Budgeting for a Newborn

[Deleted]

So I have decided to create a post-baby household budget because I think DH is being unrealistic about the baby expenses. He thinks that I just need to add $100-200 more to our current budget for diapers and formula. 

But I don't know where to begin. What do I need to account for other than diapers and formula? I know that formula can be more or less expensive depending on if I breastfeed or not, but what would be a realistic $ amount to assign for it?

[Deleted]

Daycare, duh, how could I forget that!

[CrazyLucky]

If you are talking about JUST the newborn stage (up to about 6 months) your DH is right. Assuming you have all the one time items ahead of time, like the crib and changing table and carseat. The maintenance costs are just diapers, wipes, maybe some bathsoap (one bottle lasts forever!). Depending on your insurance, you may have to pay for checkups. I think most insurance plans cover well baby visits entirely.
I don't have any idea about formula though...

Once the baby gets older, it's more expensive. Daycare is the big one. Clothes, shoes, food, the next carseat, more medical bills...

[Deleted]

DH also thinks that we should wait till the last month to buy the baby gear (carseat, crib, etc) and to buy the clothes as needed after the baby is born. I have a feeling that this is a stupid idea.

[bowies]

Don't wait on the crib! Depending on what you want it can take months for it to come in. Of course, if you plan on using a PnP or RnP at first I suppose that's not such a big deal.

We've spaced out the big purchases over the past few months and then thrown some money into the "baby" account (which is really just my personal checking account) so in June we can buy all the crap we registered for but didn't receive.

[Deleted]

Apr 3, 2014 14:18:07 GMT -5 @peggyolson said:

 Plus, she spit up on so much we ended up cycling through what seemed like a million sleepers a day. Buy enough clothes in NB & 0-3m sizes that you are comfortable for a few days. 

Apparently babies need only 1 outfit a day and so we would be fine with 7 outfits since we do laundry once a week, according to DH 

[bowies]

Is it wrong that I want to be a fly on the wall at your house when your H comes face-to-face with newborn reality?

I'd add in a budget line for clothing/undies for you as your body changes. And some extra cushion for when you spot cute baby stuff while you're out and about.

[Deleted]

Apr 3, 2014 14:34:13 GMT -5 bowies said:

Is it wrong that I want to be a fly on the wall at your house when your H comes face-to-face with newborn reality?

I want to be a fly in the wall too, so that I don't have to deal with his ridiculous ideas.

He wants to trade in his 2-seater sports car for a 4-seater 2-door sports car. He really believes that he can fit a rear facing car seat here. 

[pinotgrig]

In addition to everything else mentioned, don't forget about co-pays for dr's visits for when the baby gets sick.

Definitely order your crib now - we ordered ours on 2/1 and are still dealing with delays.

Daycare is a biggie! I can't see how far along you are, but when we started looking around 15w, there were already waiting lists for June.

I have a mental checklist of things I want at our house before the baby comes - diaper genie thing, diapers wipes, bottles, pacifiers, lots of clothes, boppy, car seat, etc. all the things I don't want to have to realize I need at 2am.

[pinotgrig]

To answer your question more directly, we added $1500 to our budget for monthly baby expenses. $1k is daycare costs and the $500 is for everything else. It's probably high, but we felt comfortable expecting the worst from a budget perspective.

Also, keep in mind that some babies end up having to use $$$ formula.

[Deleted]

Apr 3, 2014 14:30:08 GMT -5 @porcupine said:

Apr 3, 2014 14:18:07 GMT -5 @peggyolson said:

 Plus, she spit up on so much we ended up cycling through what seemed like a million sleepers a day. Buy enough clothes in NB & 0-3m sizes that you are comfortable for a few days. 

Apparently babies need only 1 outfit a day and so we would be fine with 7 outfits since we do laundry once a week, according to DH 

LOL. Does he realize that some babies who spit up a lot go through like 10 burp cloths a day? That was our experience.

[thatgirl2478]

Apr 3, 2014 14:51:57 GMT -5 @porcupine said:

Apr 3, 2014 14:34:13 GMT -5 bowies said:

Is it wrong that I want to be a fly on the wall at your house when your H comes face-to-face with newborn reality?

I want to be a fly in the wall too, so that I don't have to deal with his ridiculous ideas.

He wants to trade in his 2-seater sports car for a 4-seater 2-door sports car. He really believes that he can fit a rear facing car seat here. 

