Written by Meaghan Maess, Buffalo State College student and communications intern at Catholic Health
Before you get pregnant, ask yourself if you and your spouse are able to support a baby financially. Experts recommend saving $5,000 to $10,000 for expenses and financial emergencies such as loss of a job.
To help you estimate the impact of a baby on your finances, we’ve tallied up the costs of basic items that you’ll need to care for your newborn. Keep in mind that these figures are estimates and don’t include the cost of labor and delivery or follow-up visits with your pediatrician.
One-time Expenses
- $2,921 if breastfeeding
Note that if you’re breastfeeding and staying at home with your baby, you may opt for a hand breast pump, which is around $20 ($165 less than the pump included in this estimate).
- $2,606 not breastfeeding
| Category | Item | Item Cost | Source | Cost |
|---|---|---|---|---|
| Bedding | Bassinet or Co-sleeper sheets (2) | $8.99 | Babies 'R Us | $17.98 |
| Bedding | Receiving Blankets - 5 pk. | $12.99 | Babies 'R Us | $12.99 |
| Bedding | Swaddling Blankets - 3 pk. (3) | $24.99 | Babies 'R Us | $74.97 |
| Bedding | Crib Sheet (2) | $5.98 | Babies 'R Us | $11.96 |
| Breastfeeding | Nursing Bra (4) | $17.50 | Babies 'R Us | $70.00 |
| Breastfeeding | Lanolin cream - 1.41 oz | $9.99 | Wegmans | $9.99 |
| Breastfeeding | Travel Nursing Pillow | $49.99 | Baby's Sweet Beginnings | $49.99 |
| Breastfeeding | Breast Pumps | $185.00 | Baby's Sweet Beginnings | $185.00 |
| Clothing | Anti-Scratching Mittens - 3 pk. | $4.99 | Babies 'R Us | $4.99 |
| Clothing | Baby Hats (5) | $6.98 | Babies 'R Us | $34.90 |
| Feeding | Bottles - 3pk. (4) | $3.49 | Wegmans | $13.96 |
| Feeding | Nipple Brush for Bottle | $2.49 | Wegmans | $2.49 |
| Feeding | Bibs (10) | $1.98 | Babies 'R Us | $19.80 |
| Feeding | Burp Cloths - 3 pk. (5) | $5.99 | Babies 'R Us | $29.95 |
| Furniture | Crib | $186.99 | Babies 'R Us | $186.99 |
| Furniture | Crib Mattress | $139.99 | Babies 'R Us | $139.99 |
| Furniture | Crib Mattress Protector Liner | $14.99 | Babies 'R Us | $14.99 |
| Furniture | Bassinet or Co-sleeper | $149.99 | Babies 'R Us | $149.99 |
| Furniture | Changing Table | $179.99 | Babies 'R Us | $179.99 |
| Furniture | Changing Table Pad | $17.98 | Babies 'R Us | $17.98 |
| Furniture | Changing Table Pad Cover (2) | $11.98 | Babies 'R Us | $23.96 |
| Furniture | High Chair | $152.99 | Babies 'R Us | $152.99 |
| Furniture | Dresser | $319.99 | Babies 'R Us | $319.99 |
| Health | Advil Infant Fever | $4.99 | Wegmans | $4.99 |
| Health | Baby Orajel gel | $4.99 | Wegmans | $4.99 |
| Health | Teether (2) | $6.99 | Wegmans | $13.98 |
| Health | Thermometer | $15.00 | Babies 'R Us | $15.00 |
| Hygeine | Baby Bather | $19.99 | Babies 'R Us | $19.99 |
| Hygeine | Diaper rash ointment - 4 oz | $4.99 | Wegmans | $4.99 |
| Hygeine | Diaper Pail | $19.99 | Babies 'R Us | $19.99 |
| Hygeine | Aquaphor Skin Ointment - 3 oz | $6.99 | Wegmans | $6.99 |
| Hygeine | Washcloth - 8 pk. | $5.99 | Babies 'R Us | $5.99 |
| Hygeine | Towel - 2 pk. (3) | $9.99 | Babies 'R Us | $29.97 |
| Misc. | Pack-and-play | $169.99 | Babies 'R Us | $169.99 |
| Misc. | Infant Ear Syringe | $2.99 | Wegmans | $2.99 |
| Misc. | Swing | $90.08 | Babies 'R Us | $90.08 |
| Misc. | Pacifiers - 2 ct. (3) | $3.99 | Wegmans | $11.97 |
| Misc. | Baby Monitor (Audio) | $59.99 | Babies 'R Us | $59.99 |
| Misc. | Gym | $39.99 | Babies 'R Us | $39.99 |
| Misc. | Crib Mobile or Musical Soother | $49.99 | Babies 'R Us | $49.99 |
| Misc. | Bumbo Seat | $44.99 | Babies 'R Us | $44.99 |
| Toy | Rattle | $3.99 | Babies 'R Us | $3.99 |
| Toy | Keys | $5.99 | Babies 'R Us | $5.99 |
| Toy | Plush | $9.99 | Babies 'R Us | $9.99 |
