Costs of Having a Baby

And you thought the home pregnancy test was expensive! The costs of raising a baby to age 18 costs between $125,000-$250,000 and that's not including college tuition! In your baby's first year alone, you can easily spend between $9,000-$11,000 (for diapers, formula, baby furniture, clothing, baby gear, etc.)

Two things that can save you money right off is deciding to use cloth diapers, using 2nd hand items and breastfeeding.

If you go back to work right away, childcare can cost as much as $3,000-$4,500 in your baby's first year, not to mention the higher insurance premium for adding an additional person. If you can stay home with your baby, you can save money. Read more below:

Pregnancy

Don't forget about the delivery! It easily costs between $5,000-$8,000 for a normal vaginal delivery, up to $12,000 for a cesarean delivery and much more if there are complications. If you are covered by insurance, it may cover most of the cost.

If you plan to use disposable diapers, plan on spending between $1,600-$2,300 by the time your baby is potty-trained. Expect your baby to go through at least 7-8 diapers a day on average and spending $80-$130 a month on diapers alone (especially in the first few months, when changes are more frequent.) Cloth diapering can be just as expensive as disposables if you use a diaper service. If you launder them yourself, you can save money. It is estimated that cloth diapering cost approximately $800-$1,100 by the time your baby is potty-trained (without the diaper service.)

For formula (up until your baby is one-year-old), expect to spend between $1,000-$2,300- depending on whether you use powder in a can or ready-to-pour liquids. Plan on spending at least $40 a week on infant formula. You can really cut your costs dramatically by breastfeeding for a year or more.