On Twitter a few days ago, one of my buddies asked the question, “How much money do you need to have a baby?”
Really, there is no real answer to that question. You could say you need to be making six figures or you could say that with a bit of budgeting, it’s possible for a family of three to make it work with $25,000.
My gut reaction was to tell her the raw, honest truth. I hate when people lie and say babies aren’t expensive. Yes, lie.
They lie because it’s simply not true. Babies cost a boatload of money. And even if babies aren’t expensive in your mind, guess what? Babies grow up. They become kids. And kids need stuff too.
True, you don’t need to buy every little gadget on the market, and does your baby really care if everything in the nursery matches? No.
But there are expenses that you just can not wiggle your way out of.
You need a crib. A car seat. Both can be expensive.
A stroller? Somewhere to put the kid other than your arms? Trust me, I hear all these moms say how they love to hold their kids 24/7 and buy wraps and slings to keep their kids close. Um-hmm. I love my kids too, but there comes a point where I need my body to myself.
How about medical bills? Those co-pays add up, so do prescriptions if your kid has ezcema, or allergies, or just a regular ol’ cold. I can’t tell you how much money we’ve spent over the past two years trying to find a body cream that won’t break my daughter out.
Planning to work after you have the baby? Well, say hello to the wonderful world of daycare expenses, where your monthly childcare costs will be more than your mortgage. Yay!
Food. You are planning to feed the kid, right? And you can’t breastfeed forever, despite what the anti-formula brigade tells you.
The point is to be comfortable. Have enough for the basics and the occasional “Oh, s#%@, where did that come from?” bill. The most important thing you can give your kid is your attention. Reading to them, taking them to the park, cooking with them, watching movies with them.
Loving them.
That last paragraph said it all. As long as you have the basics covered then everything else usually falls into place.