how much did your baby cost

OK so we are trying to plan ahead in the next few years about having a baby... We want one sooner rather than later so we are making sure we will be financially ready. I have been looking into different health insurance plans. but I would like to know how much does it REALLY cost to have a baby?

[Pollyanna]

Umm, hmm, that is kind of impossible to answer. All the baby stuff costs (furniture, swings, etc) a fair amount but usually for your first you can get a lot of that as gifts. You can breast feed for the first 6 months (or even more) which is free . You can cloth diaper which can be much cheaper than disposables. You can have all the best laid plans but it is impossible to tell you how much it will cost to have a baby. Will you need daycare, how often do you want to hire a sitter, etc. There are just a million and one things that cannot be predicted.

If you are planning to stay home, try to live off just your dh's income for the next six months and put all your earnings in savings, that will give you an idea of what you will need to do to live on one income. If you are not planning on staying home, do it anyway because daycare costs, diapers, etc will take a big chunk of change and this way you can have a nice nest egg saved.

In the end, if you are ready to have a baby, go for it!!!

[Auspicious]

Yup, look into health insurance and your childcare needs (cost of which varies a lot regionally).

After that feeding and diapering can be pretty regular and notable expenses. (Breastfeeding is comparatively cheap but it does still cost most people some money.)

After that a lot depends on your parenting style and your shopping style. People will rightly tell you you don't need all that equipment, but I love having all the equipment--bouncy seat + swing + beco + jumperoo + baby gym etc. for me, please! Adds to the convenience and fun. But I'm happy to get that stuff used and/or no-frills.

I never added it up, but we were able to pay for it out of our existing cash flow (good health insurance and healthy baby, no childcare, breastfed, disposable diapers). The main time I've felt pinched over the past three years is after our second baby arrived and we needed a bigger apartment, and also I wish we had more pre-school/activity money for my almost-three-year-old now. They get more expensive as they get older (or at least it feels that way), so think ahead to that.

Here's a cost calculator that might serve more as a list of things to think about: http://www.babycenter.com/babyCostCalculator.htm

Good luck!

[Tenacious_D]

It cost me my social life JK...sort of. That's a hard question to answer. We have had a lot of help from family so I haven't really calculated it all up...honestly I am afraid to look at how much it's costing us.

[GrayMatterWife]

. . . I would like to know how much does it REALLY cost to have a baby?

Everything and nothing. And sometimes twice that.

[Ladybug]

waaaaay too variable to answer...and I'm only 6 years into it.

You can do baby needs on the cheaps with planning, hunting and a few well-planned baby showers. It's the loss of income/cost of childcare (?) that is the great variable, and that totally depends on what you do and where you live.

[DCJenn]

The acquisition was 45k including travel costs. I've never thought about what it's cost since we landed 4/29/05. A lot.

Jenn

[moonlight]

Your post made it sound like you just wanted to know about delivery costs. I'm sure you are smart enough to figure out that childcare is expensive and if you quit your job.. well that, you'd be without a paycheck. Duh, right? lol!

With insurance just remember you will owe two main bills. The first will be the bill do your OB (or midwife) the second bill will come from the hospital post baby. When you select a doctor (or midwife) they will typically have you sign a contract that states how much the prenatal care and delivery costs will be. I think after insurance I owed the OBGYN about $600. I had a "failed natural delivery" that resulted in a c-section. The hospital bill I think (this is after what my insurance paid) was about 2K. You also need to remember that you'll have a hospital bill for the baby. Our baby was in the NICU for 5 days so that bill was kinda big as well. I hope that helps!

[scrub-jay]

Moonlight -

I think that can be extremely variable. I *asked* for a contract or ever a ballpark estimate for my delivery costs and no one had any clue at all. Then I continued to receive random bills for the next 4 months post delivery. My advice - always call the hospital and request itemized bills. Or if you have an HMO (such as Kaiser) you can know walking in how much it will be. I did not have a c-section and went with a midwifery group - and yet, I think we paid somewhere around $1800 when all was said and done. This also included me insisting on being discharged after one night (they wanted to keep me two). It can really vary!! Good luck!

[ides]

Yeah. It's really hard to say. I do want to say however that we breast fed only and it was not that cheap. Simply because I've used a ton or thousands of disposable breast pads, bought two pumps (hand and later electric), bought nursing bras, then had to get some bottles and stuff for the expressed milk. So though it is cheaper than formula - it has it's own costs. The delivery/hospital charges weren't bad for us. We had an approved hospital and our insurance covered all but a copay of $500, including all prenatal care too. I was surprised that nothing popped up unexpectedly, as we did have a c-section. I did look carefully at our benefits first to make sure I knew what to expect.

[peggyfromwastate]

I think the baby years are the cheapest...