| Toy | Bouncy Seat | $59.99 | Babies 'R Us | $59.99 |
| Toy | Blocks | $9.99 | Babies 'R Us | $9.99 |
| Travel | Stroller | $179.99 | Babies 'R Us | $179.99 |
| Travel | Car Seat (2) | $118.99 | Babies 'R Us | $237.98 |
| Travel | Diaper Bag | $31.99 | Babies 'R Us | $31.99 |
| Travel | Baby Carrier | $59.00 | Baby's Sweet Beginnings | $59.00 |
Monthly Expenses
Your monthly expenses depend to a large extent on daycare. The choice of breastfeeding vs. formula also affects your monthly cost.- Breastfeeding with daycare: $1,255
- Breastfeeding without daycare: $375
- Formula with daycare: $1,384
- Formula without daycare: $504
See the breakdown below:
| Category | Item | Item Cost | Source | Cost/Month |
|---|---|---|---|---|
| Breastfeeding | Breastmilk storage bags - 25 ct. (2) | $5.99 | Wegmans | $11.98 |
| Breastfeeding | Nursing Pads - 60 ct. | $4.79 | Wegmans | $4.79 |
| ChildCare | Day Care | $220 | Creative Play Learning Center | $880.00 |
| Clothing | Body Suits - 4 pk. (2, every 2 months) | $8.99 | Babies 'R Us | $8.99 |
| Clothing | Socks - 6 pk. (2, every 2 months) | $5.99 | Babies 'R Us | $5.99 |
| Clothing | Outerwear (every 2 months) | $16.98 | Babies 'R Us | $8.49 |
| Clothing | Baby Pants/Shirts Outfits (8, every 2 months) | $14.98 | Babies 'R Us | $59.92 |
| Feeding | Formula - 90 fl oz (2) | $16.99 | Wegmans | $135.92 |
| Hygeine | Vaseline - 3.75 oz (7) | $1.99 | Wegmans | $55.72 |
| Hygeine | Diapers - 31 ct. (3) | $8.99 | Wegmans | $107.88 |
| Hygeine | Wipes - 72 ct. (4) | $1.99 | Wegmans | $31.84 |
| Hygeine | All natural Laundry Detergent - 33 loads | $8.49 | Wegmans | $8.49 |
| Hygeine | Diaper Pail Liner Refills - 32 pk. (2) | $19.99 | Babies 'R Us | $39.98 |
| Hygeine | Baby Shampoo - 15 fl. Oz. | $2.99 | Wegmans | $2.99 |
| Hygeine | Baby wash - 28 fl. Oz. | $5.29 | Wegmans | $5.29 |
| Hygeine | Baby oil - 14 fl. Oz. | $2.99 | Wegmans | $2.99 |
| Hygeine | Baby Lotion - 3 oz. (2) | $6.99 | Wegmans | $13.98 |
| Misc. | Prenatal Vitamins - 90 ct. (every 3 months) | $9.99 | Wegmans | $3.33 |
| Misc. | Books (every 3 months) | $7.99 | Babies 'R Us | $2.66 |
Grand Total
| Cost for First Month | 12-month Cost | |
|---|---|---|
| Breastfeeding | ||
| With daycare | $4,176 | $17,985 |
| Without daycare | $3,296 | $7,425 |
| Formula | ||
| With daycare | $3,990 | $19,215 |
| Without daycare | $3,110 | $8,655 |
Forecasted out to 12 months, the cost of formula surpasses the cost of breastfeeding by over $1,000. Not to mention, breastfeeding is healthier for your baby, results in a faster recovery for mom and gets you back to your pre-baby weight sooner (See 5 Reasons Why You Should Breastfeed).
If these numbers seem high, remember that baby showers and shopping for used furniture and clothing can help to offset costs.
Other Considerations
Besides saving money, there are several things you should do to make sure your finances are in order before pregnancy.Review Insurance Plans
Some health insurance plans charge additional fees for adding another person to the plan. Check with your provider to see what their policies are and what is covered. Also, make sure that you have adequate life and disability insurance to make sure your family will be provided for in case the unthinkable happens.Make a Plan for Employment
The Family and Medical Leave Act guarantees new parents their jobs and health insurance for 12 weeks during unpaid leave. Check with your employer about their maternity or paternity policies and see if they have any added benefits.If you or your spouse is considering staying home to care for the newborn permanently, decide if your family can afford to live on one income.
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