Budgeting for a baby can be daunting – with so many diverse costs to consider it’s no wonder many parents can end up feeling overwhelmed. To help first-time parents navigate their way through this new experience, MyBudget has created an infographic estimating the first-year costs of having a baby.
As well as detailing upfront, weekly and annual costs, MyBudget also provides handy money saving tips for parents to consider. With the estimated weekly expenses of a baby adding up to over $4000 in the first year, having a sound budget in place is essential.
(Please note that our estimates do not include costs associated with prenatal, postnatal or pediatric medical care. For those costs, please talk with your care providers and/or health insurer.)