had the tags broken off but have never been worn. This is because people are often gifted more clothes than they can even get on baby before he or she outgrows them. 

-Libraries often have childrens books on sale for next to nothing. It’s a great way to start your library of books. 

-Like PPs said, a lot of “baby gear” is unnecessary. You don’t NEED a wipe warmer (seriously), a diaper genie (trash can), a bottle warmer (pot of water/microwave – just don’t be an idiot about it). 

-If your income is low enough, you might qualify for programs like food stamps, WIC etc. I have no idea how this works, but where I grew up I suspect the majority of families have some form of this.

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