How much does having a baby cost?

2

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  • starbump
    starbump Posts: 357 Forumite
    Assuming you can manage on one income, then you can afford the bills easily. Child Benefit is universal (not means tested) and covers the basics e.g. nappies, toiletries. The rest will probably come from the things you'll naturally give up e.g. magazine/tv subs (no time), drinking/smoking (not safe around small babies), going out (no time).

    My money saving tips are: avoid buying anything until you really need it (saves stocking up on expensive gadgets you never use) and try to breastfeed and co-sleep for at least 6 months (so if mom has to go back to work at least you've saved on not buying a moses basket and 6 months of infant formula milk).
  • SmlSave
    SmlSave Posts: 4,911
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    Thank you everyone for your replies :)

    They've given me lots to think about :think:

    I guess its losing one wage/childcare costs that worries me most and I thought if I had a rough idea on how much new baby stuff costs I could start a saving pot now.

    We only know two couples with young children and they seem to have soo much stuff! :eek:

    I'm definitely happy with buying second hand, breast feeding etc and am hoping that the grandparents will be happy with babysitting :p

    When we make the final decision....duh duh DUH.....I'm going to convince OH that we start living as we would on one wage straight away so we get used to it.

    I understand that having a baby means giving up stuff (like lie-ins ;)) but I'd like to be as prepared as we can be as to give her/him the best we can.

    I'm going to get the wedding out of the way and then start saving as hard as I can. Minimum aim will be £1000 whihc would roughly be £150 a month from August (:o serious baby chat schedule for February) Feel free to call me crazy :rotfl:I organise everything far in advance and then research it to death! :rotfl:

    Please keep posting people, I'm learning a lot :T
    Currently studying for a Diploma - wish me luck :)

    Phase 1 - Emergency Fund - Complete :j
    Phase 2 - £20,000 Mortgage Fund - Underway
  • starbump
    starbump Posts: 357 Forumite
    If you both work, then it is really just the loss of income and childcare expenses that you need to worry about. If you're going to research anything then I'd focus on whether it is financially possible to stay at home/take a career break (and for how long) and how much childcare would cost (if family are unable to do so for free).

    The reason why it is hard to give a ballpark figure on baby expenses is it really depends on whether you buy the least or the most expensive options e.g. you could get a Maclaren stroller for around £100, a Quinny for around £500 or a traditional Silvercross for around £1,000. You just have to shop within your personal budget.
  • homeaway
    homeaway Posts: 263 Forumite
    I agree that you can buy so much stuff that you dont really need. You can buy a nice second pram that will have been used very little as they are combersome and people quickly change to a buggy if they dont walk a lot. I would always buy a new buggy if you want one as you will get a lot of use out of it. I would never buy a second hand car seat unless i knew the person as you have to be sure that it has never been in an accident. You will be given loads of clothes.... The general advice is to buy a new mattress with every child but a second hand cot is fine.
    If you discount the loss of your wage the cost of a baby is very small but be warned they cost you a lot more when they are teenagers :):rotfl:
    We have three children and i can honestly say that although it was tight at times we managed. They are now teenagers and i am back working. Good luck
  • The_Banker_5
    The_Banker_5 Posts: 5,611 Forumite
    Mines just asked me for a lend of £500 so work it out for yourself how much they cost you.;)
    Nature wants the human race to survive. However, it does not depend on us because we are not its only invention.
  • diable
    diable Posts: 5,258 Forumite
    The_Banker wrote: »
    Mines just asked me for a lend of £500 so work it out for yourself how much they cost you.;)
    You are lucky that's cheap lol but back to the the OP's question,

    How Much Does Having a Baby Cost?

    Priceless, it costs you nothing, especially in what you get in return, if you have to think about it or justify it then you are not ready.
  • tiamai_d
    tiamai_d Posts: 11,987
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    Baby equipment will cost about £500 if you get second hand/essentials/bargain spotting.

    The advise I will give though is only have a baby if you can afford to live off one wage for the rest of your life. DS2 is disabled, something we could never have predicted and since he was just over a year old and it became apparent that he needed me at home, I have been an at home carer to him relying on my husbands wage. We do get DLA and CA but it's nearly as much as I was making at work. Luckily we can manage on one wage.

    I'm now pregnant with baby number 3 and from discovering car boot sales, ebay etc we have spent under £500 and all we have to get is the car seat (£50-£80 but we have £30 in argos vouchers from surveys) and the cot (coming from a friend so it's just a new matress really), she also has a number of designer dresses :D (ebay baragins, if folk want to be mental and spend £50 on a dress then sell it to me for 99p fair game! Paid for by more survey money.). Tesco/asda/matalan sleepsuits are every bit if not better than mothercare and for the first few weeks their outfits are usually a sleepsuit, vest and cardi (ebay or your friendly neighbour).
  • viktory
    viktory Posts: 7,635 Forumite
    Simple answer - babies can be relatively cheap. However, having a child is very, very expensive - and you'll be paying out for far longer than you would a mortgage.
  • SmlSave
    SmlSave Posts: 4,911
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    If you discount the loss of your wage the cost of a baby is very small but be warned they cost you a lot more when they are teenagers

    Gosh, I can imagine!
    Currently studying for a Diploma - wish me luck :)

    Phase 1 - Emergency Fund - Complete :j
    Phase 2 - £20,000 Mortgage Fund - Underway
  • mrscb
    mrscb Posts: 1,163
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    I think if you wait until you think you can afford one you would never have one(there is always something else to spend money on ) as you get used to whatever income you have. After the initial outlay cot/pram etc (second hand/new) its not too bad...obviously there is possible loss of wages depending on time you want off,Breast feeding,free and you will get a lot of gifts.
    Babies dont know how much you spend its when they get bigger and want the 'in things'.
    Dont want to start a heated debate but people who dont have wages still have babies....
    Its up to you to decide you are prepared to give up(apart from sleep).!!!!
    Good luck with whatever you decide
    :beer: Am thinking of a new one:beer:
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