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Budgeting for a Baby
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 Everyone
says it: you want to wait until you are financially more stable
before you have a baby. Unfortunately, with the income-outgo
ratio that rises equally, the time of being better off financially
may never arrive. Instead of waiting for your finances to
be perfect, however, you can simply make any budget work for
a baby. There are a few things you should be aware of that
are the most costly with a baby, and budgeting these things
in advance can help you see where you stand and be a little
less shocked when you realize how much a baby is actually
costing you.
Before you have a baby, you need to consider the cost of
the following items for your little one:
• Clothing—this includes sleepers, clothes for
outings, onesies, gowns, and more. You will need to buy plenty
of clothes for your little one because they can ruin them
really quickly and you will have to buy more often. They also
grow very quickly so you have to continually do this until
they are much older. Figuring clothes in when budgeting for
a baby can help you tremendously.
• Furniture—you will need quite a bit of furniture
for a baby, including a swing, a baby bed, a bassinet, a playpen,
a highchair, and more. These can be bought cheaply or they
can be more expensive, so it is important to figure these
in your budget before buying them. This can prevent you from
splurging too much on one item and causing yourself problems
when you need to buy some of the others.
• Small items—this includes things such as bibs,
bottles, medicines, baby wipes, baby soap, etc. All of these
things will need to be bought repetitively for a long time,
and you will want to allow a monthly dollar amount for them.
• Diapers—this is one of the biggest expenses
for new parents. Diapers cost a lot, and you have to buy them
constantly. You will need to probably buy two large packs
a week for the first couple of months and then you will need
at least one a week until your baby is potty trained. You
can save money on diapers if you buy them in bulk, so you
need to figure in how and where you will be buying the diapers
to know the correct amount you may spend every week.
• Formula and food—formula is the most expensive
item for new parents besides diapers. If you will breastfeed
your baby, this is obviously not an expense you will have
to worry about, but you may want to figure it in just in case
the baby has a hard time taking breast milk or in case you
have problems with feeding. You will usually need at least
two large cans of formula a week for a newborn and this will
slowly increase until your baby gets older and starts taking
food. Then it will begin to taper off, but you will replace
that cost with the cost of baby food.
• Babysitters and work—when budgeting for a baby,
it is important to factor in the two biggest causes for financial
difficulties. If the mother works, you will have to include
the lack of income that used to be there. If the mom will
go back to work after the baby is born, you will still need
to count some time of monetary loss for when the mother gave
birth. It is also best to figure in an extra couple of months.
While you don’t want a difficult pregnancy, they do
happen sometimes requiring the mother to be on bed rest for
a long time, sometimes even months. Figuring this in can help
you be financially prepared if this were to happen. If the
mom will go back to work, it is important to figure in the
cost of daycare or a babysitter. This can often be much more
than you might expect, so you will want to investigate this
as soon as possible.
• Medical bills—even if you have good insurance,
and especially if you don’t, medical bills can be expensive.
Even with a perfect delivery of a healthy baby, the obstetrician
visits for nine months, the delivery and hospital stay are
expensive. After the baby is born, there are many regular
well-child checkups that can also add up as an extra expense.
And, if your baby were to become sick, these expenses can
rise dramatically. So, including a regular monthly or bi-monthly
cost for medical care is always a good idea.
Having a baby can definitely change your finances and will
cost quite a bit more than is expected by many people. But,
with proper planning and budgeting, you can be prepared and
enjoy your baby without any financial burdens or worries.
Related information articles:
Baby Names
Taking a Hot Bath
Taking Ibuprofen
Using the Microwave Oven
Wearing High Heels
Using Acetaminophen (Tylenol)
Bleaching Teeth
Drinking Milk from Cows That
Were Given BST
Drinking Unpasteurized
Juices
Eating Deli Meats
Taking Echinacea
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