financing our baby

amother

Sun, May 20 2007, 10:11 am

I know this topic was dscussed in another thread but everyone who answered lived in Israel and I live in the tri-state area and the finances dont match.
I would like to get a rough estimate of how much our baby will cost us in the next year (I am pregnant with #1).
I am specifically looking to see how much you spend a month on Diapers, formula, nanny/childcare, clothing, medical care, entertainment (books, music, mommy and me), Furniture...and anything else I probably dont even know about.
My husband and I both work at professional type occupations so we are planning on getting full time help. How much will that generally run us? How do I begin to look for a nanny and what must I provide for her in terms of extras and benefits? (I heard that some nannies expect this) I am just trying to get a resalistic perspective on what we could possibly expect.

dr pepper

Sun, May 20 2007, 11:25 am

diapers-you can buy store brand which will run around $30/month or premium brands which are double, or cloth.

medical care- depends on your copays. the baby has 6 well visits in the first year. and hopefully nothing more than that.

formula is expensive, like at least $60/month. but you can bf/pump for free.

clothing- depends if you want to outfit your child in brand names which is highly unneccesary. buying from run of the mill stores like old navy and children's place, maybe $200 a year? but the blankets, towels, and all the extras can run you another $100 or so.

entertainment- classes are really unnecessary. I don't even know how much they cost because I never went to one. but on toys and stuff I think I spend less than $100. most things I got as gifts.

furniture- if you're not going to cosleep, your baby needs a crib. matching sets of furniture are nice, but not necassary. the children can ruin them as toddlers anyway. more expensive doesn't necessarily equate better or safer or anything. you can find cribs that cost $100, or conversely, cribs that cost $1000.

same goes for the carseat and stroller. you can get a graco combo for about $200, or a bugaboo and britax for over $1000. keep in mind that if you get the infant seat combo with the stroller, while convenient, you still need to eventually buy a convertible carseat which is anywhere from $75+ depending on the brand.

there's a lot more I'm not even thinking of now... because I'm so tired... but babies are pretty cheap you know. it only gets more expensive as they grow up and need and want more things.

amother

Sun, May 20 2007, 6:50 pm

It depends on what you buy. I spent $2500 on my baby furniture, and that included a crib, changing table and armoir. For the ottamon and glider I spent another $595. Plus the bumper set ran us about $700. Obviously you can get cheaper, it is up to you.
The same thing with clothing, personally I like my kids to look nice, but everyone is different. For school I will dress them in Gap but on Sundays and out of school they have nicer and more expensive outfits.
You have to figure out your budget and what you want to spend on and what not.

amother

Sun, May 20 2007, 7:16 pm

amother wrote:

you realize that what you described is way above the average budget? Confused

I don't see how your post can help OP in any way, unless she is very well off.

oh, and by the way, for most of us, Gap clothing IS considered 'nicer, more expensive outfits.' Surprised

MommyLuv

Sun, May 20 2007, 7:24 pm

dr pepper wrote:

sounds like you covered all the bases... Thumbs Up

bashinda

Sun, May 20 2007, 7:28 pm

and with my first I didn't buy any furniture whatsoever aside from the crib. none. okay a glider would have been nice but I used the couch. I noticed my SIL with ka"h a large family was also using the couch. Not that a changing table isn't nice but it's not necesary. With my trips I bought one of those diaper organizers for one of the cribs and a changing pad which I hardly ever use! Its the couch or the crib so far. I use the pad for really messy changes.

SingALong

Sun, May 20 2007, 8:22 pm

ok no one mentioned nanny costs yet so I'll give u some idea. I'm in master's school and I travel far so with my erratic hours, I wanted a live in. they can be about $350-400 a week, depending on hours. they also clean usually, especially with just 1 baby around.
it works out cheaper than to pay per hour, which can be $10 an hour or more, especially if u want someone reliable.
I know ppl in manhattan can pay $400-450 a week for nannies, and that's with no cleaning, just childcare. prices can also vary depending on where u live and type of babysitter.
I think that daycare may work out the cheapest.

Raisin

Mon, May 21 2007, 6:37 am

shayna82 wrote:

last amother, op said they both have profesional jobs... im sure they rake in a nice amount, so in essense, that budget may very well fit her lifestyle...

Even with both parent having good jobs, don't forget in a couple of years you will need to start paying tuition.

Quote:

personally I like my kids to look nice

My children look lovely, thank you, even without designer clothing. I'd rather they learnt that money is not to be spent on expensive clothing, but rather for things like schools, tzedaka, etc

suomynona

Mon, May 21 2007, 6:48 am

Raisin, I don't think anyone asked for a mussar shmooze on what is necessary and what is not.
OP asked for information on how much things cost. I'm sure she is an adult and can decide for herself what she considers important and not.

sorry if that came out sounding mean, I just feel like lately on this site people have to justify spending more than person x on something even if they can afford it. otherwise they are irresponsble and materialistic if they're not giving all their extra money to tzedaka etc.

ETA: Raisin I just realized the 2nd post isn't from you, where the poster lists all the items and what is necessary and not necessary. So this post isn't just to you specifically.

Raisin

Mon, May 21 2007, 6:57 am

I wasn't responding to the OP, I was responding to another amother. I was also reminding the OP, that however comfortably financially they feel now, once they have kids in school, they may be struggling. They may prefer to spend less on things like clothes and expensive cribs and save up that money for the future. Of course there is a minimum you will need to spend on clothes to look mentchlich - but for most occasions designer clothes are unncessary (and wholly wasted on a baby. He or she will appreciate expensive clothes when they hit the teens. Save it for then)

amother

Mon, May 21 2007, 4:52 pm

OP here- THanks for your input. I am definitley keeping in mind that tuition will start piling in and that money will get tighter and tighter. Regardless of money, I am thrift store shopper, becasue I think it makes sense and I love the thrill of the find. I plan on shopping the same way for my kid. However, there are expenses you cant help and thats what I was wondering about.

Raisin

Mon, May 21 2007, 5:07 pm

Also, depending on how many friends and relatives you have, don't buy too many baby clothes because people will give you gifts. You can exchange the newborn sizes (which they will grow out of pretty quickly) for larger sizes. And when buying clothes try and get in gender neutral colours, when possible - so that you can save them for the next baby. I love putting newborns in white, especially since once they hit 6 months or so you can forget about that colour for another 15 years or so.

I also never had a changing table. I use the spare bed that is in the baby's room, or my bed, with a changing mat.

cdawnr

Mon, May 21 2007, 5:13 pm

Just watch out about changing on the bed as it can be hard on the back.

I haven't had a changing table for the last 10 months and change the kids on the floor...but now that I am 6 months preg I amhaving trouble with that effecting sciatic nerve...anyway, just thoughts on the other posts.

YOu can supply for baby pretty cheap by differentiating between NEEDS and WANTS. The baby doesn't need nearly as much as our consumer driven society lets you think.