Can we perhaps run a new post with q4 2009 estimates? I am expecting my first kid in early 2010, live in the Minneapolis area. Daycare will run a solid $225/week (home daycare, 5 days/week), I ESTIMATE diapers will be $100/mo, hope to breast feed, medical insurance SUX—baby will run $250/mo with $2500 deductible, but free ‘well baby” visits with most plans. Cannot get ind baby healthcare until baby is 3 months old! Maternity clothes: $300 (mostly work appropriate stuff), initial baby gear—maybe $1000, baby clothes—hoping for gifts and garage sale/thrift store finds—maybe $25/month? Maternity Leave–I have been saving vacation time, so at least it will be PTO for the full 6 weeks.

How are my figures compared to every one else’s?

Can we perhaps run a new post with q4 2009 estimates? I am expecting my first kid in early 2010, live in the Minneapolis area. Daycare will run a solid $225/week (home daycare, 5 days/week), I ESTIMATE diapers will be $100/mo, hope to breast feed, medical insurance SUX—baby will run $150/mo with $2500 deductible, but free ‘well baby” visits with most plans. Cannot get ind baby healthcare until baby is 3 months old! Maternity clothes: $300 (mostly work appropriate stuff), initial baby gear—maybe $1000, baby clothes—hoping for gifts and garage sale/thrift store finds—maybe $25/month? Maternity Leave–I have been saving vacation time, so at least it will be PTO for the full 6 weeks.

How are my figures compared to every one else’s?

Most people said before day care, the expenses include diapers ($100 per month), formula ($100-$200, if no breast milk; If the mom is a milky cow, then free), clothes (I can always find deals, let my mom buy them from China and get plenty of them from my friends), other stuff baby needs (crib, stroller, etc. Again, I can ask friend or buy a second hand one. For example, a second hand crib or stroller costs only $70).

Further more, there is a medical insurance. I think our company has very good deal; Also, we can use FSA to save tax on medical expense, even in the near future, on day care expense ($200 per week).

IRS give each family $3050 tax exampt per kid annually. Also, if at the end, you own tax, you can use the $600 tax credit per kid to deduct it.

We also paid 20% for having our first son — the total hospital costs came out to about $1200.

You can make baby food as well, especially those first foods. It is much cheaper to buy a big can of peaches and run it through the blender than it is to buy those cutesy little jars. This works for peas, sweet potatoes, broccoli, spinach, you name it. Of course then you have to count the time that you spend cooking and/or processing the items.

Don’t forget the crib … which will become a bed eventually … which needs sheets and a pad and a mobile etc., and the carseat & stroller as well.

All this may go out the window if the baby is born with a disability, as well. My second son had many a doctor’s appointment, blood test, and hospital visit that we didn’t even think about, much less budget for (endocrinologist, gastroenterologist, neurologist, geneticist, etc., etc.). This is not to say that you CAN plan for these things … but a little extra set aside wouldn’t be a bad idea and you can always put it toward the baby’s college fund if everything turns out well.

2) Many healthcare plans include preventative visits for free. I even have a high deductible plan and they are free. This includes 1 visit per year for older children and adults, but virtually ALL of a baby’s required visits.

3) What about hospital costs for having the baby? When our kids were born, we had a $700 deductible and paid 20% coinsurance after that. Havign a baby was around $10,000 and we ended up having soemthign like $2500 out of pocket.

In regards to clothes, $500 is not too much. Don’t forget that you have to buy a winter jacket, spring jacket and a fall jacket (kids are growing too fast, you need to buy a jacket per seasons). Sometimes, you’ll have to buy 2 set of shoes in the same year!

My son is 2yrs and it cost in average between $350 to $400 per month. Keep in mind that I don’t put money aside for his school yet!