(Closed) Tips on how to plan financially for a new baby?

posted 7 years ago in Babies
Post # 6
Member
1944 posts
Buzzing bee
  • Wedding: June 2009

You can never plan to much and at the end of the day you have to do what works for you guys. Darling Husband came to me about 9 mths earlier than we originally planned to start TTC last year bc we were completely debt free not including our mortgage. We weren’t sure we would be in that position so soon, so we started early. This was a goal for us before we started to TTC. We also have about a years worth in savings to cover everything if we BOTH lose our job tomorrow. Yes some might feel thats too much but we also put some in IRAs and build up our retirement. Not sure about the costs the first years as it will range from couple to couple. We will not need daycare as I work nights and oly 2-3 nights a week while Darling Husband works days. The only time we would need someone is the 1 night a week our schedule lasps and someone will need to be with the baby for about 4 hrs till I get home. But fortunately, my inlaws live a mile away. Since TTC we have been putting more money aside and being more budget conscious to prepare for the extra person, whenever they come. 🙂

Post # 7
Member
538 posts
Busy bee
  • Wedding: May 2010

For us, a good number would be about $5,000 pre pregnancy for start up costs.  This helps cover things like OB, Delivery, other medical costs (ultrasounds and bloodwork), and about $2k for big ticket items.  

Here is about how we have it broken down: 

  • OB – $500
  • Hospital – We are guessing around $1,000? 
  • Other medical costs – $500
  • Crib $200
  • Mattress $100
  • Dresser/changing table $200
  • Other nursery stuff $200
  • Car Seat $200
  • Breast Pump $250
  • Swing $150
  • Stroller $200
  • Feeding gear $100

  • High Chair $150

Those are some rough numbers and don’t include costs for things like clothes, etc. because we figure we will get some small stuff at a shower and be able to fit those smaller things (under $100) into our monthly budget.  

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