Ours is seven months old this week, and so far, we haven't spent too much. We bought a carseat new, but mostly bought used or borrowed the rest.

For $500, we bought all this from a neighbor:

2 strollers,
1 crib (good quality) with Sealy mattress,
1 basinette,
1 baby bath,
1 bottle warmer (never used it),
2 pack 'n' plays,
1 playpen,
1 changing table with 2 pads,
and some other stuff I have since forgotten.

We borrowed a pump for breastfeeding, and have just started buying formula in the past month. Buy the powdered stuff - it's way cheaper.

We were given enough clothes to last at least another year.

So far, she hasn't cost much at all.

 

Shop at garage sales. You can get great stuff there, cheap.

There are a few things I wouldn't skimp on.

1. Car seat - this is where your child will spend a lot of time sleeping and travelling. When very young, you carry them in it constantly. When they get older, they drive in it constantly. Regardless, get one with LOTS of padding, especially on the sides where they lay their head. Secondly, make sure the sides at the head area are sloped in a way that allows the child to comfortably rest their head there while sleeping.

2. Food - breastfeeding is still the best way to go. Pretty much impossible to say otherwise. That said, not all women can do it these days, apparently. Still, it's cheaper than formula and worth a try. I'd encourage your wife to go that way if at all possible.

We had our kid in Canada - she was free. We also got $217 a month as part of a tax benefit. The next year, it was down to $108 or something, but we've basically made money on her for the first year and a half.

 

From 0 to 18 its about $250,000 / child. You can then add on the college of your choice.

Check out this link for better information.

http://moneycentral.msn.com/articles/famil.../tlkidscost.asp

 

The main change is not the money, but the time you spend with a baby/child and the joy the baby will bring you. Congratulations

 

And please please please install it correctly. The majority of car seats aren't installed properly.

 

Someone told me it's $250,000 until he/she turns 18....

 

Yea, but if you clean it, wax it and sell it on the black market you can
make 50 G's easy.

 

Thanks for the link, however I don't see how your income changes the other things.

Food is more expensive depending on your income? That doesn't seem to make any sense, but that's msn for ya.

 

lol sorry man, just gota ask, this is a very sensitive equipment for a very sensitive part of her body, so wouldn't you wanna buy it new? instead of borrowing...?

 

Dear god, never trust those msm financial calculators. Last time I was using the cost-of-living one for different parts of the country. It listed the average home price in Orange County at $142k


Anyway, I really don't know too much about the costs. My best advice though is not to spoil them the first few years. My nephew is 5 and has more material possessions than both his parents combined. They should have toys and everything of course, but stash some of that money away for a 16th or 18th bday present too.. or even his college fund.