How much do infants cost every month, I have a $2500 budget?
My wife and I are in our mid 20′s and are planning our first baby.
We have $2500 left over every month for a baby after everything is paid for. (Our house mortgage and cars will be paid off BEFORE the baby is born.)
How much will a baby actually cost us monthy?
My wife is working part time and we will pay her mother $300 a month to watch the baby and clean.
Childcare: $300
Insurance: $0 (No change to my premiums)
Monthy doctor visit: $10 co-pay
Formula: $0 (wife wishes to breastfeed)
Diapers: $?????
Toys: $????
What will we need to pay for?
I am worried about money because I hear that children are SO expensive.
Thanks
Children ARE expensive, trust me I have an 11 yo son and he “needs” everything. Her are some basic costs for where I live(NH).
Childcare…$300per week
Doctor…….$10 co pay(each time you go)with a new baby it is usually weekly.
Formula….$0, unless your wife cannot breast feed and some women cannot.
Diapers….$35 per week.
Toys………$depends on what u buy
Clothes….$unlimited…they grow out of stuff sooo fast!!
Medicine/prescriptions..$depends on what you buy and how often
There are many more expenses involved, like furniture, swing, car seat, stroller, highchair…etc.
I wish you all the luck in the world!!
Kelley
Filed under Home Insurance by on May 2nd, 2010. Comment. 