How Much Dose It Cost to Have a New Baby

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Starting a family – how much does a babe cost?

Starting a family Family unit finances Budgeting

Having a infant is wonderful, but the costs of starting a family unit tin be astronomical.

The boilerplate toll of the first 12 months alone is £half dozen,000 – or £500 a month – according to research past the insurer LV, and many parents cull to go way above this effigy. The good news is, you don't have to.

There are lots of ways to go on the costs of raising your child down – and information technology all starts with planning before your little one even arrives.

This article will cover:

• What to buy when expecting a baby
• The essentials and non-essentials you need before the baby arrives
• Everything you lot need to know near paternity and maternity leave
• Early days essential equipment
• Childcare costs
• The costs of raising a toddler and beyond

Breastfeeding is free – but there are plenty of other things you'll need to pay for

What to buy when expecting a baby

You lot could literally spend thousands of pounds kitting out your babe. But the advice for new parents is to be saavy shoppers.

While there are some things you can't practice without, lots of things really aren't necessary and many more you tin go second hand. You can use the money you save to invest for your child'due south future instead.

The Essentials

1. A motorcar seat
   New, equally you need to know the automobile seat has never been in an blow. Boilerplate cost: £100 – £200
2. Clothes
   Don't spend too much on baby wear; babies abound fast. Plus y'all will likely become given some beautiful infant outfits as presents from generous friends and family. Just do get several onesies, and buy plenty of bed linen and muslins. Average cost: £50 – £lx
3. Nappies
   In the beginning few weeks, disposable nappies tend to be easiest. Buy in bulk! Average cost: £12 – £24 in the outset calendar month
4. Food
   If you're breastfeeding, you will demand easy-access underwear and clothing (although don't buy likewise much in case yous can't breastfeed for long), plus perchance a chest-pump and a few bottles. For bottle feeding, you lot'll need formula, sterilising equipment, and bottles. Average toll: £fifty – £100
5. Moses handbasket
   Your baby will sleep in a Moses handbasket or crib in your room for the showtime six months. Y'all can buy 2nd mitt, only invest in a new mattress. Boilerplate cost: £70 for a new basket, £twenty for a mattress
6. Baby bathroom
   A large washing upwardly bowl will exercise, simply a baby bath on a stand tin can relieve your back. Average price: £25
7. Pram
   A travel system including a car seat, carrycot, and pram can work out cheaper overall. Average cost: £150 – £one,000
8. Changing bag
   Yous'll need somewhere to put everything when y'all're out and about, just a normal rucksack or holdall is fine. Average cost: £25

The Non-Essentials

1. Play mat
   Important for development, only a coating with a few toys does the same job. Average toll: £25
2. Baby bouncer
   Somewhere safe to put your babe while you go to the loo! Average cost: £20 – £300
3. Changing mat
   Handy and piece of cake to clean, although a folded up towel works merely as well. Average cost: £7

Maternity and paternity leave

Having a infant isn't only expensive because of all the things y'all have to buy, only the time off work means there is less coin coming in.

• Statutory maternity leave
  • lasts 52 weeks
  • merely 39 weeks have to exist paid
  • subsequently the kickoff six weeks, the amount you receive may fall from ninety% of your earnings to simply £151.97 per week for the next 33 weeks
  • some companies offer more than, so check with your HR section

As long as your partner has been in their task for ix months, they should qualify for 2 weeks of paternity leave (male person or female person in a aforementioned sex activity couple) on at least £151.97 per calendar week.

Some employers offering full pay during the fortnight then it's a good idea to cheque.

Shared parental leave, which allows couples to split 50 weeks of leave before their infant's first altogether, is also worth considering.

Toll-cut tips

• Use a free babe costs calculator to go an idea of how much you will spend.
• Wait out for special offers. I got a £150 automobile seat for £50 by choosing a less pop colour (my son definitely does not care!).
• Join local parents' groups online. They are a not bad source of free and cut-price gear.
• Don't buy too many toys – that's what friends and family unit are for.
• Y'all're going to be doing lots of washing! So if your washing machine is on its last legs, become a new one in the sales.
• Read our article on the cost of childcare: what help is available?

