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  1. #1
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    Default Expenses and budget for baby's first year

    Hi all,

    DH and I have very different opinions when it comes to budgeting. We are due with our first one (!!) in November and DH believes that i should be a SAHM for the first year. Where i come from it's very unusual so while i'd love to, i'm not too set on the idea. And at this pace, i don't see us being able to live on one wage only for a year and pay off our debts in the meantime.

    I think one of the problems is that i control most of the finances and he has not really paid attention to them. He is also quite clueless when it comes to babies and children. I want to work on this and get him to understand why I'm a "kill-joy" and so annoying about money.

    I have worked out a list of expenses relating to the pregnancy, baby stuff and i can easily work out our expenses.

    Where i get stuck is what to budget for baby's first year. We are planning on using cloth nappies and breastfeeding (everything going well, of course), so I'd like your help in terms of what expenses we are looking out baby-wise for the first year.

    Any advice on how to get DH to get the idea of budgeting would be welcome by the same token for people who have been in my place (opportunities vs budgeting)

    thanks heaps!!

  2. #2
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    No advice sorry (also expecting our first), but subbing as I'm also interested.

    My DH also leaves all the finances to me, and now gets annoyed when I say anything about savings/the amount of money he spends on unnecessary things.

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  4. #3
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    Oh I hear you there! I get in SO much strife for stopping him from spending money. Half the time i give up because i'm sick of the arguments about money but it's not really the solution.

  5. #4
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    Aside from the initial outlay to get the house set up for baby, they don't cost a whole lot in the first year. Obviously you will need a bassinet, cot, pram and car seats, clothes and bedding, as well as a bath, monitor and change table if you plan to use them. When bub is eating and on the move there are things like a high chair and baby gates if required. I use cloth nappies and breastfeed and apart from clothing bub, some toys and a little extra in the way of groceries my expenditure is much the same as before he arrived. I don't use packaged baby food so even now he is on solids it doesn't cost a whole lot to feed bub. The only thing I am buying now that I didn't previously is baby wipes.

  6. #5
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    It's not so much the baby that costs us money, but living on one wage. PPL lasts 18 weeks, plus any leave you have from work. Then you're on to savings.
    I BF, use cloth nappies/wipes. The total set up for baby #1 was about 3k and much less for #2.
    This is why I'm returning to work 7m after DS was born. Yes we can survive on one wage but I'm sick of having to justify myself when I want new clothes, kids clothes or a haircut. Plus we are not saving anything.
    I work 2 days a week - enough to cover daycare, groceries, phone bill and a few nice things for me & the kids. Then we can go back to using DH wage for mortgage & savings.
    Also try to agree on a set amount of money you each get to spend per week no questions asked (we each get $50) then the rest is family money.
    I also returned to work before 12m each time for my own sanity. I like my work. I am very fortunate I can work part time and have what I think is the best if both worlds.

  7. #6
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    I'm about to have my first so have been thinking the same. My friends have said that babies (once they arrive) don't cost too much and it depends on the toes of activities, if any, you enroll in.

    My hubby has not long started his own business so to ease the burden temporarily, we've gone interest only on our mortgage.

    We tried to save ahead for baby furniture items, and found some great items off Gumtree and Facebook Marketplace. A lot of ppl care for baby furniture so second-hand items that I found were good quality.

    Depending on the job/income, sometimes staying home with bub is better financially than paying for day care (and the added logistics of making that happen).

    Good luck - I'm sure it'll work out best for you and your hubby.

  8. #7
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    Babies aren't that expensive in the first year. They're expensive to prepare for! They become more expensive at pre school age I'd say (depending on activities), and more expensive again at school time, obviously a hell of a lot more expensive if you choose private schooling.

    A lot of it will depend on your situation and the flexibility your workplace provides, if any. How much maternity leave can you take? What sort of hours will you have to go back to afterwards? If you can have a reasonable amount of time home with bub then I'd be making that happen, you will be very tired even if bub is a good sleeper! Then if you can go back part time and manage day care fees that would be ideal.

    Maybe write a list / make an Excel spreadsheet of all your expenses as they are right now. Then do another one for if you didn't work. Point out to DH exactly what you'd be giving up. Maybe then he might understand a little better?

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    I think the biggest expense is loss of wages when one parent takes time off work.

    Apart from that, babies can be as cheap or expensive as you like.

    Breastfeeding and cloth nappies save lots of money.
    I would buy the best pram and sling you can afford.
    Clothes - buy second hand - seriously they grow so quickly in the early months and second hand clothes in the smaller sizes are mostly in great condition
    Change table - I loved mine, but they aren't necessary. I would be looking for a second hand one and buy a new mattress.
    Cot - Mine was a waste because I coslept with mine. If you buy a second hand cot, make sure you get a new mattress.
    Bassinet - got some use. I had a second hand one with new linen and mattress.
    Baby bath - some people like them, but we had a large sink in our bathroom vanity and I used that instead or just took them in the shower with me.
    Breatpump - nice to have if you want to express some milk for your DH to give the baby or to leave the baby for a period of time but not essential for breastfeeding success.
    Rocker - I loved mine and it got lots of use
    Car Seat - essential and there is no way I would buy second hand. If you want to use a capsule in the newborn period, I found hiring good value, then I moved them into a RF car seat when they got a bit bigger.
    Last edited by SSecret Squirrel; 05-05-2017 at 17:35.

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    Babies are cheap. It's when they get to school age you need to earn the same as a small African country lol

    Can I say though, be prepared you *may* not be able to bf so you'll be up for formula. You may hate MCN's.

    And I second looking at second hand. With our third, there was a large gap and I had got rid of all my baby stuff so had to start again. Given it was our last child I decided to get 2nd hand stuff off the local FB buy and sells and it's a very smart decision. The stuff I got, you'd never have known if was 2nd hand as it gets used for such a short amount of time it gets little wear and tear.

  11. #10
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    Quote Originally Posted by frankie46 View Post
    Babies aren't that expensive in the first year. They're expensive to prepare for! They become more expensive at pre school age I'd say (depending on activities), and more expensive again at school time, obviously a hell of a lot more expensive if you choose private schooling.

    A lot of it will depend on your situation and the flexibility your workplace provides, if any. How much maternity leave can you take? What sort of hours will you have to go back to afterwards? If you can have a reasonable amount of time home with bub then I'd be making that happen, you will be very tired even if bub is a good sleeper! Then if you can go back part time and manage day care fees that would be ideal.

    Maybe write a list / make an Excel spreadsheet of all your expenses as they are right now. Then do another one for if you didn't work. Point out to DH exactly what you'd be giving up. Maybe then he might understand a little better?
    Agree with this 100%, I'm an accountant and I have roughly calculated how many weeks we can live off savings and one wage based on our current expenses as a start.


 

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