A Glance At Baby Costs

• Pregnancy and Delivery Expenses Most likely, your insurance will cover it, but in case you have enrolled in one of the top-notch hospitals, you might have to shell out a considerable amount from your own pocket.
• Baby Furniture Your baby will need a crib, and then a high chair anywhere in the to eat, and a bed with a baby mattress as well, as she will be growing up. A baby tub and her washing essentials will also cost quite a bit. These spends will run into thousands, so be prepared for that. Each of these is likely to cost you anywhere between 2.5 k to 6k.
• Diapers Your baby would be needing nothing less than 2500 diapers in her first year alone, and will also require the creams and the oils the powders to go with them. Put aside a considerable amount of money for diapers alone.
• Formula/Food Generally, mothers opt for a combined feed of breast and formula these days, and the formula does cost a lot. Baby bottles and bibs also need to be purchased. Your baby will also start some mashed foods once she is around 4 months old, so considering the huge rate of inflation, do mark a good hefty amount on her feeding.
• Baby Outfits All those tiny. Cute little things cost a bomb – the baby dresses cost, much more than what your dresses do (like, seriously, yes!). Add to this the fancy accessories and you will be left wondering why a one-meter dress costs a bomb!
• Strollers/Walkers Again, a necessary expense, a pram or a stroller would cost you anywhere between 7 to 12k. Add to that additional (minimum) 5-7k for the car seat. Are you doing the math right??
• Childcare/Creche If all the above points are making you think you’d be putting in extra hours of work, well, that’d cost you too. A daycare facility can charge anything between 7-15 k depending on the facilities offered. That also needs to be cut from your tackle home salary to actually arrive at a more beneficial situation.

Money Saving Tips

Following are some tips to save money when it comes to baby costs. 

• Use the old clothes of cousins or your older siblings – babies outgrow clothes much faster than you think.
• You could also set the designer in your free and make your own baby dresses.
• There is no harm in buying second-hand baby furniture/cribs/prams, etc- you really get some very good deals on them.
• See if you can get a family member to watch your baby while you are at work. Saves a lot of money and you will be assured that the baby is also safe.
• Breastfeeding is a great option, and everyone benefits.

The presence of a child undoubtedly elicits great happiness, however, it also entails an augmented financial obligation that necessitates prior financial preparation. From infancy to adulthood, the expenses associated with child-rearing tend to escalate. Consequently, it is imperative to ensure that all aspects are comprehensively addressed. In summary, it is necessary to consider all expenses that will be accrued throughout the various stages of your child’s life. The aforementioned expenses encompass prenatal care, charges associated with childbirth, expenditures related to the upbringing of infants and toddlers, educational costs during primary and secondary schooling, fees associated with tertiary education, and expenses incurred post-graduation. These can be classified as basic necessities.

In addition to the aforementioned, it may be necessary to satisfy requests such as high-end technological devices, fashionable attire, excursions with companions, and so forth. When conducting a cost analysis, it is advisable for parents to consider the impact of inflation on their expenses in order to ensure that their endeavours are not disrupted.