Question for the new mommies!

I heard on Good Morning America that the average cost of a new baby in the first year is about $10,000. Would you agree? Or is it like weddings - much higher in NY? DH and I are trying to do a lot of things - house, baby - and I am trying to make sure we can do it all!

Peanut's not even here yet (5 weeks, 6 days and counting!!), but, we've already spent over $3500 on his/her furniture and a few misc. items...

I don't have any idea what I'll spend once he/she gets here... sadly, I have no self-control when it comes to baby shopping!!!

$10K seems like a good number!!

Heather ... that's what DH & I are hoping. That & the generosity of some VERY EXCITED GRANDPARENTS!!!!

But we haven't started shopping yet & I'm nervous!!

That is more than I thought!

I really don't know what we'll be spending in the first year. We are getting furniture and other large items as gifts (stroller, car seat). We're not having a baptism or anything like it, so I think that does end up costing a large amount too.

Wow... I never gave the $$ a thought...

Denise ... I had the same vision!! I already fm'ed her that you can join UPromise before the baby is even conceived! She'll start her binder shortly ... J/K!!!

I need people like you guys to keep me firmly in touch with reality, though ... You know, secretly I wish I was more anal this way!

But don't forget the tax break - you will now have a deductible!!!

Very good point Cira!

Denise & Christine you guys know me TOO well!! I love you guys!

Thanks for the responses. DH says babies don't cost a lot of money - just diapers and formula. ???? Though it IS my tendency to try to plan financially - that's kinda anal I suppose...... Sorry - but thanks for answering!

This point has come up before, and I'll say it again...the $10K figure is pretty realistic (as much as many of you probably hate to hear that). And that's coming from someone who has been VERY low maintainence when it comes to baby gear and 'stuff' in the first year of the baby's life.

We came very close to a total of $10K spent on Paul in just the first year ---> and that's factoring in bigger ticket costs like Paul's christening party, birth announcements (including postage), photography, first birthday party, furniture for his room and his toddler car seat. That figure even takes into account gifts that we received...we bought my glider using gift certificates to BRU...my parents bought Paul's new crib...Jeff's parents bought Paul's toy chest...my family is ALWAYS buying him clothes. I don't think I've purchased more than 2 outfits for Paul this past year - everything has been gifts.

You can certainly keep costs down and cut corners by not planning large parties at catering halls, not sending birth announcements and not convincing yourselves that you need every single Mommy 'gadget' out there. Use coupons for EVERYTHING and do not buy clothes for your child around holidays - family and friends will probably buy enough to get you through the season. If you must buy something, than shop the discount stores or the clearance racks. Babies outgrow outfits too fast to spend a lot of money on their clothes!

Personally, I have a different viewpoint regarding buying cheaper furniture. I look at it this way - I would rather make a sound investment in furniture that can grow with the child, into his/her teenage years, than buy something that will seem far too 'baby-ish' or start falling apart by the time he/she is 7, and then have to spend more money on new furniture at that point.

I hope I dont come across as ignorant, but I never tallied up how much 'it would cost' to have a baby. YES, everything is expensive, yes we want the best for our children. But seeing how my parents made do with what they had, and we turned out great. I will make do with what I have without tallying up and making that decide whether or not I will have a child or 2 or 3.
Like Claud said, there are SOOOO many ways to cut corners, as far as baby expenses and aLL OTHER expenses in life. I think I'm a pretty good saver, and coupon clipper and bargain hunter, and knock-wood, we are comfortable with my husbands income.
So yes, I plan to have more children. and No I dont plan to tally up figures to be my deciding factor.
I will cross each bridge as I get to it

This is a question that has to be answered from your heart. IF you want a child and you are both ready, you will find ways to give that child love and shelter. There are basic necessities and there are EXTRAS, and beleive me 75% of the BABY WORLD is extras.