3 Unexpected Costs of Having a Baby

posted in: Parenting

Written by Lidia Staron

Theyve told you what to expect when you’re expecting. But they didn’t tell you quite everything about the unexpected costs of having a baby.

For new parents, it’s important to expect an increase in your family finances. And Im talking about an increase that runs from when they get born until they tie the knot in the future. But thats too vast to begin with. So let me give you some baby milestones instead of covering a lifetime of childcare costs.

What does it cost to have a baby? It's more than just hospital visits and the best newborn clothes. Here are the unexpected costs of having a baby.

What are the unexpected costs of having a baby?

Expect a high jump in your financial responsibilities before your cute little bundle arrives. First is your babys nursery, then your babys physical needs. Third is your babys emergency fund.

You can research to prepare. Ask friends who have had children. Websites such as Babycenter also have what they call their First-Year Baby Costs Calculatorthat you might find helpful. All these are just some of the tools to give you a headstart. Now, lets jump over to the three major baby finance categories.

Preparing the nursery

Lets start with the baby’s room. It doesnt have to be extravagant. Your child at an early stage will likely not have a memory of it, but that doesnt mean you should skimp on the necessities. Three things you need to remember when it comes to preparing the baby’s nursery include the following: your childs comfort, safety, and sanitation.

Your babys crib must be safe enough even when your baby begins to roll and crawl. It must also be comfortable enough to give your baby a good sleep. Good sleep for baby also means good sleep for you as parents!

Another important reminder is to make sure that your budget goes to the cleanliness of the baby room. Purchase products like pillows that are hypo-allergenic especially if any of you have history of asthma or allergies.

Special vaccines and newborn healthcare

There are a number of special treatments and health requirements that even the healthiest baby will go through. As parents, you want to be able to provide these so as not to expose them to possible health dangers. This is one thing that shocks most parents in terms of finances. A lot of parents think that most of the budgetary adjustments would come at the time of birth and fast forward to when their children start going to school.

Not quite, parents.

Most financial analysts estimate that parents spend more than $500 for the first year of babys immunizations. There will be a number of vaccines needed after that. Some private health insurance companies may not cover immunizations, but most do. You may have to check to be sure.

The basic vaccines you need to make sure are covered include those against hepatitis B, polio, rotavirus, pneumococcal, Hib, and DtaP.

Some of those vaccines will have a follow up in the fourth and sixth month of your babys life. Know that its not just your familys finances were talking about. It will also affect your time. This may mean that taking leaves from work could also affect your months wage.

Newborn emergency fund

You’ll wish and pray that it doesnt have to come to this. But for preparednesssake, make sure to consider the possible costs of the following: sudden hospitalizations due to illness, unplanned and urgent visits to the emergency room due to accidents and the like. You would rather be prepared than hesitate to bring your child to the hospital due to lack of budget.

Some common emergency situations among babies are burns, injuries from a fall, and choking.

You might be thinking ahead with personal loans online for emergency situations if you are a single mother investing for unexpected emergency situations. 

Planning ahead for these unexpected financial responsibilities will ensure that you and your family are safe and sound with peace of mind.

Follow Trae Bodge:

Smart Shopping Expert

Trae Bodge is an accomplished lifestyle journalist and TV commentator who has specialized in smart shopping, personal finance, and retail for more than a decade. She has appeared on TV over 1,000 times; including Today Show, GMA3, NBC Nightly News, Inside Edition, and network affiliates nationwide. She has been named a Top Voice in Retail by LinkedIn, and her expert commentary has appeared in Forbes, USNews.com, Kiplinger, Yahoo Finance, and numerous others.