If you are going to formula feed your newborn, you have to account the cost of formula. This can run you over $100 a month. Breastfeeding is free, and the best nutrition for your baby, so if you are able to nurse, this is a good option of nourishing your child.
As your baby grows, he or she will begin to eat solid food. This becomes an added expense after the six month mark. Some families make homemade baby food; others buy it from the store. Whatever you decide to do, your baby’s eating habits in the first year of life will change your household budget.
Health insurance and medical costs are another aspect that you need to consider. You may need to pay more money for your health insurance every month. In addition, since babies will require multiple visits to the pediatrician for check-ups, vaccinations, and for illnesses that occur, you should also factor in medical costs into your household budget.
Your baby is worth each and every penny, but you can make life less stressful if you plan ahead. Start saving for your baby the moment that you get pregnant.
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