(ThySistas.com) If every parent could predict the amount of money having a baby would cost them, they probably would have second thoughts. Happily, for the continuation of the human race, our desire to start a family becomes a little rose tinted and we procreate regardless!
Recent studies have shown that raising a baby to one year in age can cost a staggering $11500, $700 of which is spent in the first month. Where does all this money go? Your tiny bundle of joy requires an astonishing amount of equipment to keep them healthy and happy, which can mount up in cost.
Clothing
Your newborn baby requires clothes and lots of them. It’s astonishing the amount of outfits a baby can wear in one day. Think about all the accidents that occur (both ends!) 24 hours a day.
Healthcare
Depending on where in the world you live, you will want to ensure that the best medical insurance packages available are accessed to keep your baby healthy. Other costs include medication, housing and heating. Safety equipment installation such as stair gates, monitors and electrical equipment safety devices are also essential purchases to consider.
Transportation
The costs relating to traveling with your baby are considerable. If you own a car, is it big enough to fit the baby in it’s carseat, as well as carry the travel system you choose around? It may be necessary to swap your sporty three door car to a more practical family sized model. You will need to buy a car seat suitable for newborns and then factor in the cost of the next stage in car seat as your baby grows. The pram or travel system is another large cost, ensure you research a brand and model that will adapt to your growing baby.
Food
Obviously your baby needs food. Whether you choose to breast or bottle feed is up to individual choice. If you bottle feed you will need to consider the cost of formula milk, sterilising equipment and bottles, even if you breastfeed there is the cost of breast pumps, sterilising equipment and bottles if you want to share feeding on occasions. As your baby grows they will start to eat foods that are similar to ours, for convenience, branded foods made specifically for babies can be useful, which is an additional cost. Don’t forget the cost associated with washing all those bibs and clothes covered in carrot puree!
Childcare
Most parents consider returning to work at some point after starting a family. This could be in a full time or part time capacity depending on your financial situation. It may work out though, that the majority of your earnings will be spent on child care costs! Some companies offer voucher schemes to cushion the cost of childcare which can be very helpful.
These are some of the costs relating to raising a family. It is very difficult to plan for, but a little knowledge is helpful.
Staff Writer; Lisa Shaw