IDK though. We don't have to worry about the health care costs bc of our health care- but if I had had to add up my actual expenses of the last 2 pregnancies, I think they were each in the range of 20-30K with the high risk appointments and the NICU stays for both infants. I had non-stress tests, ultrasounds constantly, etc., etc. I've consulted perinatologists on 4 pregnancies, but only had to be followed (weekly) by one for the last 2. So that part depends on your insurance plan. I would make a plan for the worse case scenario- don't count on the pregnancy being simple and smooth sailing. If it is, great! Money in the bank. Money you will need...

As far as the *stuff*, that varies a lot. But I second the sentiment that nursiing has some expenses attached to it, plus even if you nurse you'll want to buy the bottles for backup. Baby food is pricey. You can make your own of course, but that all depends on how organized you are-- I never was organized enough. I did use the *real people food* as soon as possible.

Anyway, just don't plan on the baby years being the expensive years. I am sort of shocked at the teen years so far-- and living in fear of when my twins both hit teen. The food alone that my 14 yo daughter eats! And the expenses for extracurriculars... It adds up fast. It's reasonable if your cherub is in any type of a sport to plan on around $500-$3000 a season to support that sport (some are more than that, I'd say this is a ballpark), and music lessons, music instruments, dance class (super yikes), gymnastics (super duper yikes), etc...

I guess I'm saying to not get too caught up in the baby years, because it only gets worse! Of course, lack of funds never stopped me from having kids! I had 3 before we even started med school...

[Pollyanna]

Anyway, just don't plan on the baby years being the expensive years. I am sort of shocked at the teen years so far-- and living in fear of when my twins both hit teen. The food alone that my 14 yo daughter eats! And the expenses for extracurriculars... It adds up fast. It's reasonable if your cherub is in any type of a sport to plan on around $500-$3000 a season to support that sport (some are more than that, I'd say this is a ballpark), and music lessons, music instruments, dance class (super yikes), gymnastics (super duper yikes), etc...

I guess I'm saying to not get too caught up in the baby years, because it only gets worse! Of course, lack of funds never stopped me from having kids! I had 3 before we even started med school...

Yes yes!!!! Plan on extracurriculars costing as much as a mortgage, no really, they do.

[madeintaiwan]

Cost of delivery is dependent on your insurance. I would just call and ask them or read your policy. I am big on ready my policy front and back and I always call before having procedures [not that we have had many] scheduled. DS1 was $20. Our monthly insurance premium was covered by DH's employer and I had a $20 co-pay at my first prenatal visit which covered EVERYTHING including my "emergency c-section" after laboring for 21 hours and pushing for 3 as well as my 6-week post partum visit. With DD, we payed monthly premiums but having her was only a $10 co-pay. DS2 was premiums and 10% co-insurance which ended up being about $1100 when all was said and done.

Outside from pregnancy and delivery, it is IMPOSSIBLE to say how much rearing a child [children] cost. This is dependent on so many variables. Are you giving up income? Childcare. Breastfeeding. Formula cost. Furniture. Clothes. Toys. Junk. Health care. Diapers. Medicine. Food. Activities. And as they get older, school supplies and events. The costs are endless and hard to measure.

[MrsK]

I think the baby years are the cheapest...

Anyway, just don't plan on the baby years being the expensive years. I am sort of shocked at the teen years so far-- and living in fear of when my twins both hit teen. The food alone that my 14 yo daughter eats! And the expenses for extracurriculars... It adds up fast. It's reasonable if your cherub is in any type of a sport to plan on around $500-$3000 a season to support that sport (some are more than that, I'd say this is a ballpark), and music lessons, music instruments, dance class (super yikes), gymnastics (super duper yikes), etc...

My cousin used to say that when kids are little, they eat dirt. Put them in the backyard with a spoon and they are happy. Then they get older and they eat cars and braces and college tuition. . .

Thanks for all of your info!
I guess I was more asking about delivery/dr fees. We wanted to have a chunk of money set aside just for that and build up a saving plan for the extra's child care diapers and all the extras that come with having children. Right now money is stopping us. We don't want to wait till we are 35 to have kids, that is just us but right now we don't feel like we are financially ready and saved enough. But really who ever has enough money?
I have been on the phone with a few insurance companies wanting to sell me insurance and I don't what sound better, paying more now or more later.
The plan is for me to stay working part-time so that will defiantly help a little with expenses. Did anyone have a chunk of money set aside just for having kids?
We are lucky enough that I was working full-time and he worked full time before Med school. so my school loans are paid for, we have 2 cars paid off, but we are renting, I feel like we won't be out of dept for a while, but we hate the idea of having to wait.
Do any of you felt like you were prepared financially for children after you had them?