Having a baby is probably one of the greatest joys in life. Welcoming a new family member is a thrilling, exciting, and uplifting experience.
However, there are some things that change with this event, and the first one parents notice is their budget.
How does a baby affect a budget and how much does it really cost to have one?
How Much Is The Baby?
There are several factors you should consider if you decide to have a baby.
Here, I listed only the basic ones and the prices may vary from state to state, continent to continent, but the average cost is usually a few hundred dollars more or less.
1. Prenatal Budget
Even before your baby arrives, there are several expenses you need to think about.
For example, you will probably need money for checkups, healthy food, pregnancy clothes, and breathing classes.
All these things are necessary for the mother to be healthy and feel better about her pregnancy.
Also, if you are having a C-section, it is important to prepare a budget for that, as they may be quite expensive (up to 8000 dollars).
Many mothers need to buy vitamins each month and this should also be calculated into the budget.
When the mother is due, it is important to know how much the hospital stay is going to be so you can prepare accordingly.
2. Post-Delivery Budget
For the first dozen weeks, you may experience huge changes in your budget.
You are probably on maternity leave, the baby needs a lot of things, and there are usually many doctor’s visits to take into consideration.
All of this can be quite stressful and it may have a negative effect on your psyche.
However, I promise, you will get used to it and it will become the new norm for you.
Now your baby needs you to cover everything they need – from food, diapers, and clothes, to toys.
Do not be fooled, if you have a lot of friends and family members, many will gift you clothes and toys so you can save up on that stuff.
3. The Repetitive Costs
Now that your baby is not an infant anymore, there are other things you will need to add to your budget.
Diapers are mostly still there, baby food, toys, and doctor’s appointments.
These things can add up to $100-150 a month.
However, this is usually the period when you go back to work, and what might hit your budget is daycare.
Many mothers will find this period difficult both financially and emotionally, but they quickly get used to it.
The average cost of daycare can go up to $800 a month.
With baby food and diapers, that is an additional $1000 a month. Whew!
However, if you have family members who are willing to babysit, if you find a cheaper daycare, or if you can make amends with your partner and find a way to work opposite shifts for a while, then it can be a great way to save money.
How Can You Save Money During This Period?
We all want the best for our babies and it is reasonable to always want to buy new items that cost a lot.
But if you do it constantly, it may add up to a large sum of money that you spend on things that are not going to be used forever.
There are several things you can do to save money during this often difficult time.
1. Second-Hand Baby Clothes
As previously mentioned, try not to buy a lot of baby clothes during your pregnancy.
Chances are, you will be gifted a lot during baby showers or upon delivery.
Also, when your baby arrives, you can ask your friends and family whose babies are already bigger to borrow you some of the clothes they no longer need.
2. Breastfeeding
If possible, try to breastfeed as much as you can and as long as you can.
It is not only healthier for the baby, but it is also a great way to minimize spending money on formula.
Breastfeeding will also be easier than buying formula and bottles all the time.
3. Buy In Bulk
You can save a lot of money by buying things in bulk.
It is a great way to get all the essential things you need while not paying the full price for them.
Also, this will make you feel much safer, as you will always know that you have necessities stashed and ready to use.
4. Take Ad vantage Of Free Stuff
There are many free things around you for new parents, you just have to look for them.
Coupons, gift cards, loyalty programs, and free parenting classes can easily save up to $100 a month.
Join a group that offers these things for new parents and you will breathe much easier.
Remember, it is all about you enjoying your new adventure, so try to make money a little less important during this magical period.