Shopping Smartly and Strategically – Financially Preparing for Your First Child

Your first pregnancy can be the most exciting time of your life, one of joyful anticipation. It’s a time filled with ultrasounds, nursery decorating, and a baby shower. It is also one of the most important times for you and your spouse to create a budget and stick to it. While it is true that you can expect some gifts for the baby, it is also true that a great deal of it is an unnecessary luxury and/or of zero use for a newborn infant. The authors offer a range of ways to save up to 50% on baby essentials. They also offer helpful advice on how to sketch out a baby budget, such as: * Maternity/nursing clothes: $50. * Stroller, car seat: $500. * Baby sling/carrier: $50. * Swaddling: $40. * Teething blanket: $10. * Crib with mattress: $200. * Traveling crib/playpen: $200. * Changing table and dresser: $400. …

Financially Preparing for Your First Child

Many people dream about growing up and having a family, but very few people are practical enough to calculate how much it will really cost. The truth is that your dream come true can become your worst nightmare if you don’t plan ahead financially. Your new bundle of joy can end up costing a bundle unless you are organized and prepared to pinch every penny until it screams. In this guide, we will be discussing how to budget for your first baby and practical action steps you need to take to secure your and their financial future. Let’s start with a look at the actual projected costs of raising a child.   1. The Average Cost of Bringing Up a Child The most recent estimate for the average cost of bringing up a child comes from CNN Money. As of January 9, 2017, they estimated that it cost $233,610 in …