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  1. #1
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    Default Saving for first baby

    I'm a massive planner/organizer type person and know I want to start trying next year to have a baby.

    What would ideally be a ballpark figure to have saved by the time bub comes along? I really have no idea what things cost.

    Thanks

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    Default Saving for first baby

    Really depends on your lifestyle.

    It also depends on if you want more children, and you can justify spending more on something that will last longer.

    Bassinet, cot, pram, car seats are obviously the most expensive items.

    Don't forget the doctors appointments for pregnancy also, ultrasounds, OB appointments, pregnancy management fees, blood tests.
    Last edited by Nomia; 03-08-2016 at 11:59.

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    As @Nomia has said but you could also add up what your living expenses have been for the last 12months aswell so that you can try and save as much as possible. I've been able to take 12months off with only 4.5months of that with no pay. We saved our butts off for me to be able to do this then it's back to work I go

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    Depends on your lifestyle we decided to save 50,000 before we started trying and we are still saving money weekly so we will be comfortable by the time I go off work/bubs comes.. we dont even plan on using it for anything in particular it's just there just incase we need to.. its a nice chunk off the mortgage at the moment

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    Default Saving for first baby

    As pp have said it really depends on whether you're talking about just baby/pregnancy expenses, cost of one person not working (and for how long) and whether you want all the bells and whistles or just the basics.

    You can spend $3000 on a cot or $150. Same goes for prams. Car seats range from low $100's to close to $8-900.

    If you plan on having more than one then the best cot or pram you can afford make sense. Car seats depends on how close you having your kids as usually number 1 will still be using it when number 2 arrives.

    Then there is the cost of nappies (disposable brands again a range of prices) vs cloth nappies, breastfeeding (free) vs formula, and the myriad things babies seem to need like creams for nappy rash, teethers, panadol, etc... The list goes on!

    Then there are the medical costs would you go public (minimal or no out of pocket) or private (out of pockets, pregnancy management fee - can be $3-4,000, hospital excess).

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    Default Saving for first baby

    No real advice here. interesting to see what others have said.
    Don't think you can ever put a "price" on how much to have before you have a baby.

    DF and I are expecting towards the end of the year and have very minimal savings, were just recently engaged and this was a surprise so not time to plan lol. Ideally, we would have liked more, but we were dealt the high risk pregnancy card, so have had to take a huge step back from work, and savings is hard when you've still got bills to pay and things to buy before maternity leave.

    I think it also majorly depends on whether you go public vs private.
    And how much time you would like to have off work. For us, we will be taking it one day at a time. The costs all come before Bub is born, once they're here, they don't cost too much for the first few years, minus formula/food, clothes etc.
    agree with PP, about buying quality items if you plan on having more than one. Or buying cots that can be changed into toddler beds. Etc.

    ETA: I've been told by many people, not to worry about money. Somehow you just make it work.

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  12. #7
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    I didn't save at all for my first but saved for our second incase we needed IVF.

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    Gosh I don't think there's a ball park really. What we did was start living off one income and saving our second income. We did that while TTC and pregnant. While pregnant we used it to buy what we needed (although we only bought a car seat and mattress brand new) and by the time Bub arrived we weren't affected by the sudden drop of income, and we had a decent chunk saved for other stuff (which got completely depleted TTC our second which took a lot longer (IVF).)

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    The actual stuff for the baby (cot, pram, etc) can cost the earth or be very cheap depending on whether you what the best of the best brand new or are happy with second hand (BSS pages are great for bargains).

    I found the most expensive part about having a baby was not working! Ouchie. Eg If you plan to take a year off work then ideally you will have a one years pay in savings.

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    As pp have said, it depends.

    All a baby needs to start with is: somewhere to sleep, eat, get cleaned, changed nappies and transported around. What items you need to do this can vary a lot both in type and cost.
    Babies need surprisingly little really and most things you can probably actually wait until after birth to get. I would have a look through a baby store to get an idea of price range. Personally we never ended up buying a cot but that's pretty rare in Aus I think. Could easily range in between $500-10000!

    Definitely put money aside for antenatal costs - depending on whether you're going public or private, homebirth etc. Look up the type of care you think you would prefer and see if you can find out cost ahead of time (ie. Ob fees). Approx. $0-6000 depending on care type & scans etc?

    It would be good to save up extra in case of loss of job etc. And think about you're mat leave entitlements if you work, when you would like to return to work etc. My dh lost his job when ds was around 3 months. That's all kinds of crazy! We managed though because we had some savings and he managed to get another job relatively quickly. At least 1-3 months buffer is a good idea! Obviously not always possible though.

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