Preparing for your soon-to-arrive bundle of joy can be both exhilarating, and overwhelming. Not only are you assuming the lifelong responsibility of a human being, raising children can be expensive. The United States Department of Agriculture (USDA) estimates that the cost to raise a child in the US is approximately $245,340. By putting together a budget in an advance, you can develop an understanding of the expenses that are ahead when baby arrives. Here are some things to remember when planning your budget for baby.
Prepare a Budget
You may be surprised by how quickly the costs can add up after baby arrives. Between the costs of one-time items such as a car seat or baby crib, and regular expenses like daycare or diapers, baby could easily cost you $10,000 during your first year. You can plan in advance by using an online baby calculator, such as the ...