Financial planning for baby

If you’re planning to have a baby now is the best time to examine your household earnings and expenditures. I’m learning first hand that having a baby can really put a dent in your wallet. Our little one isn’t due for another two months and I can’t believe what we’ve spent so far.

Getting the nursery ready included new paint, carpeting, decorations and furniture. Maternity clothes — from sweaters and jeans to PJs and office wear (holy cow…have you ever seen maternity underwear!?! Not good.) I treated myself to a full body pillow and a couple of extra cleanings at the dentist. Books for both me and my husband on baby names, breastfeeding and baby care. We registered for a childbirth education course and hired a doula to help us during labor and delivery. We’re ordering close to seventy birth announcements not including postage.  Little newborn under shirts and onesies, diapers, wipes and just a ton of unexpected accessories. And how much is college tuition going to cost in 18 years?

According to Rosetta Jones, a vice president at VISA USA, “the smartest thing you can do is sit down before you have your baby and map out a financial plan.” Click here to check out their baby budgeting calculator. If you plan ahead, these new costs will be easier to manage.

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4 Responses to “Financial planning for baby”

  1. News Moms Need » Blog Archive » Financial planning for baby | Baby-step Says:

    [...] is the original: News Moms Need » Blog Archive » Financial planning for baby Tagged and categorized as: Baby care, Baby names, baby health , Baby names, books, [...]

  2. You Are Parenting » Financial planning for baby-Pregnancy, Babies, Birth tips information and more Says:

    [...] Financial planning for baby [...]

  3. Jenny B. Says:

    You know how they’ve proven that you don’t really have to eat for two when you’re pregnant? That actually you only have to eat for 1 plus a small fraction of 1, well you definitely have to spend money for at least 2! That is for sure.

  4. Becky Says:

    I have written a book about this! How to Afford Time Off with Your Baby (Vermilion Sept 2009) has 101 tips and ideas to help ease the financial strain of a new baby. I also have a blog about baby budgeting. Creative idea, skill sharing, swapping, savvy selling and smart shopping and a community of support around you and this can be done. I have now had 5 years off with my babies and am on a v low budget,

    Good luck everyone

    becky Goddard-Hill

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