The Financial Cost of Having A Baby

Introduction

Responsible parenting begins before a child is born. Research reveals that the cost of having a baby is extensive and whilst should in no way cause people to think twice about having a child it is important that consideration is given to the costs involved. This way prospective parents can give their child the best quality of life possible. This article will examine in more detail the costs involved.

1. Nappies

There is much debate about whether disposable diaper/nappies are better than the rewashable material type, but the cost differences are not significant. The cost of using energy to wash material diapers is about equal to those involved in producing the plastic type. The biggest cost is to the environment as plastics just don’t biodegrade.

2. Maternity Leave

Most employers now offer good maternity leave packages but even the best don’t contribute a significant income. The loss of earnings during the period on maternity is rarely factored into the costs associated with having a baby, but it is often one of the largest.

3. Moving House

It is often the case that couples seek to move house to a bigger property prior to having children in order to accommodate their growing family unit. This can be very expensive business, costing thousands of pounds in fees and additional mortgage repayments associated with upgrading your property.

For those who decide to stay put, then redecorating a room for use as a nursery can set the average family back between £300 and £1000.

4. Baby Milk Formula

Specialist baby foods or formula for your baby add an additional burden to your household food bills.

Tip: A way around this is to make your own baby food by using your food processor.

5. Baby Clothes

Parents know just how quickly babies grow and frequent clothing changes are often required.

Tip: Asking friends and family for hand me downs is a great way to reduce these costs. Alternatively try visiting charity/second hand shops. After all babies rarely have an image to maintain at that age.

6. Specialist Equipment

Babies often need specialist equipment to improve comfort or keep them safe. These include Prams, Pushchairs, baby monitors, baby carriers, car seats, sun blinds, potties, bottles, dummies and numerous other items. All of these can add thousands of dollars to your already stretched budget.

Tip: Once again friends, family or second hand shops can be invaluable source for obtaining these items and reducing your baby bill significantly.

7. Toys

Children often get bored with toys very easily or as they rapidly grow need different stimulus. Frequent changes of toys are also costly.

8. Childcare Costs

Over the period of time your baby is growing up it is likely that you will need a babysitter or take your child to a nursery or play group and these costs are often excessively expensive.

Summary

This article has attempted to highlight the significant costs associated with having a baby. Such information should not deter prospective parents, as they are unlikely to do so, but rather used to highlight the importance of good planning.