Conceiving a baby symbolizes commitment and love for a couple. But did you know that the easier it is to deliver a baby, the more difficult it is to raise the same. Most couples do not think of what the baby can cost them, whilst they are busy making love and enjoying some of the most precious and intimate moments of their life. It is only when the baby is out of the womb that bells start ringing in the head, urging them to think about the expenses that the baby has come along with. While having a baby is one of life’s miracles, it is important for parents to think and be prepared for the same, both psychologically and financially, before they proceed towards having their first child or extending their existing family. For the expenditures begin right from when a mother conceives and extends up till the baby grows into a matured man/woman. Thus, if you are planning for a family, it is significant that you concentrate on the costs that you are likely to face. Given here are some of them so that you can be prepared for the same accordingly.
Cost Of Raising A Baby
A nursery is the first thing required by a baby as soon as it leaves the hospital and steps into its new home. And if you happen to live in a small one-bedroom apartment, it’s time to shift into a larger home as you have a new member in your family. You’ll need a crib, changing table, baby monitor, and so on. In case, if you already have an extra room, you have got to paint the walls anew in soft colors. And as your baby takes its first step, you have to squirt out money to baby-proof your home by eliminating sharp edges, installing safety locks to cabinets and windows, and adding gates around staircases and bathrooms.
To keep your baby healthy and bestow it with a fit and strong mind and body, you need to fulfill all your baby’s nutritional needs. Since babies aren’t able to consume solid foods during the first few months, you will have to purchase foods specified for their diet. Further, they are likely to create a lot of mess while eating. Thus, you have to squirt out some more bucks on buying bibs and safe-cleaning supplies.
Once you enter the stage of parenthood, your responsibility towards your baby continues till it reaches your age. As such, right from birth to high school, kids have varying demands of clothing. And since babies grow rapidly, they outgrow the existing clothes requiring a new pair almost every month. It wouldn't be wrong to say that during this age, babies and kids need clothes just like you require daily groceries.
Health And Medical Costs
Ever since you’ve learnt that you are pregnant, your medical costs simply start rising with no signs of reducing. And when you have your baby in your arms, the constant stream of diapers simply becomes uncontrollable. As a result, you end up spending more on diapers than the expenditure on food for the entire family. Thus, if your company gives medical benefits, find out if children too are covered by their policy or not. If not, your baby’s medical costs are sure to hit the sky. Be prepared to spend a lot of greens.
Transporting your baby from the hospital to your home itself requires a lot of money spending. A baby car seat, diaper bag for ill times issues, travel pack for food and toys, and stroller are some of the equipments that are necessary to purchase.
Toys And Entertainment Costs
To raise your baby, you need toys to keep your little one entertained. Unlike older children whose needs can be ignored for a while, infants and babies require immediate attention. As such, buying some needful things for your baby’s upbringing can make you end up racking a huge bill on just entertainment. Pacifiers, toys, mobiles, and books are few of the many things that you would require to invest on.
Daycare And Babysitting Costs
And if both are working parents, then you simply cannot avoid the cost of sending your little one to a daycare. While you are away looking after your respective jobs, your baby too needs to be taken care of. Gradually as your baby grows up, you may also have to pay a babysitter if you wish to stay away from parenting for a night or two.
These are some financial costs that you simply cannot ignore, if you are planning to have a family. Also, having a baby demands mental, emotional and social costs as well. Plan well before you take this leap.