The decision of expanding your family and preparing for the addition of a new member into your clan is a big one! Don’t be fooled into thinking that you just have to be physically and emotionally ready to start trying for a baby. There’s the money aspect of it as well. Well, sure, you must have thought about getting tons of diapers and all the hospital charges that comes with bringing a new life into this world. But we’ve got news for you. Babies are far more expensive than you would like to think. And to really decide if you are prepared for taking this giant leap, your bank account must be prepared too.
We all know that babies don’t come cheap. It’s easy to ignore how much they cost because of how cute and adorable they look. Those tiny hands and feet don’t give away how much they can cost you. But mind you, looks can be deceiving and we know that all too well. Apart from calculating the cost of basic needs such as shelter, food, and a ton load of diapers, you will also be spending your money on nursery decor, baby clothes for each season, baby toys, baby gear, and nursery decor in the first 12 months of your baby’s life. And we aren’t even taking into account the future years which includes the school fee, uniforms, books and supplies, and the enormous amount of college fund that is going to destroy your wallet. But have you ever rounded up a figure on how much it would cost you the first 12 months after bringing a newborn home?
How Much Would A Baby Cost You?
According to a report, a married middle-class family in the US spends about $12,680 in the first year of a child’s life (1). This number may vary depending upon the place and the financial status of the couple. People tend to purchase things they can afford, and hence parents living in metropolitan cities earning a higher income are likely to spend more on their babies than those living in rural areas and having a lower paycheck.
Even before the baby is born, people start investing in baby furniture especially if it’s their first baby. And this includes a crib, rocker, dresser, and changing table. A crib can range anywhere from 3,000 to 2,000 rupees in India. A stroller is estimated to cost around 4,000 rupees in the market. Then there is the added expense of the car seat which will cost you an additional 3,000 – 5,000 rupees. These numbers may slightly vary depending upon the brand and the quality of the product you purchase. And there are other expenses such as breast pump, baby monitor, nanny cam, etc that you are going to need especially if you’re a working parent. All this is likely to add a few more thousands in your baby budget.
And this is without taking into account the products with recurring costs such as diapers and baby formula. Let’s face it, babies poop a lot. And no amount of diapers will be sufficient for your baby during this phase of their lives. On average, you will have to change 6 to 10 diapers a day. And for mothers who cannot breastfeed or choose not to, formula milk will be an added expense of around 2000-3000 rupees a month. Apart from this, you will have to take into account, baby food, breast pump, and baby onesies that you will have to keep rotating because of how much they spit-up.
We are not trying to scare you away from bringing a tiny human into your life. But it would be wise to consider how much a baby will cost you so that you don’t stress yourself out both financially and emotionally when the time comes.