Budgeting for Baby
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Budgeting for Baby

Preparing for a new addition? According to government estimates, the average middle-income family will spend roughly $10,000 on child-related expenses in the first two years of life ($8,000 for a second child), and some experts suggest that figure may be too low. (Women's Issues)

Let us help you calculate your new budget plan for one-time and monthly expenses.  

Compare Costs: Enter your cost estimates for the following items that you expect to purchase: We will compare what you expect to pay with actual retail prices. We will then help you calculate your new budget plan for one-time and monthly expenses.

This will hopefully help you better prepare for your bundle of joy.

One-Time Expenses

 
Item Estimated Cost
Car seat
Crib
Crib Mattress
Bedding
Changing table and pad
Rocking chair
Bassinet
Stroller
Diaper bag
Baby monitor
Bath tub
Nursing items and clothing
Safety gate
Play center or walker
Thermometer/First Aid kit
Dresser
High chair
 

Monthly Expenses: Some of these might be in your plan and others may not.   If you plan to breastfeed and not use formula, for instance, just enter $0 in the blank.  

Don't forget to add this "sub-budget" to your overall monthly family budget.   See the "My Budget Planner" calculator for assistance with your overall budget.

 
Item Estimated Cost / month
Disposable diapers
Clothes
Formula/food
Child care
Photos
Toys
Medical Insurance for you and baby
Medical bills (co-pay or uncovered expenses)
Life insurance for parents
Education savings plan contribution
Monthly savings contribution
Miscellaneous