Question : what are the costs of having a baby?
what are the costs of having a baby?
My fiance’ and i are planning to try for a baby in a few months time..so excited but he is worried about finances! I know we arent doing it hard compared to alot of people so it fustrates me that he is so worried. I currently work full time and earn about $ 35,000 AU. a year (after tax) but when bubs comes i probably will quit work so lets base it on one income only.

So my fiance earns about $ 60,000 AU a year. We have a mortgage which repayments work out to be $ 24,000 AU a year. All our bills incuding our house & contents insurance, car insurance, council rates and food shopping are approx $ 18,000 AU a year. So that adds up to $ 42,000 AU per year in bills, food & mortgage but thats excluding actual repayment money off the mortgage (the 24k covers the interest only) So that leaves $ 18,000 AU – is that enough to cover all the costs of raising a baby? Like medical, food, play equipment and nappies? I plan to breastfeed. Can anyone tell me how much on average per year or per week or per month it costs to raise a baby for the first few years whilst in nappies?? In Australian dollars would be great if you can, but if not any advice would be great.

In australia i know we get the baby bonus which is $ 5000 and paid in installments i believe thats a once of payment though. I’m unsure if we will be eligable for the family tax benift though??

All help appreciated :) im so excited and i want my fiance to get excited too and not worry about money so we can make our wish come true.

thanks everyone
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Best answer:

Answer by Lilly’s mommy!
This is in US. Sorry :/. Okay. I didn’t read all your question but a birth itself typically costs from 8-12 grand. The bare necessities around 1500 (if you want any type of nice– expect around 6000. thats what mine comes up to be). then the baby’s medical. if it has jaundice, thats and added 4 grand. then 25-150 for each individual vaccination. now to the monthly cost.

diapers- 60
wipes- 20
formula- 150 ish (unless you breastfeed and then just that once for pumps etc)
clothing- 50 (again, if you want the best around 100 a month)

and thats all i can think of that isnt just a 1 time cost.