Day 1 What Baby Will Cost You

Step 1Step 2Step 3

LEARN IT

You’re having a baby … congratulations! This is probably the most exciting time of your life, though you may have a ton of questions. That’s why we’re here to help.

In this bootcamp we’ll take a look at how your baby will affect your finances—from your monthly budget to the total cost of raising your child ’til age 18. We’ll help you see how being a parent fits in with work, arming you with the right questions to ask your employer and helping you calculate whether or not you can afford to go part-time or even take a few years off.

RESOURCES: BABY COSTS

You’ll also start planning for all your expenses, from setting up a stylish nursery that won’t put a dent in your bank balance to saving for college.

Today, we’ll get a bird’s eye view of how a baby will affect your overall finances, and then dig deeper to determine how your first-year expenses, specifically, might change.

To start, check out our infographic on how much the average, middle-income family spends to raise a child from birth to age 17:



In Step 2, we’ll take a closer look at what you can expect to spend in the first year of Baby’s life.

Continue to step 2

GET INVOLVED

  • Guest

    I already own a home, so how will having a baby increase my housing cost?

    • Anonymous

      Hi!

      Thanks for your comment. The figure you see above is a national average and does not
      take into account your individual situation. Although you may not move into a bigger place, many other people probably move into bigger homes or apartments with more
      bedrooms in order to accommodate a new child.

      As you progress in the bootcamp, you’ll find out how a new baby will impact your personal financial situation, but in this first day, we’re just giving an overview of how it affects people’s finances generally.

      Laura

  • Marcos

    I’m not having any more kids. 

  • Amber

    The transportation and housing shocked me the most. With the prices of gas these days, I believe the transportation figure. My kids are going to learn the importance of riding a bike. lol

  • Mrs. Miranda

    Childcare and education scared me and transportation.  Although, I shouldn’t be too alarmed with the transportation I live in NYC and it’s constantly being increased!

  • Jrece

    I never figured on that much for transportation! Good to know it’s far more than even healthcare.

  • Desiree

    I agree with Jrece…$30,000 for transportation? WOW

  • Sexyqueen30

    good to know this so i can explain that to my teenagers so they will think twice or triple of having a child now….it does cost a lot

  • Toyia

    Transportation surprised me

    • Ssmart4088

      And if the MTA (in NYC) cut out Student MetroCards, that estimate will be peanuts…yikes