How Much Does A Baby Cost

Having a baby is something that must be carefully planned. A little angel coming into your home is surely a joy, but what you must know is that having a baby can be very expensive. Take note that the cost of having a baby starts from pre-natal care up to raising him until he is 17. So before you decide to have a baby, get to know first the costs involved in having one.

Typical Cost Of A Baby

The typical cost of a baby is $15,000 to $26,000 for the first year.

This price includes the following:

  • Pre-natal care ($1,000 to $3,000). This includes ultrasound and other tests, prenatal vitamins, food, and the like.
  • Delivery ($5,000 to $12,000). The lower range is for normal delivery while the upper range is for caesarian delivery.
  • First year costs ($9,000 to $11,000). This includes diapers, formula, baby gear, clothing, healthcare, childcare, etc.)

How Much Does A Baby Cost Per Month

To give you an idea on how much you have to prepare for your baby every month, we have listed how much a baby cost per month. This, however, refers to the first-year costs only.

  • Formula. This is usually the biggest expense per month when you have a baby. This can range from $75 to $100 per month. If you breastfeed, you can expect not to pay anything for this category.
  • Diapers. A newborn baby may need eight to 15 diapers a day. For a whole month, this can cost $60 to $115.
  • Healthcare. A visit to the pediatrician is always necessary for a newborn baby. You can allot $25 to $50 per month in this category.
  • Miscellaneous. Other things you have to consider when dealing with a baby include baby lotion, oil, powder, vitamins, soap, and the like. Allot around $50 for these things per month. You may also need wipes ($15 per month) and baby detergent and dishwasher soap ($15 per month).

Check out this summary of monthly expenses for your baby:

Formula $75-$100
Diapers $60-$115
Healthcare $25-$50
Miscellaneous $80
TOTAL $240-$345 per month

Factors That Affect The Price Of A Baby

Insurance. Your health insurance coverage can greatly affect costs here, especially when speaking of pre-natal tests and delivery. You will likely pay half or less than half of the total cost of having a baby here. Say or example if you are covered by medical insurance, you will likely pay $2,000 worth of out-of-pocket costs for a normal delivery.

Delivery. The way you deliver your baby can basically affect prices here. A normal delivery can start from $5,000 to $8,000 while a caesarian delivery can already cost double.

First year expenses. The living expenses for your newborn have a lot to say with the cost of a baby. Your choices here can either make the cost of a baby higher or lower. For instance, your choice of diapers can have a big impact here. High quality diapers can cost double the amount of ordinary ones. The same is true for your choice of toys, clothes, gears, and the like. If you can get old clothes and not rely on new clothes for the baby all the time, the cost will definitely go lower.

Location. Your geographical location can also affect prices here. In areas where the cost of living is high, expect that baby costs will be high as well. This is as compared to living in rural areas where the price of baby items, healthcare, childcare, and other essentials are cheaper.

Additional Costs

Getting ready for the arrival of a baby can be a hard task, especially for first-time mothers. Hence, childbirth education may be necessary. This works to prepare the mother for the baby and educate her when it comes to delivery, breastfeeding, and childcare. Childbirth education may cost $50 to $200.

Maternity dress can also be an extra cost when having a baby. Though not usually high, this is something that you must prepare for still.

The living expenses of your baby after the first year are not included in the price of having a baby quoted above. You can expect to spend $100,000 to $250,000 for raising a child until he reaches the age of 17. This includes foods, healthcare, childcare, education, shelter, transportation, and the like but does not include college education yet.

Photo by World Bank Photo Collection

Tips Before You Decide To Have A Baby

Prepare your finances first. Take note that having a baby can cost a lot of money and the best way to conquer this problem is to be prepared with your finances. Start saving up and make sure you have enough money to cover all the expenses when having a baby. This will not only make your life smoother but also make your baby’s life better.

You may want to get rid of your excess debts so you can very well prepare for the coming of your little angel. A budget that is free from debts can help you start over with your baby.

Take note that baby costs differs from one person to another. So, you may want to know actual costs in your situation prior to having a baby. You may ask friends and family members who have recently had a baby and check out how much it is costing them from hospital bills to daily expenses.

Get a good healthcare coverage to prepare for your pregnancy and delivery. Know your current healthcare plan and see whether it is enough or not to cover baby costs. If it’s not, consider switching to a better insurance coverage plan.

Emotionally prepare yourself for having a baby. This must be true for both parents. A well-prepared couple can better take in the responsibility of being loving and caring parents for the baby.

Understand that having a baby is not a one-time thing. The cost extends for several years after he is born. Hence, make sure you are prepared mentally, financially, and emotionally for your child and the responsibility it entails through the coming years.

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