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Every expectant parent should be mind- ful of the all-inclusive costs that come with welcoming a newborn, from hospital bills to baby food. But what should you anticipate the price tag to be? The expense of raising a child for a middle-income family can exceed $12,000 to $15,000 annually, according to the Department of Agriculture.
closely, props to you. Certainly there is going to be an adjustment to your lifestyle, but you likely have implemented a budget and are anticipating changes to household spending. On the contrary, if you haven’t been care- ful with managing expenses, you will need to make a change before your baby’s debut. To help keep spending in check, while pre-
paring for your baby’s arrival, focus on only necessary expenditures. Group expenses costs, feeding your baby, keeping your child clean and clothed, keeping your baby safe and
Managing Immediate Medical Costs for doctor’s fees, hospital stay, delivery and postcare. Don’t hesitate to talk with your in- surance company and hospital billing depart- ment ahead of time. Find out what’s covered though insurance and what’s not. Ask how check-ups and hospital expenses will be billed. Make sure everything falls under in- network providers. If you’re concerned about the number of bills, make payment install- ment arrangements with providers. And if it’s spending account (FSA) or health savings
Feeding Considerations The cost of formula adds up, so nurse if you are able. In addition to its many other ben-
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breastfeeding, you will need a pump and the equipment can be costly. Consider borrowing a breast pump and only buying new plastic attachments. When you leave the hospital you likely will be given formula and other food samples for your baby. Hold on to them as they will be useful when your child gets a bit older. And when your baby starts to eat solid food, you can make it yourself. In addition to feeding your child cereal, you can give your baby vegetables that you steam and mash. This allows you to keep a close eye on the nutrients your baby receives, and help keeps money in your pocket. If you absolutely need it, buy in bulk instead of indi- vidual packaging. For more savings, sign up for newsletters or services like Amazon Mom where you can receive valuable coupons.
Cleaning and Clothing Your Baby Diapers will be one of your larger expenses — some estimates put the cost at $600 annually. Buying in bulk can save a lot. With clothing, remember that your baby will grow fast, so look for options in secondhand stores and don’t hesitate to take hand- me-downs from friends or family. Besides looking into secondhand markets, websites like
Freecycle.org provide exchange platforms within your geographical area. Through local items, but also may connect with fellow new parents to exchange tips and advice.
Keeping Your Little One Safe Sure you want to have the cute coordinated nursery, but if you’re worried about the cost, stick only with the necessities. You need a safe crib and mattress, but for the get by with a bassinet. Other than that, you
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