The Cost of a Having a Baby

It is a fact of life that babies are expensive. Some studies suggest that the average cost of raising a baby through his first year of life is $10,000. It's far more if you include the cost of the delivery. The following is a breakdown of these expenses. Keep in mind, though, that there are many variables that could raise or lower these estimates.

Delivery

An uninsured mother can expect to pay, on average, about $15,000 for her baby's birth. Insured mothers pay about $1,500 on average.

Child Care

Aside from the baby's delivery, child care is the biggest single expense. In the first year, you could spend as much as $6,000 in day care tuition.

Feeding

Between formula, bottles and baby food, it will cost about $2,300 to feed your baby in the first 12 months. If you exclusively breastfeed, though, you eliminate most of this expense.

Diapers

If you use disposable diapers and wipes, expect to spend at least $600 in the first year.

Baby Gear

It is amazing how much stuff babies need. From car seats to cribs, you could easily spend $1,500.

Medical

Babies have several checkups in their first year of life. Depending upon how much health insurance you carry, these checkups could total anywhere from $100 to $1,000. If your baby gets sick or has special medical conditions, the costs will grow.

Clothing

Baby clothes may be small but they'll still cost you. How much? About $600 in the first year.

Resources

• How to Save Money on Baby Expenses