My DH has a 4 door, 4 seater Ford Fiesta and sure you CAN fit a rear facing car seat it in, but not with another human in the front seat... at least not a human my size (5'5 - so nothing outrageous). 

[ringstrue]

Yeah I would say prepare to go through like 5 outfits a day just to stay on the safe side. But then you'll have other linens like burp cloths, changing pad covers, sheets, etc.

Kid will need a new wardrobe like every 3 months or so at first. I think at 4+ years old we are more seasonal, but that's a rolling wardobe overhall 2-3 times a year. Then you'll have seasonal wear like jackets, dress up outfits, swim/beach stuff, etc.

Diapers are not the huge deal people make of them especially if you do COSTCO/BJs or Amazon Prime and also go with generic store brands or luvs. The smaller sizes are cheaper per diaper anyway. Its the 2.5+ year old sizes that are annoying pricey.

I can't even describe how many things you end up getting just because you don't have anything like that yet. Like - all their toys need to be gotten somehow. Oh and furniture to put all these toys in. I hit up the consignment sales a lot in the first few years. And a lot of times you just can't wait until a birthday or christmas. That's gradual though so nothing to worry about now - but it creeps in over time.

RE: things like the car - I say its best try out a carseat in it our measure it - get someone else to tell him that he is crazy too and he just may listen. My DH was like that at first too and getting someone that wasn't me to tell him he is nuts usually did the trick

[ringstrue]

Oh also - medicines. If you are super budgeter - I'd budget $10-$20 extra a week in groceries just for OTC first aid things or OTC meds. I switched thermometers a few times early on, or you may find you need a special baby shampoo or soap or sun screen that week. Or it could end up being something you need the first few weeks/months you are post-partum.

I really hate when people over-simplify expenses to the "big things" when usually the budget busters come from lots of little costs like that that add up.

[picksthemusic]

LMAOOOOO at your husband's estimates. Really, he's in for a good old dose of reality. I'm with the others who want to be a fly on the wall.

Everyone's got it pretty covered, though.

[Deleted]

We are not rich or anything but seriously the impact on our budget for things like diapers and wipes were minimal. Under 100 per month for sure. Thee was no real change to the budget until LO went to DC at 16w.

ETA:  I never need formula so make that is why.

[picksthemusic]

This is also a really great resource to tell you what to spend your money on and what not to spend, and where it counts. Also, it tells you what's necessary, what brands are better - it's excellent. Might be a good buy for you and something to show to your husband.

www.amazon.com/Baby-Bargains-furniture-strollers-maternity/dp/1889392448/ref=sr_1_1?s=books&ie=UTF8&qid=1396558215&sr=1-1&keywords=baby+bargains

[flgirl]

The first few months of a baby's life are as expensive as you want them to be. We have been really extravagant with clothes and equipment and not so much (the third was born at the beginning of the recession and my husband owns his own business that depends on the construction industry so the poor thing never had new anything.)

With that said: Diapers aren't that expensive in the small sizes. If you breastfeed, I kept a small can of formula in the house just in case but really didn't need much. Clothes, if bought on sale or clearance can be very reasonable. (Now, full season clothing shopping for 4 will be a different matter. We still find sales and go into stores with a budget.) Daycare costs will probably be the most expensive. Also, keep in mind that a lot of new gear and gadgets aren't necessary. Since we gave everything away 6 weeks before we found out abut this pregnancy we are really not buying much. I don't want to spend a fortune on gear to only use for one baby for a few months.

[pinotgrig]

Apr 3, 2014 15:51:09 GMT -5 picksthemusic said:

This is also a really great resource to tell you what to spend your money on and what not to spend, and where it counts. Also, it tells you what's necessary, what brands are better - it's excellent. Might be a good buy for you and something to show to your husband.

www.amazon.com/Baby-Bargains-furniture-strollers-maternity/dp/1889392448/ref=sr_1_1?s=books&ie=UTF8&qid=1396558215&sr=1-1&keywords=baby+bargains

Yes! This is a great suggestion! We used the heck out of this thing early on - all the brands and gear out there were so confusing to me. This book is thorough and reviews everything. And it's not just budget-priced stuff it covers - we've splurged on pretty much everything so far and this book helped us learn why it was worth splurging on. The furniture section was especially helpful to us.