cost of babies

[Thorin]

Yeah, "baby" isn't an expenditure, it's an ongoing financial drain.  Every time you think you've caught up, something new comes along.  Ask Lazy

There are some initial big ones. The ongoing expenses I'm sure we can handle baring some strange health or special needs stuff. (not expecting anything, but given family history, its possible)

Thought I'd start a new thread for this rather than pollute the existing one about the Breath of the Wild.  Note this is a public thread so I'm making sure not to post personal details.

http://www.moneysense.ca/save/financial-planning/the-real-cost-of-raising-a-child/

The estimate is about $13k a year for food, clothing, shelter, mandatory school costs (K-12), and childcare; all averaged over the eighteen years of their life as a child.  It does not include money that has to be saved up for them to go to post-secondary school, nor any consideration of sports or camps or vacations (like travelling overseas to visit in-laws).  If childcare is avoided, then it's about $9k a year averaged over eighteen years, but then one of the parents will likely have to not work to take care of the child for the first dozen years.

From my personal experience, I'd probably have about $30k a year more to spend on myself if I didn't have kids, assuming that I lived in a one- or two-bedroom apartment condo instead of a house.  I haven't done the detailed math, but it's about $450k so far since my first child was born.  But I probably would've still spent that money on a house, so it's more complex to compare.

Start-up costs with a new baby will likely run $2k - $3k (crib, bedding, rocker chair, baby monitor, car seat, stroller, high chair, swing, various infant toys, clothing) and then continue above $300 a month (diapers, baby foods, larger clothing, more infant toys).  So easily $6k for the first year.

Second year, the toys have to change up to stimulate their minds (don't forget books) and they're walking; they still need diapers (which cost more due to larger size) and there's a gradual switch from the baby foods to toddler foods (hopefully they're not picky) that are almost normal.  Probably $400 a month, but no large outlays yet.

Third year, it's time to move to a big kid bed ($400+), maybe time for a first bike ($60?), probably starting in diapers and ending in just pull-ups for naptime; still $300 a month because of their bigger appetites and continuously needing larger clothes.

And there's talk about getting a car so getting out with baby is easier, right?  So that's $5k for the car plus $200 a month for insurance.

I'm not trying to scare you, I'm trying to give you a realistic view of what to suggest so you can prepare for it.  And I think an important part of that preparation is to realize that you won't have very much money available to spend on things you want.

[Tom]

We already have some baby startup supplies. Mom bought a crib, playpen/change table/etc, and stroller+carseat.

I know the baby is going to be "expensive". I think we can manage to save up though. The amount I make is pretty liveable even with a baby/child. And should allow for savings and /occasional/ personal wants.

That's even before Mila gets a job. Which won't be right away (couple years?), so I'm not going to include it in initial calculations, but it will become a factor.

[Lazybones]

Some costs can be minimized by donations / swapping with family or friends that have left over stuff. Look on second hand sites for strollers etc.

Kids initially grow out of things before wearing them out so small stuff is easy to get.

Diapers are an expensive and disgusting problem that ether cost you more money (disposable) or more much more effort (cloth).

[Darren Dirt]

Other than early baby clothing and furniture etc I must declare that Macklemore was right. My kids have felt no shame in getting most clothing (and board games oddly enough) from thrift stores. Other than socks and undies of course. Having that option saved me literally thousands per year (ok maybe like 0.5 thousands some years)

Clothing can grow without limits if your kids get an "attitude" early on like some I remember in elementary school even... Those poor parents.