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-| The costs of a new baby
-| How to save money on prescriptions
-| Preparing to give financial security to your children
-| Overspending and your self-esteem
-| How to handle money in a relationship
-| Financial management is not over your head
-| Quit worrying about your money-manage it
-| Taking a time-out for financial recovery
-| Where does all your money go?
The costs of a new baby
If you are planning on having a baby, here are a few figures
that might help you understand what you will need your first year.
Prepare to be shocked. Expenses for the first year can reach up to
$10,000 for one child. Here are some projections:
  • Traveling ($500): One car seat, one collapsible play yard,
    one diaper bag, one baby carrier, one stroller.
  • Diapers and other changing supplies ($1,200): 3,000 diapers,
    36 boxes of wipes, eight tubes of diaper rash cream, one diaper pail, one changing table
  • Sleeping and nursery ($1,000): Six blankets, one crib, one
    set of bedding, one baby monitor, one nightlight, one clothes hamper,
    one rocking chair, one nursing pillow
  • Food ($2,000): Six bibs, 10 bottles and nipples (if you are
    bottle feeding), 144 cans of powdered formula (if formula feeding),
    one bowl and spoon, 700 jars of baby food, one high chair, three boxes
    of baby cereal, 12 boxes of dry cereal, six burp cloths, one manual
    breast pump
  • Health and hygiene ($250): Three sets of towels, hand towels
    and wash cloths; one baby bathtub, 12 bottles of baby shampoo/wash, two thermometers (rectal & ear), one jar of petroleum jelly, one pack of cotton swabs, one toothbrush, one nasal aspirator, one nail clipper, one pair of baby scissors, one comb and brush, one pack of cotton balls, one bottle of rubbing alcohol, 12 bottles of baby lotion, five bottles of baby medicine.
  • Clothing ($2,000): 24 sleepers (six for each stage), 36
    one-piece outfits (nine for each stage), one winter hat, two
    snowsuits/jackets, 10 shirts, 10 pairs of pants, five pairs of shoes
    (three soft soled, two walking).
  • Odds & ends ($1,000 and up): Three pacifiers, one baby swing,
    three teething rings, one portable phone, books, toys.

-adapted from Understanding Children by Richard Saul Wurman

 
March 12th, 2010

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