When I first saw the estimated cost of a baby during the first year, I was shocked. 12,000 dollars?! Who can afford that?
It’s actually possible to spend very little during baby’s first year. Of course, there are essentials like diapers and wipes that you must purchase, but there are some simple ways that you can save some serious money.
Formula vs Breastfeeding
Are you planning to breastfeed? It’s my belief that every expectant mom should at least give it a try (if possible).
I knew that I was going to breastfeed, but I wasn’t looking forward to it because I had never really been exposed to breastfeeding (and therefore thought it was weird) and also because I’m as cheap as they come.
However, from the first moment of breastfeeding, I adored it. I can’t explain it, and maybe your experience will be different, but maybe it won’t.
So let’s look at the cost breakdown.
Formula (on average) is going to cost you $100 a month. And that’s if your child doesn’t have a milk protein intolerance (like both of my babies did). If you need to buy the specialty formula, you can expect to spend about $400 dollars a month.
Cost of formula for one year: 1,200.00
Cost of breastfeeding for one year: free
Another place that you can spend unnecessary money is on crib bedding (that you can’t really use with your child). A basic crib bedding set is going to cost you about $100, and it will contain two unnecessary items. The blanket (which you cannot have in the crib with your sleeping baby), and a dust ruffle, which while beautiful, is essentially pointless.
I purchased this super soft velour crib sheet and I also bought breathable bumpers (which you would have to buy separately anyway). I love this crib sheet because it is SO soft and doesn’t get cold like traditional sheets (so that when you’re lowering your sleeping baby into the crib, she hopefully won’t wake up).
Cost of crib bedding: $100
Cost of velour crib sheet: $13.00
Once your baby starts eating solids around 6 months of age, you’ll have this added expense.
If you make your own baby food (or go the Baby-Led Weaning route) you will save a lot of money. Besides, have you ever tasted jarred baby food? Do yourself a favor and don’t.
Homemade baby food tastes just like what it should taste like. Food.
Approximate cost of baby food (according to this awesome breakdown. I’m estimating that your baby will use 3 jars of baby food daily for 6 months). ): $500.00
Cost of homemade baby food (according to the above site. I however believe that the savings would be much more significant): $160.00
Baby’s grow. Fast. Faster than they ever will at any other time in their lives. While it is so tempting to buy all the cute clothes, resist. Those cute clothes will soon be covered in spit-up stains or will be outgrown after an epic growth spurt.
Instead, take all the hand-me-downs. I didn’t buy any new clothes during the first year because I had bags and bags of hand-me-downs.
Approximate cost of clothing: $60 a month for a total of $270.
Cost of hand-me-downs: $0.00
Total savings: $1,897.00
Of course there are other ways to save too, but this is definitely a start.
What do you plan to do to save money during baby’s first year?
If you found this post helpful, please share it!