The Ultimate Guide To Understanding Baby Costs
Having a baby is once in a lifetime experience; the joy and pleasure of having a baby cannot be explained in words. But before you plan on having a baby, you should know how much does it cost to have a baby in 2020. Plan everything accordingly, so that you are not hit by any surprises and can live the occasion with a peace of mind. In this article, we are going to briefly tell you all the baby expenses that you can expect while having a baby, along with some tips which will help you save money.
How Much Does It Cost to Have A Baby: All Baby Expenses?
If you are planning to have a baby, and are confused about how much money you are going to spend, then you have stumbled upon the right article. The following are some of the key baby expenses that you are going to meet when you have a baby.
The very first expense that has to meet is the delivery cost. Most of the mothers will have delivery in a hospital. And before they even have a delivery, there will be multiple doctor visits and ultrasounds. And during the delivery, you need to stay in a hospital, so count the fee for a hospital stay in as well.
Now, the total cost of having a delivery depends on your location. Different countries will have different delivery costs. However, if we talk about Australia, the average cost of vaginal birth is A$9,000, and the average cost of a C-Section is A$14,000. And we are not even talking about the cost of different tests, prescribed medicines, doctor's fees, etc.; all of them are additional expenses.
If you are a couple living in a one-bedroom apartment, you are definitely going to need some more space for the baby. The babies love to crawl and move around, and upgrading your living space will be the best decision for them. Also, the baby is going to need his own room with a crib. So, you should think about saving some money for a new home if you are planning to have a baby.
Every parent wants to give their child the best facilities, and babies do need a lot of things. The following are the most important baby expenses that should be in your mind.
Car seats and Strollers: You cannot stop going outside, right? So, having a baby stroller is a must. The prices for these strollers vary depending on how fancy you want them to be. But you will get a good stroller (that meets all the safety requirements) somewhere between A$300 to A$400.
Diapers: A baby needs 6 to 8 diapers in a day, so the cost could add up to A$100 a month and A$1200 a year. However, you can save some money by buying diapers in bulk from big stores that offer discounts.
Baby Food: Apart from milk, you are also going to need baby food for the proper nourishment of your baby. And this baby food is going to cost you somewhere between A$150 to A$300 per month.
Baby bottles: Baby bottles are one of the most important baby expenses, and a single baby bottle can cost you somewhere between A$10 to A$25.
Baby Clothes: It can be really tricky for the parents to decide how much would be best to spend on baby's clothing. Obviously, you would want your baby to look adorable, but you also know the fact that he will outgrow these clothes in months or even weeks. So, if you want to stick to essentials, you can easily buy baby clothes for A$100 to A$120 a month, and as the baby grows older, this baby expense will gradually go down.
Toys, nursery, and furniture: A baby's daily routine consists of sleeping, playing, and bouncing here and there, and you would require some gear to make his routine lively. So, one of the most important baby expenses consists of toys, nursery, and furniture. Your priority should be investing in your baby's furniture like a crib, high chair, bassinet, etc. When it comes to toys, stuff toys will do fine.
Baby Sitting and Day Care: If you are a working parent, then you are definitely going to need a helping hand to take care of your baby. Some parents are lucky to have grandparents to take care of the baby while they are away. However, if you don't have this luxury, then daycare is going to cost you somewhere between A$85 to A$129 a day depending upon your location. But there is good news as well; the government provides a subsidy to eligible parents which can help take some burden off their wallet.
Ways to Save Money
You might have had a bad start while saving money in the past, and that is completely fine. But now that you are planning to have a baby, you need to give you the best shot to get your budgeting game on the top. The following are some tips that will help you to lessen your baby expenses.
Consignment/Thrift Stores: We all know how quickly babies outgrow their clothes, so it wiser to buy clothes that are slightly used, or you can even find new items at the local consignment or thrift shops. Many of the clothing stores even buy the outgrown clothes, so that other parents can buy them for less price. You will also find various parent networks online that provide quality clothing for less price; some even give them for free.
Family/Friends for Back-Up Daycare: By now, you know that daycare and babysitting are not cheap. If you are a working parent, you can ask your friends or family to take care of your child on emergency days (baby's sick days). This will help you save a lot of money, and you will not have to take a day off (probably without pay).
Borrow Items from Friends: It is always very good to ask your friends who have young kids to borrow their items, especially baby furniture that is currently not in their use, like a crib, high chair, etc.
There is no doubt in the fact that having a baby is going to cause additional expenses. But, if you stick to necessary essentials and look around for discounts and deals on all the baby expenses, you can manage to have a baby without going out of the box. So, take your time to think where to spend your money, curate a budget and strictly stick to it, only then you will be able to enjoy your baby without any financial stress.