ballpark cost per month for your first baby?
anssett
member
My fiance and I are planning to start TTC this summer. We're also starting to sock money away for our first house (in 4ish years so a fair amount of time to save). With holiday bonuses and impending raises I'm starting to get organized and create specific accounts to get prepared. However, I have no idea what realistic monthly expenses for a baby are in Seattle. (and I don't have any friends with young kids!)
I've looked at childcare costs in the area and they seem to be in the 1500-2000/month range (for centers and some nannies). Is that accurate? Also, do you have a sense of what your other monthly bills went up by once you had a baby? I know there'll be a big start-up cost. From what I've read that's in the ballpark of 3-4K.
I am lucky enough to have great insurance that covers pretty much the whole pregnancy with mostly 0 co-pays. Dependent insurance rates for my plan I have.
Am I forgetting anything? Thanks for the input.
Re: ballpark cost per month for your first baby?
You can put money for childcare into a pretax account max 5k. Good thing you factored that in.
Stuffwise, baby needs a place to sleep and diapers, sleepers and blankets. You will need bottles and a pump for going back to work. A breastfeeding pillow, stroller/carrier, swing/bouncy chair are nice to have, and you will need a carseat. Most everything except the carseat and crib if you choose to have one, you can get used.
I think you've thought of most major expenses. Might be a good idea to write your wills, power of attorney, and check your life and disability insurance to make sure it meets your needs with a child. Those things can get pricey.
Other maternity related costs mostly optionalclothes, birth classes, yoga, doula, vitamins, photos maternity and/or newborn. Good luck!
I haven't given birth yet, but just wanted to share some of those other costs with you. if you use a doula, most around the area are ~$1,000 give or take a couple hundred.
We were lucky enough to receive quite a few big items from family members, but still spent ~$2,500 on stuff we needed to have for the baby (stroller to crib to diaper cream) and it would've been easy to spend more.