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.
Tags: baby budgeting calculator, baby care, baby names, birth announcement, body pillow, books, breastfeeding, budget, carpeting, childbirth education, college tuition, debt, dental cleanings, diapers, doula, economic crisis, expensive, financial planning, financial stress, how much do babies cost?, maternity clothes, money, newborn care, nursery, onesies, paint, shopping, starting a family, VISA, wallet
December 21st, 2008 at 8:21 pm
[...] 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, [...]
December 22nd, 2008 at 8:40 am
[...] Financial planning for baby [...]
February 3rd, 2009 at 12:45 pm
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.
May 28th, 2009 at 3:46 am
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