How much money should i excpect to save for my first child?

Question

I am almost 20 years old and i am 6 weeks pregnent. My boyfriend and i are working hard to save money for the baby but neither one of us knows how much money we should be saving at least to be in the clear? Any advice would help.

Answer 1

Kudos to you two for thinking ahead! It's a sign you can be great parents.

You want to save every penny you can.

There are a few things you don't need to spend money on - bottles, formula, crib, changing table, stroller, most clothes.

Nurse your baby for at least two years. Not only is it cheaper, but your baby will be far healther, no ear infections which are ungodly painful - and formula lowers iq and causes diabetes.

Cribs - little prisons for babies. They evolved to sleep with mommy and should - it helps nursing relationship, helps mommy sleep.

Changing table - ridiculous, babies squirm so much it's better to change them on the floor.

Stroller - silly detachment tool - get a sling.
clothes - if you have a nice enough climate, most babies and toddlers prefer to spend their time in their diapers.

Lots of baby books, like 'what to expect' preach detachment. They tell you that you will be sad to separate from your baby but your baby won't. These are bizarre lies people are telling themselvse for obvious reasons - to justify not parenting once they become parents. Read books by people who actually love and care about kids - Dr. Sears "The Baby Book," Penelope Leach's book, Brazeltons - The Irreducible Needs of Children, and the fabulous essays at Natural Child Project: http://www.naturalchild.org

Read a lot about nursing, go to la leche league.org and get connected locally so you have the support you need. Avoiding those ear infections that come from bottle use will make learning this ancient skill so valuable - without even considering all the other money saving health benefits and emotional and intellectual bennies.
It would be good to look into getting an annual membership to museums/children museums/parks etc - places you'll love to take your baby and want to have paid when you're not scrimping and saving. Start getting board books and picture books at yard sales or library sales.

Figure our your living expenses and save enough to meet those on one salary. We went deeply into credit card debt to live after the birth of our son and it was worth it, but savings would have been nice!

I tried to work, thinking it was the right thing for all of us. Not only does the research show it is a disaster, my son was with his devoted, doting dad and screaming bloody murder for me night after night. Babies need their mommies and the very most important thing you can give your baby is no separation from mommy in the first three years or so of life. The rewards in your baby's health, intellect, emotional stability, independence (yes, getting what you need makes you independent!), and the health of your family will outweigh any sacrifice. (Yes, the NICHD research that shows day care is so bad for kids, even if daddy is the 'day care' also shows that day care use hurts the family bonding.)

I'd look into spending some money on a marriage license and using it. Overall, a child has a much better chance if mum and dad are married. Especially when times get so overwhelming tough as they do in the baby's early days - tough offset by incredible bliss - it's good to have that committment. Sometimes, the committment is the only thing that holds a relationship together and sometimes, especially at times of major upheavel, relationships need all the help they can get.

Answer 2

Well as far as medical bills go that depends on insurance, or if you are paying it yourself or what. It should be around 3 thousand for the hospital stay if you have an uncomplicated vaginal birth and stay the minimum time. Get induced or have any isses and the prices go WAY up. I belive a c-section is around double that. The dr itself will cost around the same for the 9 months and figure around 1-2 thousdand for delevery. A midwife is cheaper as well as a homebirthing center or a home biirth.

If you are taking about the first year well there are a few big expensis that I would put assside around 500-600 for like the crib, a good stroller, a good carseat (if it dosnt come with the stroller) and some clothing. Diapers you want to figure on speding around 20-40 a week at first. but that will go down. We went through about a box a week at first ($20 a box is kinda high but better than figuring low) and now it takes abuot 3 weeks to go through a box. Formula is EXPENSIVE, I breastfeed so I didnt have to worry about it but my cousin spent 50-60 bucks a week on formula. And then you also have to buy the bottled water for that Its around a buck a gallon probibly 4 gal a week I would assume. a newbaby drinks between 32-64 oz a day at first. if you are breastfeeding a good pump is around 50 for a manual and 200 for an electric. I recommend the Avent Isis, manual works awsome and they have an electric version as well.
IF you are taking college well just start now. Its gonna take a long time and alot of cash. Probibly over 50 thousand if they are going to state college.

I'd say if you are taking about to make sure you have a cash cusion for when the baby is born try to save up 2-3 thousand for if something happens or you are short one month.

|Good luck and awsome job trying to be responsible!

Answer 3

first off of what the first person told you about the hospital bill.if you dont make a lot and are qualified, go to the health department in your area and if qualified they will pay for everything. and yes this is a true thing, my friends have had to do that since they didnt make a lot. mind you, i commend you because you are trying to save up money for when the child is born compared to my friends who didnt plan on having kids at all and just mooched. so be kind about using this program only if you need it!!
now as for me i dont have any kids but i do plan on trying in about a year or so when i have a place of my own and am pretty well set into my job. i dont make a lot there so i would prolly have to go with the health dept.
but if you have lots of friends and family i would have a baby shower and hint to them the necessities of what you will need. such as DAIPERS.
clothes you can buy for $1 a piece at goodwill, strollers around $10, infant shoes $1-$2, toddler/kid clothes $2-$3 ( a piece mind you unless they are rally new, they will be higher priced) they dont sell beds due to sanitation laws, and rarely cribs, so you may need to shop around the iwanna for those. compared to walmart that charges $10 for an outfit, $10-$13 for two crib sheets, $60-$80 for a stroller and/or playpen, $20-?? for diapers that you know you will run through really fast! mind you i have already gone to wal-mart and compared prices for when i do have a child, what to expect of the prices.

good luck!
p.s. sadly my parents never saved for a college fund, not with three children (my twin and I and my lil sis) and i know the prices of almost everything in the hickory goodwill because i work there so take my word on the prices, now sadly i cant say anything about your area since i dont know where it is.

Answer 4

A LOT!!! First off, just having the baby at the hospital will run you about the cost of a car (12K- 24K) Then they cost about that much a year until they are school age. Still expensive, but you should definately save every penny you can now! That way you will have some kind of start. Also, are you thinking about college? This is the time to save for that. My parents started saving money for my college fund before I was born, and there was enough for four years.