What is a realistic baby budget?

by Naomi
(NY)

I am going to have a baby boy this summer and we have been saving up for the added expenses. While we have a little bit in savings, I would like to know how much we can expect our monthly expenses to increase. I know diapers are a big expense, so I'm considering cloth diapers. I think I'm going to breast feed, so that should help, too. I'm hoping to get some equipment and clothes for baby shower gifts, but I know we probably won't get all that he needs.

What is a realistic monthly budget for us? What are some ways that we can save money?

Laurie's Answer:
I'm going to request some input from other moms here. I'm afraid that my baby budget doesn't count because we already have so much of the clothes and equipment in place. I can say, however, that you will save loads of money by breast feeding (not to mention all of the health benefits of breast feeding for both of you).

Don't go crazy on buying tons of clothing since babies grow so fast. You might find he has outgrown something before he has worn it twice. For this reason, buying second hand makes sense because much of the smaller sized clothes haven't been worn enough to look used.

Your biggest expense most likely will be medical costs associated with the birth. This will depend, of course, on what kind of health insurance you have. Check with your obstetrician or hospital to get an estimate of what to expect, and then call your insurance company to get the details.

I'm guessing that if you breast feed, don't need day care, and use cloth diapers, your monthly costs can't be more than $100 per month for the first 6 months (and probably a lot less than that). "One time" costs for new equipment and nursery items can run you from about $800 to...well, the sky is the limit!

In the end, babies can be relatively inexpensive if you are willing to forego some of the "bells and whistles" (like the name brand clothing and video monitors). It all comes down to choices.

Congratulations on your upcoming bundle of joy!