Not including any room decorating or novelties, such as extra car seat bases or snap-n-go strollers, you’re looking at approximately $4,260 in the first year ““ and that’s before pre and post-natal care for you, not to mention healthcare for your little one.
As you consider the question, “how much does it cost to have a baby,” there are some additional items that you may need to consider ““ for example, will you go back to work afterward? If so, you’ll need daycare ““ rates vary greatly by state and provider type, but estimate $13,000-$15,000 on the low end.
Also, consider items for your baby as he or she grows, such as a high chair ($125) and convertible car seat ($180). There’s also that college savings fund — if you contribute just $100 each month for 18 years, you’ll have saved $21,600 ““ even before interest or potential gains, depending on investment method.
In an ideal world, you have plenty of time to save and plan for having a baby ““ though this isn’t always the case. Regardless of how much time or money you may or may not have, remember that babies don’t care whether they are wearing hand-me-downs or Ralph Lauren ““ they thrive on love, and that is free.