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  1. #1
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    Default Questions about finances and a baby for a young couple

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    Last edited by Amandale1727; 06-10-2014 at 08:32.

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    Hi I think it's great you are looking at finances before a bub arrives. Our weekly grocery bill did go up at least $50 a week with bub's consumables (nappies, formula, wipes, bath wash, nappy cream etc) and as I was unable to breast feed, it cost a lot for all the bottles/steriliser etc too. We also bought a sound and movement monitor which was pricey. Check the gov website to check eligibility for maternity leave payments as I'm not sure of the current rules. Probably the only thing that I didn't really factor in was medical/pharmacy costs. We were forever picking up baby panadol, bought a humidifier, got the odd script for bub. Even tho our little one was fairly healthy they pick up bugs here and there. All the best x

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    Its quite variable having a bub. You can ebay/gumtree/bss pages on fb to get cheap, good, 2nd hand items, or you can buy cheap items (around 150 each for cot, pram, carseat) from places like kmart, big w, target etc, or you can by more expensive things... (cots, prams for 1000+ etc)

    The same with nappies, clothes, food.

    Think about what your budget is, and buy products that fit it. research the heck out of stuff. Also think about clothes vs disposable, bottles vs breast, wipes vs facewashers. What do you NEED? Vs what you WANT.

    E.g..... With my ds, we knew we wanted huggies nappies wipes. On average it costs (and has since day one) about 50 a fn. (33 for a box of nappies, 15 for a bulk pack of wipes)
    I wanted to exclusively breast feed...but couldn't. We got a breast pump (2 actually, a 60 one that was useless so got a 300 one that worked) then bottles, we wanted a specific one so it cost more...dummies...same thing.

    We had to use formula. The one we used cost about 25 a tin, (some can be around 10 a tin) we would get one each week, then occasionally wouldnt need one, then you can wean them off at 12 months.

    We got a steraliser, 100, but some people don't use them.

    Got a capsule (250) but he outgrew it at 4 months, so had to get a seat. (200) had a car accident, got a different seat (560)

    Keep in mind that theres lots you can buy, but don't actually need. (change table) useful, but not required, user your bed, a couch or the floor. You can do it quite cheap if you need or want too....look around, research....baby shops often price match too.
    Baby bath...we paid 50...used it for a week, then it was easier for me to use the laundry trough. Id disinfect it, and was easier after my csect as it was the right size for ds, perfect height, and no need to carry water to fill or empty it...then the machine was next to it for the towel....

    The biggest things I found have been for the first 2 years they are aaaaalways growing so need new clothes, shoes etc....and incidental things you don't always need, but usually need then and there...e.g. medications, like panadol, when they start teething and you run out the day before payday!

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    As PP said, it all depends how much you want to spend. We found a second hand pram on ebay for $40. It's not that good but it works. We got a cheap cot and change table from Target. I'm breastfeeding but I bought some bottles as well in case I needed/wanted to express or change to formula, I got mine at the Big W baby sale half price for a 6 pack of the ones I wanted. I found my pump on ebay cheap. It really all depends what you do.

    Maternity leave, you would need to check your entitlements with your own employer. Some employers have their own maternity leave scheme, some don't. Most say you have to have been employed there for 12 months but that's from when you go on leave, so if you've been there 9 months now you will have done 12 months by the time bub is here. You would also be entitled to Paid Parental Leave from Centrelink, which is paid at minimum wage for 18 weeks after bub is born, as long as you are not in any other paid employment and you are the primary carer of the baby. Your partner may also be entitled to 2 weeks dad and partner pay, but that takes 2 weeks out of your PPL. For us it wasn't worth it because we would have been getting less than DF's normal wage so it was better off for him to just take annual leave at his normal pay rate.

    Does your mum know you are TTC? I only ask because it is possible she might not want to share her house with a baby. And if that is the case she might rather move into her own place leaving you with more rent to pay.

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    For us it's not so much the cost of baby items but the loss of income that's the most significant difference. I had a year off work with each baby and thereafter have worked part-time. I earn twice as much as my DP so for us the loss of my income is by far the most noticeable consequence of child rearing.

    Like others with baby items we ameliorated this cost by buying second hand where possible.

    I also went private so we also had out of pocket expenses of about 5k each child plus the cost of standard baby items.

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    Thanks so much for the information girls ! That is extremely helpful I'm going to start saving now ! There is so much we will need and with df and I being quite young I want to make sure we are as prepared as we can be I didn't want to go into this not knowing what I was in for and being one of those young niaeve couples lol we are extremely excited for this new chapter and are more than happy to start saving all our money toward a bub so knowing what we will be saving for is very helpful when planning our budget once again thank you so much for the advice and taking the time out to help

    My mum knows and is pretty keen for us to have a bub we all rent together and all three of our names r on the lease we have a spare room which she has already started planning where things will go for the baby haha she's very supportive as I am an only child and don't have a dad its always been her and I so she's very excited for me
    To be adding to our little family the main point of us staying here is so we can save for a deposit on a house which she really wants for us as she can't help out financially it is abit of an unusual situation to want to stay at home with a baby I know lol but its going to he very productive so we can own our own place and have support when we will need the most

  7. #7
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    http://www.babycenter.com/baby-cost-calculator
    this is american but might give you a rough idea.

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    This is what myself and DH have spent on things for bub so far, we are on fairly good income so purchased some things that were a bit pricey and other things that wernt and we always priced around and bought when on sale,
    Bugaboo donkey pram $1400 the most expensive item!
    Electric sterilizer Inc bottles $100, Closer by nature
    Cot with matress and incl changeable - 300 at my baby warehouse
    Baby bath-finding nemo - toys r us, $40 down from $75
    Baby manchester set, matching lamp and cot mobile-$250 - Disney one
    Bibs, baby face wash towels- $45
    Extra closer by nature bottles x4 - on special $20
    Bassinet - toys r us, on special $150
    Clothes from 000- 1 - $300

    I did go a little crazy with some things but cut out on others.guess we were a tad excited Also leave purchasing some things for if family wish to buy you something. My mum asked what we would like so she is getting us a bouncer and sheepskin for bub. Whatever you spend it dosnt matter it's not important.my parents didn't have much money when myself and my sister were born and we were fine and never complained or did without clothes ect. Spend what you can afford, also I plan to bottle feed so will be expecting to be spending at least $50 a week for nappies and formula. We spent a lot on medical expenses this year and were lucky to get pregnant after first IVF attempt so the pram was a treat as myself and DH loved it.

  9. #9
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    Quote Originally Posted by Blackdomino1 View Post
    http://www.babycenter.com/baby-cost-calculator
    this is american but might give you a rough idea.
    Wow that was really helpful ! Thank u ! mine came up at $4,500 a year haha but I think I cut out alot by taking away child care and choosing breast feeding (provided I will be able to breast feed) its a very good idea thanks for sharing. Oh and no savings for college coz we don't really do that here the way America does haha I think our savings will be general savings for everything for the family


 

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