Small Bundles, Big Money

⇒ Costs

Care

Family

Yes, babies may be tiny, but they come at a big price. As if financial worries were not already a problem, many people do not feel that they can afford to care for a baby. This may be true in some cases, but there are ways to minimize the cost. If everyone were to wait until they were completely financially sound before having children, there would never be new bundles of joy in this world. Of course, you still have to make this decision within reason. You don't want to just go for it if you are in serious debt. Otherwise, I say don't worry too much about cost; things sometimes just find a way of working out. Below are a list of typical expenses and tips on how to save money.

Initial or One-time Expenses

• car seat
• cradle and/or crib, and bedding
• changing table
• bottles, breast pump (optional)
• baby monitor
• stroller
• diaper bag
• blankets, burp pads, receiving blankets
• bath tub
• furniture (e.g., dresser, feeding chair, etc.)
• high chair
• playpen
• gate(s)
• safety material (e.g., socket covers, cabinet safety locks, etc.)

...The list can go on and on depending on the extent you wish to take it.

Recurring Costs

• clothing (i.e., onezies, pajamas, socks, mittens, hats, etc.)
• diapers, wipes, powder, diaper rash cream
• bath wash, shampoo, lotion
• Daycare

Money Savers

• breastfeeding; no need to buy formula or bottle liners every month
• cloth diapers
• have a baby shower
• reuse older sibling's clothing, toys, furniture, etc.
• have a family member babysit for little or no cost
• take advantage of baby registries
• don't miss out on complimentary gifts and money-saving coupons from retailers, hospitals, baby or parenting magazines, etc.

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