August 2012 Moms

Budgeting with a baby

DH and I have had a monthly budget ever since we got married. Now that our first child will be here any day, it's probably best we start budgeting with her costs in mind, too! Anyone have suggestions on websites/books or from personal experience on how to estimate costs at least for the first year?

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Re: Budgeting with a baby

  • We just updated our monthly budget this week.  We use Mint.com to keep track of everything and it is really easy to use.  I plan on breastfeeding so our major monthly expense would be diapers.  I set our first months budget for our baby to $250 and after the first month i'm sure we'll need to change that number based on how much money we are actually spending. 
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  • For DD, we budgeted $150 a month for her stuff. I EBF and SAH, so the big expense was diapers for us as well. But any month that we didn't spend all of the money, we rolled it over to the next month so we had extra put away for baby purposes. So some months we did spend more than $150, but on average for the year, that was a good number for us. HTH!

     

     

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  • My kid is 2 now, and I blow my "kid stuff" budget every month on him. I thought I could keep it to $50 (not including diapers) but $150 is probably more realistic. It's little things like sippy cups, bounce house trips, new clothes and shoes, etc.
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