What to do during the early days

Kickoff smile, first express joy, offset 8-hour slumber (hopefully) – in that location are many incredible moments in the offset six months. Lots more than things to buy too!

Equipment that you will need

Every bit in the commencement few months, you volition need certain items. They don't need to cost the earth, though.

• Cot – a second-hand one with a new mattress is a bang-up shout. A cot-bed, which turns into a toddler bed, is even amend.
  • Boilerplate toll: From £70 new
• Babe monitor – you lot'll probably demand a monitor once your babe starts sleeping in his or her ain room. See if any local mums have 1 they don't utilise anymore hiding in a cupboard.
  • Boilerplate cost: £20 – £250
• Nappies – washable nappies are an eco-friendly mode to go effectually the estimated £261 a year you lot will otherwise spend. In my experience, they're great for daytime usage at home, not so great for travelling or overnight.
  • Average toll: £150
• Stair gates – once your babe starts crawling, yous need to secure the stairs to prevent accidents.
  • Average price: £15 – £fifty
• High chair – vital for mealtimes, simply you can get one second-mitt.
  • Average toll: £30 – £300 new
• Playpen – not essential, but it is useful. Why not utilize a travel cot every bit a play-pen – then it can double up every bit a bed when you get away?
  • Average cost: £30

Childcare costs

Childcare fees make upwardly a big percentage of the toll of raising a child if you go back to work. Government figures suggest parents typically spend £242 a calendar week for 50 hours of full fourth dimension care for a child under two in England and Wales.

You may be able to reduce your bill by up to 20% by applying for revenue enhancement-costless childcare.

We accept lots more information on this scheme, and other ways to lower your childcare costs in our How much does childcare cost, and is in that location anything out there to assistance? Q&A.

Cost-cut tips

• If you earn nether £60,000, utilize for child benefit as soon as you can afterward the birth. You will probably get a leaflet about it at the infirmary or when you register the birth.
• See if you lot can infringe items you will need short term, such as stair gates, from friends.
• If you lot choose reusable nappies, cheque whether your local council offers a voucher that tin can become towards paying for them, or a free nappy kit.

Toddling and beyond

According to the Kid Poverty Activeness Group, raising a child to the historic period of 18 costs a typical couple an eye-watering £151,000. This includes housing and childcare costs. That's around £8,389 a year, or £699 a month.

But while food bills will get upwards over time, other costs should start to fall.

For assistance with budgeting, have a wait at our Guide to creating a family budget and Guide to child benefit.

Food

Nearly babies start eating proper nutrient at effectually six months. You lot might exist surprised by the divergence this makes to your weekly food shop.

Set-fabricated pouches are undoubtedly user-friendly when y'all're on the go, simply cooking their meals yourself gives you more control and should work out cheaper likewise.

The quicker you can go them eating more or less the same as you, the easier it is to salve.

Childcare

When your infant reaches the age of 3, you can outset challenge 15 – or in some case up to 30 – hours' free childcare a week.

Primary school starts the September afterwards the child turns 4, at which indicate your costs could driblet to around £sixty a calendar week if yous only need later-school care. Find out more about how to keep down the costs of childcare.

Cost-cutting tips

• New mums are entitled to costless prescriptions and dental care in the first 12 months. And then go your teeth checked before your babe turns one!
• Keep buying second-hand clothes – these are really handy for nursery, where your child will probably get covered in food and paint. Keep an middle out for 2d-hand toys too.
• Do babysitting swaps with local parents.
• Sell on anything yous no longer need.
• Your local library can often be the best place to observe free activities, as well every bit books and toys to borrow.
• Apps such equally Mush can be a proficient way to track down cost-effective classes and groups.

Read next

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Source: https://www.thetimes.co.uk/money-mentor/article/starting-family-baby-costs/

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