Is it expensive to have a baby? I want to budget out extra money before we start trying?

Question

I am married and we make decent money. We have good insurance. I plan on just staying out for the 12 weeks, then returning to work. We will need child care. Do these details help?

Answer 1

There are lots of ways to save on baby stuff.
1. buy used
2. buy store brand diapers, both my children wore/wear Walmart brand diapers
3. buy clothes ahead of time and when on sale, tshirts and such at target will go on sale down to $2.50
4. Stock up while pregnant, I bought a pack of diapers, in various sizes (NB, 1 and 2) with every paycheck when I found out I was pregnant.
5. I have never had a changing table, always used the bed or couch
6. Bought my crib from a friend
7. Accepted hand-me-down clothes every time offered, then gave my kids clothes away if some one had a kid younger.
8. Buy basic clothes well in advance of them fitting when they are on clearance (I found $1 tshirts in 5T the other day, my daughter wears 2T now) and save in big Rubbermaid (or store brand) boxes until they fit.
9. Buy clothes off eBay, got 3 adorable dresses for $5 plus $3.50 shipping
10 breastfeed, buy cheap Gerber bottles, baby doesn't care
11 make your own baby food, store brand is expensive and has preservatives most of the time (food, blender, ice cube trays to freeze and lasts a month) Book "Super Baby Food" is great for that!
12 Use Coupons (check out thegrocerygame.com)

My husband is a stay at home dad, I am only income, we spend lots on extras for fun (Disneyland, Six Flags etc) because we save alot on necessities

Answer 2

It is very expensive. Do you have insurance? The doctor bills will be high. Do you plan to breastfeed or bottle feed. It is cheaper and better for the baby to breastfeed. Formula is expensive. So are diapers. Plus you have another person in the house to clothe. But you don't have to be wealthy to have kids. Just realize that you may have to make some changes. I think budgeting extra money before you start trying is a great idea. If you are planning to have a baby, I would say just make sure you have good insurance and are willing to put the baby's needs ahead of your own. I would love to go shopping, maybe have a manicure/pedicure but I have kids, so I guess I'll have to settle for watching a video and my daughter and I can just paint each others nails. Good luck. By the way, kids are totally worth it.

Answer 3

Yes babies are expensive... What I would do is look at diaper cost think about how you will need about 10 a day, then whether or not you're planning to breastfeed and if you are I would still buy a can of formula (for purposes of daddy feeding him or babysitter or whatever) and you will need bottles. If not ask somebody you know that formula feeds and see how much formula they go through. (My friends baby eats about 10 cans of formula a month) Plus figure out what your budget is now add diapers, wipes, toys, clothes, plus you want a little more for unexpected things (meds, diaper rash cream, ect.) In "what to expect when expecting" and "what to expect in the first year". And if you are taking off 12 weeks find out if and what your job pays for materinaty leave and figure out how much money you need. Good luck to you... And while babies are expensive they are worth it!

Answer 4

It is very expensive to have a child, period. You have to buy all of the nursery furnishings, car seats, strollers, high chairs, etc. (Sometimes a baby shower will help with some of this.) Then you have to constantly buy diapers, clothes (until they are toddlers, they grow out of clothes faster than you can buy them.), and if you decide not to breastfeed, formula and bottles. Then you have the extra expense of health insurance, prescriptions, over the counter medicines, etc.

And it doesn't get any better! Then you have Christmas, birthdays, an extra mouth to feed at meals, new school clothes, school supplies (my daughters for kindergarten this year cost 100 bucks!), shoes, field trips.

Then they get older and you have to buy the latest video game systems, name brand shoes and clothes, money to go "hang out" with friends, not to mention all of the other things they will ask for on a daily basis.

You will not get a break until they turn 18 and (hopefully) can move out on their own.

So yes, babies are expensive. Babies turn to toddlers and toddlers are expensive. Toddlers turn to pre-teens and teens and get even more expensive.
So be prepared :)

Answer 5

yes. much so. There is all the stuff you'll need, the room, the care, the time off, and the doctor for you both. Lots of money. you should find out about what your insurance will cover and estiamte at least 1 visit a month, see how much you'd spend on stuff for the baby and the room, what kind of time off you'll get and what you'll need money wise while the baby is young and ou are home. And after you calculate all that add more on to it to be safe. Then, you'll still not be ready, but you'll get through it.

Answer 6

Babies are cheap provided you have health insurance. People choose to take care of babies in ways that are expensive (formula, disposable diapers, lots of new toys and gadgets) but you can get by on almost nothing if you cloth diaper, breastfeed, and buy used stuff (clothes, furniture, and gear) for your baby. When my daughter was six months old we had spent a grand total of $300 on her. That's not 300 per month- it's just $300 total, so $50 per month. There's nothing inherently expensive about having a baby (except for the medical costs), but people make it that way by their choices. If you are paying your bills on time now, affording a child is easy. The government gives you more in child tax credit than you even have to spend on the baby. If you are someone who loves to spend money, having a baby gives you an excuse to do so but most of it is not necessary.

Answer 7

Having insurance is a huge factor and so is what other debt you have. If you live paycheck to paycheck now, don't get pregnant. Budgeting is a great idea but it will take more then a thousand dollars to be secure enough. I wish I knew all your circumstances to be able to answer better.

With no insurance, the cost of actual medical care and delivery is thousands and thousands of dollars alone. Kids get more expensive as they get older.

Answer 8

Health insurance should pay much of the cost of the actual delivery but yes hospitals and doctors are expensive. What is more expensive is raising the child.

Answer 9

I'm not a mom, but my friend had a baby a few months ago and she said it doesn't cost as much as she thought it would. If you have health insurance, it should pay for most doctor bills. If you breast feed, that'll take care of the formula costs. If you use formula, the powedered is cheaper and smells better than the liquid. Diapers obviously are a lot, but it's really part of life. If you wait till you're ready....you'll never have one.

Answer 10

Well the cost of raising a child from birth to 18 ranges from $100,000 to $250,000. (depending on the sources that you look at)

Having my daughter (I am a single parent) has put me into financial debt, and I am struggling to get out of it before it becomes to much. She is 3 now and I have drained my savings account, and my college fund that my parents had saved for me.
I live paycheck to paycheck, and the only extra $$$ I have is in a savings account for her.

So before you decide to have a child, whick is the greatest joy that you can have in life, I would recomend that you at least have a good financial base to start with.