Birth prep

Budgeting for Baby while TTC

Because you’re in the stages of TTC, it may seem premature to purchase diapers and other baby supplies. However, that doesn’t mean that you can’t begin saving your money now to help prepare for the costs of having a baby and raising a child. If you get started now, you’ll be in a better position when it comes time to purchase necessities like diapers, clothing, and food. While your baby budget is ultimately a very personal matter that will depend largely on which items you will want or need while caring for your baby, it’s never too soon to begin saving. Even if you choose to purchase just the most basic essentials for your baby, it’s still wise to save up beforehand if you can.

You could open up a savings account now to help prepare for the costs of having a baby. That way, you can stow away some money whenever possible to help offset the costs you’ll face down the road. Also, even if you do encounter some difficulties with conceiving, you’ll have some money in the bank should you choose to pursue alternate options and/or fertility treatments.

The first step in budgeting for your baby’s must-have items is determining what you should consider “essential.” Baby essentials might include: maternity pads, Babygro’s, booties, a blanket, car seat, crib, cloth diapers or disposable diapers. In the UK, the average family spends at least $4,500 on their first baby in just one year, but it’s possible to spend less than $300, if you stick to the absolute bare necessities.

There are some resources available online that will configure a budget for you to save up for your baby. Or, you can design your own budget by determining costs for one-time purchase items, such as car seats, strollers, diaper bags, items for the nursery, and so forth. Once you’ve established those numbers, you can decide on how much you’re able to put aside each month (or week) to reach that number over a certain period of time. Once you become pregnant, you may want to consider designing a monthly budget for after your baby is born to cover recurring costs, such as diapers, clothing, medical bills, and food.

Sharee Loeffler

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