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Budgeting A Baby: How To Prepare For Your Baby’s First Expenses

July 8, 2008

Now that you have a newborn on the way it is time to get serious with your finances and create a plan for budgeting a baby. These amazing little bundles of joy come with a huge price tag, literally. This price tag includes the following expenses that you can prepare for by shifting around your current spending, and creating a strict budget:

New Baby Crib

Budgeting a baby means putting aside enough money so that you can buy the necessary items that your new little boy or baby girl will need. A new baby crib should be at the top of the list. And notice that I advise a “new” crib. Do not try to cut corners by getting your newborn a used one. Yes you may save a few dollars but considering that the safety and comfort of your little gem is of utmost importance, budget the extra money for a top-of-the-line crib.

Car Seat

Equally as important as a new baby crib when budgeting a baby is the purchase of a car seat that can safely fit your newborn while you are traveling in your car or van. And I cannot stress enough the importance of spending a little extra so that you can get the highest quality product available. Your baby’s life may depend on it. No, scratch that, you baby’s life will depend on it!

Food & Diapers

So far on your plan for budgeting a baby the major necessities are expenses for a new baby crib and a safe car seat. And of course you have the costs of food and diapers.

Baby food and diapers are expenses that your budget should plan differently for. They are not one-time purchases. Your budget should include ongoing allotments to take care of food and diaper needs for the long-term.

The cost of these items depends on several factors. The brand you choose will either be less or more in terms of price. With diapers, you may be able to go with a less expensive solution and it will probably not make much of a difference to your baby.

Food is another choice. You could spend less on bulk items or spend more on organically prepared baby food. Whatever you decide, consider the total weekly amount and budget for the first 12 months. Always keep in mind that your baby will be eating more and more food and will eventually be able to share the food that the rest of the family is eating. This may increase or decrease the amount you pay for baby food over the long-term, depending on your choice.

Final Tip

Budgeting a baby obviously includes more than just the few items as listed above, but this is a good starter plan to get you prepared. And always consult with your doctor on how much food your baby will need.

Lastly, I will mention this one more time: For baby products like baby cribs, car seats, strollers, etc., never sacrifice safety over cost.

Written by admin · Filed Under Budget Help 

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