(Closed) Planning for a Baby – Budget?

posted 7 years ago in Pregnancy
Post # 3
2226 posts
Buzzing bee
  • Wedding: January 2012

We will be TTC in april and we haven’t really considered a short-term budget. Kids cost money in the long term (clothes, books, food, college) but my philosophy is that babies cost as much as you want them to. You can get toys, car seats etc second hand and for the first 6months food is ostensibly free. The priciest part, as I see it, is diapers. so aproximately 100$/month.


Post # 4
887 posts
Busy bee
  • Wedding: June 2013

You can cut a lot of costs by breastfeeding, cloth diapering, and opportunistically accepting hand-me-downs (for furniture, clothes, etc.) and snagging good thrift store finds. Formula and disposable diapers are very expensive – but even those costs can be substantially reduced if, for instance, you buy in bulk at Costco. Health insurance for your birth and for pediatrics for your baby might be another big cost, depending on where you live and what kind of coverage you already have. I googled ‘baby budget’ last night and found a few different things, so give that a try.

ETA: childcare is of course a HUGE potential cost. I’ve seen full time daycare estimates of $10 000 per year. Think about how worth it it is for both of you to work, whether you have family who could help out, and what your option are there. That will be a big factor in whether you think you can afford it.

Post # 5
861 posts
Busy bee
  • Wedding: June 2012

@FreckledFox:  I read a thing that said to save as much as childcare costs per month, so you will get used to living without that much money right away. So we’ve been doing that, and fortunately childcare is quite expensive so we’ve got a decent savings already and we’ve only been doing it for a month!

Post # 6
7899 posts
Bumble Beekeeper
  • Wedding: March 2012 - Pelican Grand Beach Resort

This really depends on your lifestyle and how much you will need childcare.

For us, one of us can be home with baby all the time for the forseeable future. We were blessed with tons of wonderful gifts and hand-me-downs, so out initial expenses will be the extra food I eat while breastfeeding and then that the baby eats when older and the added laundry costs from laudering our cloth diapers and wipes and the clothing. If you use disposables, that will be a huge constant extra expense.

If you have lots of disposable income, you could easily blow through that on a baby fast, which is probably why the average child in American costs $235k just to get high school graduation.

According to a USDA study, “The typical two-parent middle-income family spent $12,290 to $14,320 in 2011 on each child, the study found. Households that make less spend less, USDA researchers said. A family earning less than $59,410 a year will probably spend $169,080 in 2011 dollars to rear a child, while parents earning more than $102,870 may pay $389,670, according to the study.”

Post # 7
3175 posts
Sugar bee
  • Wedding: May 2012

My newborn cost next to nothing. I breastfed, cloth diapered (diapers were a shower gift), and had free child care. Once he was eating solids, I made my own baby food, and it was a very minimal cost. Most clothes were hand me downs or from the thrift store (plus, many people gifted clothes constantly, people love buying baby clothes!). My son is now 3, and probably costs about $100-150/month, and that’s because he’s a huge eater.

I would say large costs could be childcare, insurance and diapers (if you don’t CD, though you could coupon and get packs for <$5/week). I would try to start a savings for future costs (things for school once he/she’s school aged, etc) ASAP, though. I think that’s when children begin getting expensive.

Post # 8
4272 posts
Honey bee
  • Wedding: April 2012

We did not buy anything until after the shower and we have been accepting hand-me-downs.  I am looking to breastfeed so that could save us on formula. We were very blessed when it comes to what we got at the shower.  We have only had to really buy a crib and dresser, we got an almost new crib/dresser set from a family member for $300.

We paid down a credit card, one car and now paying down the other car. I will most likely have to cut my hours when I return to work as daycare is expensive and we don’t really have any family members to watch her. We have health care through his work and they gave us a debit card that is restricted to additional hospital payments so that helps a lot.  So, here is hoping that we are looking at $100 extra a month….

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