Babies are expensive, there’s no doubt about that. And the more children you have, the more expensive your childcare costs are going to be - and when a new baby comes along, that’s when the cost of raising a family skyrockets to the moon and beyond. You have less time on your hands, and you definitely have less disposable income; how do you cope?
The newborn stage, on average, is usually the most expensive time of a child’s life. You have to take care of their every need, after all, and that’s going to cost you quite a bit per week, never mind on a yearly basis. And because of that, let’s examine how expensive a new baby really can be. It’s important to think about in the run-up to extending your family, no matter how exciting the process can otherwise be!
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The Prep Costs Can Be Huge
There’s going to be a new baby in the house, and that’s something that’s going to cost a lot to even get ready for. You have the nursery to decorate, you’ve got the kitchen to stock, you’ve got the bathroom to make baby-friendly, as well as baby proofing the rest of the house, just in case! On top of that, you’ll have to buy quite a few soft furnishings, as well as self-care items for you and your body, and there’s a good chance you’re going to be off work for a while. How are you going to pay for such an expensive addition to the family?
Mostly it’s done via saving and budgeting, as well as one partner remaining in their job, whilst the other stays at home. Of course, depending on which one in your relationship has the higher paying the position, either mama or papa could be the one holding the baby!
The Recurring Costs Can Be Hard to Keep Up With
After the preparation you’re going to have to do, you’re going to need to keep up with the recurring costs as well. And that means things like formula, clothing, cleaning items, as well as diapers and washcloths, and baby-friendly soaps and sponges. Most of all, you’re going to want to buy as cheap as you can, but at the same time, buy durable products that take care of your baby. After all, there’s always a worry that a cheaper brand of something is going to harm your child in some way, shape, or form.
Of course, budget companies like Depends diapers exist out there, and they have a lot to offer people worried about the cost of their new baby. Especially if you’re a first-time parent, this is definitely a lot more useful than someone who’s been through the experience before!
A new baby can be very expensive. Indeed, even just delivering a baby in the hospital can cost you upwards of about $10,000 in some areas. You’ll need to budget and prepare, so know the costs ahead of time, and be ready!